Korea Investment CORP cut its holdings in shares of Marriott International (NASDAQ:MAR) by 13.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,380 shares of the company’s stock after selling 10,500 shares during the quarter. Korea Investment CORP’s holdings in Marriott International were worth $7,429,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of MAR. Advisory Services Network LLC grew its stake in shares of Marriott International by 1,490.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock worth $113,000 after purchasing an additional 1,058 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Marriott International during the 1st quarter worth approximately $115,000. Baker Ellis Asset Management LLC acquired a new stake in shares of Marriott International during the 2nd quarter worth approximately $133,000. North Star Investment Management Corp. grew its stake in shares of Marriott International by 3.3% during the 2nd quarter. North Star Investment Management Corp. now owns 1,583 shares of the company’s stock worth $159,000 after purchasing an additional 50 shares during the period. Finally, Regal Wealth Group Inc. grew its stake in shares of Marriott International by 0.3% during the 2nd quarter. Regal Wealth Group Inc. now owns 1,637 shares of the company’s stock worth $164,000 after purchasing an additional 5 shares during the period. 66.06% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Marriott International from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird raised their price objective on shares of Marriott International from $111.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday. BidaskClub cut shares of Marriott International from a “strong-buy” rating to a “buy” rating in a research note on Friday. Stifel Nicolaus reaffirmed a “hold” rating and set a $115.00 price objective (up previously from $98.00) on shares of Marriott International in a research note on Wednesday. Finally, UBS AG reaffirmed a “neutral” rating and set a $101.00 price objective (up previously from $98.00) on shares of Marriott International in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. Marriott International presently has a consensus rating of “Buy” and a consensus target price of $106.64.
In other news, insider Juliana B. Marriott sold 8,400 shares of Marriott International stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $100.51, for a total transaction of $844,284.00. Following the transaction, the insider now owns 18,000 shares in the company, valued at approximately $1,809,180. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider B. Marriott Marital Tr Juliana sold 30,000 shares of Marriott International stock in a transaction on Monday, August 14th. The stock was sold at an average price of $99.84, for a total value of $2,995,200.00. Following the transaction, the insider now owns 493,896 shares in the company, valued at approximately $49,310,576.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,727 shares of company stock worth $11,339,600. 11.32% of the stock is currently owned by corporate insiders.
Shares of Marriott International (NASDAQ MAR) opened at $120.11 on Friday. Marriott International has a one year low of $72.75 and a one year high of $124.34. The company has a current ratio of 0.52, a quick ratio of 0.53 and a debt-to-equity ratio of 1.83. The stock has a market cap of $43,789.82, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 3.10 and a beta of 1.34.
Marriott International (NASDAQ:MAR) last announced its earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 43.7% on a year-over-year basis. sell-side analysts forecast that Marriott International will post 4.24 earnings per share for the current year.
Marriott International declared that its board has approved a stock repurchase program on Thursday, November 9th that authorizes the company to buyback 30,000,000 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.32 annualized dividend and a yield of 1.10%. Marriott International’s dividend payout ratio (DPR) is presently 35.87%.
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Marriott International 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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