DAVENPORT & Co LLC cut its stake in Marriott International Inc (NASDAQ:MAR) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,272 shares of the company’s stock after selling 3,176 shares during the quarter. DAVENPORT & Co LLC’s holdings in Marriott International were worth $1,395,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in shares of Marriott International by 15.9% in the first quarter. The Manufacturers Life Insurance Company now owns 298,562 shares of the company’s stock valued at $22,335,000 after purchasing an additional 41,039 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Marriott International by 24.6% in the second quarter. North Star Investment Management Corp. now owns 1,973 shares of the company’s stock valued at $169,000 after purchasing an additional 390 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Marriott International by 19.4% in the second quarter. Parallel Advisors LLC now owns 3,306 shares of the company’s stock valued at $283,000 after purchasing an additional 536 shares in the last quarter. AlphaCrest Capital Management LLC grew its position in shares of Marriott International by 673.7% in the first quarter. AlphaCrest Capital Management LLC now owns 18,321 shares of the company’s stock valued at $1,371,000 after purchasing an additional 15,953 shares in the last quarter. Finally, Advisor Group Holdings Inc. purchased a new position in shares of Marriott International in the first quarter valued at $3,228,000. Institutional investors own 62.85% of the company’s stock.
Several equities analysts recently commented on MAR shares. BMO Capital Markets boosted their target price on Marriott International from $65.00 to $74.00 and gave the stock an “underperform” rating in a research report on Monday, May 11th. SunTrust Banks boosted their target price on Marriott International from $83.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. ValuEngine upgraded Marriott International from a “hold” rating to a “buy” rating in a research report on Friday, July 3rd. Wolfe Research cut Marriott International from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 9th. Finally, Zacks Investment Research upgraded Marriott International from a “sell” rating to a “hold” rating and set a $91.00 target price for the company in a research report on Tuesday, June 30th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have issued a buy rating to the company’s stock. Marriott International currently has an average rating of “Hold” and a consensus price target of $111.91.
NASDAQ MAR opened at $83.83 on Friday. Marriott International Inc has a 1-year low of $46.56 and a 1-year high of $153.39. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 15.43. The stock has a 50-day moving average of $88.50 and a 200-day moving average of $101.56. The firm has a market cap of $27.73 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 45.45 and a beta of 1.60.
Marriott International (NASDAQ:MAR) last released its earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.64). Marriott International had a net margin of 4.50% and a return on equity of 231.22%. The company had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the firm posted $1.41 EPS. The company’s revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts forecast that Marriott International Inc will post 0.31 earnings per share for the current fiscal year.
Marriott International Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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