Prudential Financial Inc. trimmed its position in Marriott International (NASDAQ:MAR) by 0.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 433,373 shares of the company’s stock after selling 1,649 shares during the period. Prudential Financial Inc. owned about 0.12% of Marriott International worth $47,784,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC boosted its position in Marriott International by 1,490.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after buying an additional 1,058 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Marriott International in the 1st quarter valued at $115,000. Baker Ellis Asset Management LLC bought a new position in Marriott International in the 2nd quarter valued at $133,000. First Quadrant L P CA bought a new position in Marriott International in the 3rd quarter valued at $136,000. Finally, Carroll Financial Associates Inc. boosted its position in shares of Marriott International by 175.6% in the 3rd quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock worth $147,000 after purchasing an additional 843 shares during the last quarter. Hedge funds and other institutional investors own 66.06% of the company’s stock.
In other Marriott International news, EVP Anthony Capuano sold 13,736 shares of Marriott International stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $107.78, for a total value of $1,480,466.08. Following the sale, the executive vice president now owns 42,669 shares of the company’s stock, valued at approximately $4,598,864.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Juliana B. Marriott sold 8,400 shares of Marriott International stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $100.51, for a total value of $844,284.00. Following the completion of the sale, the insider now directly owns 18,000 shares in the company, valued at approximately $1,809,180. The disclosure for this sale can be found here. Insiders sold a total of 110,727 shares of company stock worth $11,339,600 in the last three months. Company insiders own 11.32% of the company’s stock.
Marriott International (NASDAQ:MAR) opened at $120.11 on Friday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.53 and a current ratio of 0.52. The firm has a market capitalization of $43,789.82, a PE ratio of 29.37, a price-to-earnings-growth ratio of 3.10 and a beta of 1.34. Marriott International has a twelve month low of $72.75 and a twelve month high of $124.34.
Marriott International (NASDAQ:MAR) last posted 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 return on equity of 31.58% and a net margin of 6.30%. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 43.7% on a year-over-year basis. equities analysts predict that Marriott International will post 4.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s dividend payout ratio is 35.87%.
Marriott International announced that its board has initiated a share repurchase plan on Thursday, November 9th that authorizes the company to repurchase 30,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
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MAR has been the topic of several recent research reports. Wolfe Research upgraded Marriott International from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 30th. BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 12th. Berenberg Bank restated a “buy” rating and issued a $125.00 price target on shares of Marriott International in a research report on Friday, August 18th. J P Morgan Chase & Co restated an “overweight” rating and issued a $113.00 price target (up from $111.00) on shares of Marriott International in a research report on Wednesday, August 9th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Marriott International in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Marriott International has an average rating of “Buy” and a consensus target price of $106.64.
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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