Parallel Advisors LLC trimmed its position in shares of Marriott International Inc (NASDAQ:MAR) by 27.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,535 shares of the company’s stock after selling 979 shares during the quarter. Parallel Advisors LLC’s holdings in Marriott International were worth $305,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Marriott International by 1.7% during the second quarter. Vanguard Group Inc. now owns 19,999,062 shares of the company’s stock valued at $2,006,106,000 after acquiring an additional 331,586 shares in the last quarter. FMR LLC increased its holdings in shares of Marriott International by 32.5% during the second quarter. FMR LLC now owns 15,406,182 shares of the company’s stock valued at $1,545,394,000 after acquiring an additional 3,780,639 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Marriott International by 7.2% during the second quarter. Capital Research Global Investors now owns 12,763,000 shares of the company’s stock valued at $1,280,257,000 after acquiring an additional 862,710 shares in the last quarter. Eaton Vance Management increased its holdings in shares of Marriott International by 13.1% during the second quarter. Eaton Vance Management now owns 2,371,202 shares of the company’s stock valued at $237,855,000 after acquiring an additional 275,477 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Marriott International by 11.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,681,372 shares of the company’s stock valued at $185,388,000 after acquiring an additional 167,692 shares in the last quarter. 66.83% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Anthony Capuano sold 13,736 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $107.78, for a total transaction of $1,480,466.08. Following the transaction, the executive vice president now owns 42,669 shares in the company, valued at approximately $4,598,864.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Deborah Marriott Harrison sold 130,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $119.17, for a total value of $15,492,100.00. Following the transaction, the insider now owns 114,155 shares in the company, valued at approximately $13,603,851.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 192,014 shares of company stock worth $22,845,638. Insiders own 11.32% of the company’s stock.
Shares of Marriott International Inc (NASDAQ:MAR) opened at $128.76 on Wednesday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.52 and a quick ratio of 0.52. Marriott International Inc has a 52-week low of $81.04 and a 52-week high of $129.99. The company has a market capitalization of $47,147.66, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 3.23 and a beta of 1.35.
Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.12. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. The business’s quarterly revenue was up 43.7% compared to the same quarter last year. sell-side analysts forecast that Marriott International Inc will post 4.24 earnings per share for the current year.
Marriott International declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 9th that allows the company to buyback 30,000,000 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.32 annualized dividend and a yield of 1.03%. Marriott International’s dividend payout ratio is presently 35.87%.
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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