Norris Perne & French LLP MI reduced its holdings in Marriott International Inc (NASDAQ:MAR) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,854 shares of the company’s stock after selling 2,137 shares during the quarter. Marriott International makes up 1.9% of Norris Perne & French LLP MI’s portfolio, making the stock its 11th biggest holding. Norris Perne & French LLP MI’s holdings in Marriott International were worth $12,875,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. First American Bank grew its position in Marriott International by 5.0% during the fourth quarter. First American Bank now owns 53,639 shares of the company’s stock valued at $7,280,000 after acquiring an additional 2,551 shares during the period. Strs Ohio grew its position in Marriott International by 1.3% during the fourth quarter. Strs Ohio now owns 449,587 shares of the company’s stock valued at $61,022,000 after acquiring an additional 5,963 shares during the period. UMB Bank N A MO grew its position in Marriott International by 3.6% during the fourth quarter. UMB Bank N A MO now owns 149,587 shares of the company’s stock valued at $20,303,000 after acquiring an additional 5,184 shares during the period. Asset Advisors Corp grew its position in Marriott International by 0.6% during the fourth quarter. Asset Advisors Corp now owns 122,672 shares of the company’s stock valued at $16,650,000 after acquiring an additional 700 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its position in Marriott International by 7.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,212 shares of the company’s stock valued at $1,793,000 after acquiring an additional 908 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.
In other Marriott International news, insider Deborah Marriott Harrison sold 130,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $119.17, for a total transaction of $15,492,100.00. Following the sale, the insider now owns 114,155 shares in the company, valued at $13,603,851.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Craig S. Smith sold 5,840 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $136.26, for a total value of $795,758.40. Following the sale, the insider now owns 26,317 shares in the company, valued at approximately $3,585,954.42. The disclosure for this sale can be found here. Insiders sold 221,825 shares of company stock valued at $27,378,820 in the last three months. 11.32% of the stock is currently owned by company insiders.
A number of equities research analysts have issued reports on MAR shares. BidaskClub raised Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 12th. Zacks Investment Research raised Marriott International from a “hold” rating to a “buy” rating and set a $158.00 price target for the company in a research report on Friday. Sanford C. Bernstein downgraded Marriott International from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 16th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $132.00 target price on shares of Marriott International in a research report on Tuesday, January 9th. Finally, Barclays upped their target price 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $114.26.
Shares of Marriott International Inc (NASDAQ MAR) traded down $0.26 on Tuesday, reaching $143.81. The company had a trading volume of 2,153,900 shares, compared to its average volume of 2,416,707. The stock has a market capitalization of $53,160.00, a P/E ratio of 39.08, a P/E/G ratio of 2.34 and a beta of 1.35. Marriott International Inc has a 1 year low of $83.81 and a 1 year high of $144.29. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.52 and a quick ratio of 0.52.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.22 billion. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. Marriott International’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. sell-side analysts anticipate that Marriott International Inc will post 4.24 earnings per share for the current year.
Marriott International announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 9th that permits the company to buyback 30,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Wednesday, November 22nd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Tuesday, November 21st. Marriott International’s dividend payout ratio is currently 35.87%.
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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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