Riverhead Capital Management LLC lowered its stake in Marriott International Inc (NASDAQ:MAR) by 47.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,812 shares of the company’s stock after selling 49,226 shares during the quarter. Riverhead Capital Management LLC’s holdings in Marriott International were worth $7,237,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in MAR. Cornerstone Wealth Management LLC acquired a new position in Marriott International in the second quarter valued at approximately $271,000. Eqis Capital Management Inc. lifted its stake in Marriott International by 63.5% during the second quarter. Eqis Capital Management Inc. now owns 4,344 shares of the company’s stock worth $550,000 after purchasing an additional 1,687 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Marriott International by 76.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 57,704 shares of the company’s stock worth $7,305,000 after purchasing an additional 25,088 shares in the last quarter. Alps Advisors Inc. acquired a new position in Marriott International during the second quarter worth $684,000. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in Marriott International by 927.8% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 93,563 shares of the company’s stock worth $11,845,000 after purchasing an additional 84,460 shares in the last quarter. 63.48% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have commented on MAR. Robert W. Baird set a $133.00 price target on Marriott International and gave the stock a “hold” rating in a research note on Friday, October 19th. Zacks Investment Research cut Marriott International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Morgan Stanley decreased their price target on Marriott International from $143.00 to $138.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 8th. BidaskClub upgraded Marriott International from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. Finally, Longbow Research began coverage on Marriott International in a research note on Friday, September 7th. They set a “buy” rating and a $156.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $139.80.
Marriott International stock opened at $113.50 on Wednesday. Marriott International Inc has a twelve month low of $106.96 and a twelve month high of $149.21. The company has a debt-to-equity ratio of 3.75, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market cap of $39.24 billion, a PE ratio of 26.03, a P/E/G ratio of 1.67 and a beta of 1.37.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Monday, November 5th. The company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.39. Marriott International had a return on equity of 68.01% and a net margin of 7.95%. The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Analysts predict that Marriott International Inc will post 6.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Wednesday, November 21st will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Tuesday, November 20th. Marriott International’s dividend payout ratio is currently 37.61%.
In other news, Director Eric Hippeau sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $116.23, for a total transaction of $1,046,070.00. Following the sale, the director now owns 21,762 shares of the company’s stock, valued at $2,529,397.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.99% of the stock is currently owned by corporate insiders.
ILLEGAL ACTIVITY WARNING: This story was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://www.dispatchtribunal.com/2018/12/05/marriott-international-inc-mar-position-trimmed-by-riverhead-capital-management-llc.html.
Marriott International Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through three segments: North American Full-Service, North American Limited-Service, and Asia Pacific. It operates its properties under the JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St.
See Also: Earnings Reports
Want to see what other hedge funds are holding MAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marriott International Inc (NASDAQ:MAR).
Receive News & Ratings for Marriott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marriott International and related companies with MarketBeat.com's FREE daily email newsletter.