Huntington National Bank raised its position in Marriott International (NASDAQ:MAR) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 276,373 shares of the company’s stock after purchasing an additional 5,260 shares during the quarter. Huntington National Bank owned 0.07% of Marriott International worth $30,473,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Thrivent Financial For Lutherans increased its holdings in Marriott International by 39.9% in the first quarter. Thrivent Financial For Lutherans now owns 15,736 shares of the company’s stock valued at $1,482,000 after buying an additional 4,490 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Marriott International in the first quarter valued at $115,000. State Street Corp increased its holdings in Marriott International by 0.5% in the first quarter. State Street Corp now owns 14,173,107 shares of the company’s stock valued at $1,334,828,000 after buying an additional 73,403 shares during the last quarter. Scopus Asset Management L.P. purchased a new position in Marriott International in the first quarter valued at $37,672,000. Finally, Shelton Capital Management boosted its stake in Marriott International by 104.6% in the first quarter. Shelton Capital Management now owns 53,640 shares of the company’s stock valued at $5,052,000 after acquiring an additional 27,425 shares in the last quarter. 66.06% of the stock is currently owned by institutional investors and hedge funds.
In other Marriott International news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $99.84, for a total transaction of $2,995,200.00. Following the completion of the transaction, the insider now directly owns 493,896 shares of the company’s stock, valued at approximately $49,310,576.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Argiris Kyriakidis sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $107.84, for a total transaction of $323,520.00. Following the completion of the sale, the insider now directly owns 16,079 shares of the company’s stock, valued at $1,733,959.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,727 shares of company stock valued at $11,339,600. Insiders own 11.32% of the company’s stock.
Marriott International (NASDAQ:MAR) traded up $1.30 on Friday, hitting $120.11. 3,377,000 shares of the stock traded hands, compared to its average volume of 2,456,549. The company has a market cap of $43,315.90, a P/E ratio of 29.05, a P/E/G ratio of 3.06 and a beta of 1.34. Marriott International has a one year low of $72.75 and a one year high of $124.34. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.52 and a quick ratio of 0.53.
Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.12. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. The company’s revenue was up 43.7% on a year-over-year basis. sell-side analysts expect that Marriott International will post 4.22 earnings per share for the current year.
Marriott International announced that its board has approved a share repurchase program on Thursday, November 9th that allows the company to repurchase 30,000,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Tuesday, November 21st. Marriott International’s dividend payout ratio is presently 35.87%.
Several equities analysts have issued reports on MAR shares. Zacks Investment Research upgraded shares of Marriott International from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Thursday, October 26th. Wolfe Research upgraded shares of Marriott International from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 30th. BidaskClub cut shares of Marriott International from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 5th. Robert W. Baird set a $103.00 target price on shares of Marriott International and gave the company a “hold” rating in a report on Tuesday, October 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $98.00 target price on shares of Marriott International in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $106.64.
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Marriott International Company Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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