Neuberger Berman Group LLC lowered its stake in Marriott International Inc (NASDAQ:MAR) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,494,872 shares of the company’s stock after selling 18,857 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.41% of Marriott International worth $164,825,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in MAR. AHL Partners LLP increased its position in Marriott International by 230.4% during the second quarter. AHL Partners LLP now owns 19,615 shares of the company’s stock worth $1,967,000 after buying an additional 13,679 shares during the last quarter. Numeric Investors LLC acquired a new position in Marriott International during the second quarter worth approximately $772,000. State Board of Administration of Florida Retirement System increased its position in Marriott International by 0.7% during the third quarter. State Board of Administration of Florida Retirement System now owns 467,559 shares of the company’s stock worth $51,553,000 after buying an additional 3,140 shares during the last quarter. Asset Advisors Corp increased its position in Marriott International by 1.0% during the third quarter. Asset Advisors Corp now owns 121,972 shares of the company’s stock worth $13,449,000 after buying an additional 1,175 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Marriott International by 28.0% during the second quarter. Wells Fargo & Company MN now owns 1,259,396 shares of the company’s stock worth $126,329,000 after buying an additional 275,382 shares during the last quarter. 66.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of Marriott International Inc (MAR) opened at $128.47 on Thursday. Marriott International Inc has a 1-year low of $81.04 and a 1-year high of $129.99. The stock has a market capitalization of $46,874.22, a P/E ratio of 31.43, a PEG ratio of 3.21 and a beta of 1.35. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.83.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.12. The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The business’s revenue was up 43.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. equities research analysts expect that Marriott International Inc will post 4.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors 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 1.03%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s dividend payout ratio (DPR) is currently 35.87%.
Marriott International announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 9th that authorizes the company to repurchase 30,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
MAR has been the topic of a number of recent analyst reports. BidaskClub raised Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 12th. Sanford C. Bernstein downgraded Marriott International from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 16th. Barclays boosted their price target on Marriott International from $105.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 28th. Deutsche Bank reissued a “hold” rating and set a $124.00 price target on shares of Marriott International in a research report on Wednesday, December 6th. Finally, Robert W. Baird set a $103.00 price objective on Marriott International and gave the stock a “hold” rating in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $110.86.
In related news, insider Argiris Kyriakidis sold 3,000 shares of the business’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 value of $323,520.00. Following the completion of the sale, the insider now directly owns 16,079 shares in the company, valued at $1,733,959.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Anthony Capuano sold 13,736 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $107.78, for a total value of $1,480,466.08. Following the completion of the sale, the executive vice president now owns 42,669 shares of the company’s stock, valued at $4,598,864.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,658 shares of company stock valued at $23,963,653. 11.32% of the stock is currently owned by corporate insiders.
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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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