LMR Partners LLP raised its stake in Marriott International Inc (NASDAQ:MAR) by 108.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,944 shares of the company’s stock after buying an additional 17,105 shares during the period. LMR Partners LLP’s holdings in Marriott International were worth $4,471,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of MAR. Thrivent Financial For Lutherans increased its holdings in shares of Marriott International by 7.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 16,926 shares of the company’s stock worth $1,698,000 after buying an additional 1,190 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Marriott International during the 2nd quarter valued at $12,506,000. Hancock Holding Co. grew its holdings in shares of Marriott International by 1.9% during the 2nd quarter. Hancock Holding Co. now owns 4,876 shares of the company’s stock valued at $489,000 after purchasing an additional 91 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Marriott International by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 783,491 shares of the company’s stock valued at $78,593,000 after purchasing an additional 5,367 shares during the last quarter. Finally, Numeric Investors LLC bought a new position in shares of Marriott International during the 2nd quarter valued at $772,000. 66.62% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Stephanie Linnartz sold 8,333 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $122.82, for a total value of $1,023,459.06. Following the completion of the sale, the executive vice president now directly owns 28,263 shares of the company’s stock, valued at approximately $3,471,261.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Craig S. Smith sold 5,840 shares of the firm’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $136.26, for a total transaction of $795,758.40. Following the completion of the sale, the insider now directly owns 26,317 shares of the company’s stock, valued at $3,585,954.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,775 shares of company stock valued at $10,794,225. Corporate insiders own 11.32% of the company’s stock.
Shares of Marriott International Inc (MAR) traded up $1.51 during trading on Wednesday, reaching $140.61. 1,977,400 shares of the company’s stock were exchanged, compared to its average volume of 2,269,482. The company has a market cap of $50,713.26, a price-to-earnings ratio of 38.21, a PEG ratio of 2.26 and a beta of 1.35. Marriott International Inc has a 1-year low of $85.63 and a 1-year high of $149.21. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.52 and a current ratio of 0.52.
Marriott International announced that its board has approved a stock buyback program 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. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, February 23rd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, February 22nd. Marriott International’s dividend payout ratio (DPR) is presently 35.87%.
Several equities analysts recently commented on MAR shares. 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. Zacks Investment Research raised shares of Marriott International from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Thursday, October 26th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Marriott International in a report on Tuesday, November 7th. Stifel Nicolaus reaffirmed a “hold” rating and set a $115.00 target price (up previously from $98.00) on shares of Marriott International in a report on Wednesday, November 8th. Finally, SunTrust Banks increased their target price on shares of Marriott International to $108.00 and gave the company a “hold” rating in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Marriott International presently has an average rating of “Buy” and a consensus target price of $119.64.
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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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