Cornerstone Capital Management Holdings LLC. decreased its position in shares of Marriott International (NASDAQ:MAR) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 53,653 shares of the company’s stock after selling 890 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Marriott International were worth $5,381,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in Marriott International in the 1st quarter worth about $115,000. Baker Ellis Asset Management LLC bought a new position in Marriott International in the 2nd quarter worth about $133,000. North Star Investment Management Corp. boosted its stake in Marriott International by 3.3% in the 2nd quarter. North Star Investment Management Corp. now owns 1,583 shares of the company’s stock worth $159,000 after purchasing an additional 50 shares during the period. Regal Wealth Group Inc. boosted its stake in Marriott International by 0.3% in the 2nd quarter. Regal Wealth Group Inc. now owns 1,637 shares of the company’s stock worth $164,000 after purchasing an additional 5 shares during the period. Finally, Alexandria Capital LLC boosted its stake in Marriott International by 0.7% in the 2nd quarter. Alexandria Capital LLC now owns 1,644 shares of the company’s stock worth $165,000 after purchasing an additional 12 shares during the period. Institutional investors own 65.88% of the company’s stock.
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Several research analysts have commented on MAR shares. Zacks Investment Research upgraded Marriott International from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Robert W. Baird restated a “hold” rating and issued a $103.00 target price on shares of Marriott International in a research note on Sunday, September 17th. UBS AG restated a “neutral” rating and issued a $101.00 target price (up previously from $98.00) on shares of Marriott International in a research note on Monday, August 14th. Finally, Wolfe Research upgraded Marriott International from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $99.68.
Marriott International (NASDAQ MAR) opened at 114.12 on Thursday. The company’s 50 day moving average price is $106.43 and its 200-day moving average price is $101.89. The stock has a market capitalization of $42.50 billion, a PE ratio of 37.45 and a beta of 1.36. Marriott International has a one year low of $65.91 and a one year high of $114.42.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, August 7th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The firm’s revenue was up 48.5% on a year-over-year basis. Analysts expect that Marriott International will post $4.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, August 24th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Tuesday, August 22nd. Marriott International’s payout ratio is presently 45.52%.
In other news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $99.84, for a total value of $2,995,200.00. Following the completion of the sale, the insider now directly owns 493,896 shares of the company’s stock, valued at approximately $49,310,576.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward A. Ryan sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $108.00, for a total value of $648,000.00. Following the completion of the sale, the executive vice president now directly owns 74,406 shares of the company’s stock, valued at $8,035,848. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,727 shares of company stock valued at $11,339,600. 11.32% of the stock is owned by corporate insiders.
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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