E Fund Management Co. Ltd. raised its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 6.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,374 shares of the company's stock after acquiring an additional 966 shares during the period. E Fund Management Co. Ltd.'s holdings in Marriott International were worth $3,662,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in MAR. GAMMA Investing LLC increased its position in shares of Marriott International by 23,923.3% during the 1st quarter. GAMMA Investing LLC now owns 731,989 shares of the company's stock valued at $174,360,000 after purchasing an additional 728,942 shares during the period. Nuveen LLC acquired a new position in shares of Marriott International during the 1st quarter valued at $166,059,000. Invesco Ltd. increased its position in shares of Marriott International by 18.9% during the 1st quarter. Invesco Ltd. now owns 4,123,836 shares of the company's stock valued at $982,298,000 after purchasing an additional 654,766 shares during the period. Northern Trust Corp increased its position in shares of Marriott International by 16.3% during the 4th quarter. Northern Trust Corp now owns 2,333,994 shares of the company's stock valued at $651,044,000 after purchasing an additional 327,415 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Marriott International during the 4th quarter valued at $88,062,000. Institutional investors own 70.70% of the company's stock.
Insiders Place Their Bets
In related news, CEO Anthony Capuano sold 12,000 shares of Marriott International stock in a transaction on Friday, May 30th. The stock was sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the completion of the sale, the chief executive officer owned 124,067 shares of the company's stock, valued at approximately $32,741,281.30. This trade represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rajeev Menon sold 2,500 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the sale, the insider directly owned 5,706 shares of the company's stock, valued at $1,530,805.68. This represents a 30.47% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by company insiders.
Analyst Ratings Changes
MAR has been the topic of several research analyst reports. UBS Group lowered their price target on Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Robert W. Baird lifted their price target on Marriott International from $265.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. BMO Capital Markets decreased their target price on Marriott International from $285.00 to $280.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. Dbs Bank upgraded Marriott International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 14th. Finally, Morgan Stanley decreased their target price on Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $280.89.
Read Our Latest Stock Analysis on MAR
Marriott International Stock Performance
Shares of NASDAQ MAR traded down $3.15 during mid-day trading on Thursday, reaching $266.55. The company had a trading volume of 1,153,232 shares, compared to its average volume of 1,546,599. The stock has a fifty day moving average of $269.02 and a two-hundred day moving average of $261.07. The company has a market capitalization of $72.36 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.57 and a beta of 1.44. Marriott International, Inc. has a 12-month low of $205.40 and a 12-month high of $307.52.
Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.65. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.66 billion. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.50 earnings per share. Sell-side analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.
Marriott International announced that its Board of Directors has authorized a share repurchase program on Thursday, August 7th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.
Marriott International Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, August 21st will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $2.68 dividend on an annualized basis and a yield of 1.0%. Marriott International's dividend payout ratio (DPR) is presently 30.21%.
About Marriott International
(
Free Report)
Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.
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