Suvretta Capital Management LLC Cuts Holdings in Marriott International Inc (MAR)

Suvretta Capital Management LLC decreased its position in Marriott International Inc (NASDAQ:MAR) by 18.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 838,940 shares of the company’s stock after selling 185,670 shares during the period. Marriott International comprises 2.6% of Suvretta Capital Management LLC’s portfolio, making the stock its 13th biggest position. Suvretta Capital Management LLC owned about 0.23% of Marriott International worth $92,502,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAR. Advisory Services Network LLC increased its holdings in shares of Marriott International by 1,490.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock worth $113,000 after acquiring an additional 1,058 shares during the last quarter. Baker Ellis Asset Management LLC acquired a new position in shares of Marriott International during the 2nd quarter worth approximately $133,000. First Quadrant L P CA acquired a new position in shares of Marriott International during the 3rd quarter worth approximately $136,000. Grove Bank & Trust increased its holdings in shares of Marriott International by 214.8% during the 3rd quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock worth $136,000 after acquiring an additional 840 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its holdings in shares of Marriott International by 175.6% during the 3rd quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock worth $147,000 after acquiring an additional 843 shares during the last quarter. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Shares of Marriott International Inc (MAR) opened at $127.30 on Thursday. The firm has a market capitalization of $46,495.05, a price-to-earnings ratio of 31.18, a PEG ratio of 3.19 and a beta of 1.35. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.83. Marriott International Inc has a 1 year low of $81.04 and a 1 year high of $129.56.

Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share 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%. The company’s revenue was up 43.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. 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 authorized a stock repurchase program on Thursday, November 9th that allows the company to buyback 30,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.04%. Marriott International’s payout ratio is 35.87%.

In other news, insider Deborah Marriott Harrison sold 130,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 114,155 shares in the company, valued at approximately $13,603,851.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Edward A. Ryan sold 5,900 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $127.22, for a total value of $750,598.00. Following the sale, the executive vice president now owns 61,956 shares of the company’s stock, valued at $7,882,042.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,487 shares of company stock valued at $22,005,029. Corporate insiders own 11.32% of the company’s stock.

A number of research analysts recently weighed in on MAR shares. Berenberg Bank reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Marriott International in a report on Friday, August 18th. BidaskClub lowered Marriott International from a “strong-buy” rating to a “buy” rating in a report on Monday, August 14th. Zacks Investment Research raised Marriott International from a “hold” rating to a “buy” rating and set a $130.00 price objective 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. Finally, Barclays upped their price objective on Marriott International from $105.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, November 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $110.09.

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About Marriott International

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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Institutional Ownership by Quarter for Marriott International (NASDAQ:MAR)

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