Gamco Investors INC. ET AL decreased its position in shares of Marriott International (NASDAQ:MAR) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,100 shares of the company’s stock after selling 1,100 shares during the period. Gamco Investors INC. ET AL’s holdings in Marriott International were worth $783,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norris Perne & French LLP MI increased its stake in Marriott International by 2.1% during the 3rd quarter. Norris Perne & French LLP MI now owns 96,991 shares of the company’s stock worth $10,694,000 after buying an additional 2,032 shares during the period. State of Wisconsin Investment Board increased its position in shares of Marriott International by 5.5% in the 3rd quarter. State of Wisconsin Investment Board now owns 282,015 shares of the company’s stock worth $31,095,000 after purchasing an additional 14,815 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Marriott International by 1.8% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,508 shares of the company’s stock worth $5,238,000 after purchasing an additional 840 shares during the last quarter. Seatown Holdings Pte. Ltd. bought a new stake in shares of Marriott International in the 3rd quarter worth about $8,258,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Marriott International by 0.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 467,559 shares of the company’s stock worth $51,553,000 after purchasing an additional 3,140 shares during the last quarter. 65.88% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Edward A. Ryan sold 6,550 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $120.40, for a total value of $788,620.00. Following the completion of the sale, the executive vice president now directly owns 67,856 shares of the company’s stock, valued at approximately $8,169,862.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Deborah Marriott Harrison sold 130,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $13,603,851.35. The disclosure for this sale can be found here. Insiders have sold a total of 200,477 shares of company stock valued at $22,936,552 over the last three months. 11.32% of the stock is currently owned by company insiders.
Marriott International (NASDAQ MAR) opened at $123.06 on Wednesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market cap of $44,870.00, a PE ratio of 29.43, a price-to-earnings-growth ratio of 3.03 and a beta of 1.34. Marriott International has a one year low of $76.74 and a one year high of $124.34.
Marriott International (NASDAQ:MAR) last posted its earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) 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 analyst estimates of $5.22 billion. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. Marriott International’s revenue was up 43.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. equities research analysts predict that Marriott International will post 4.22 earnings per share for the current fiscal year.
Marriott International announced that its board has approved a share repurchase program on Thursday, November 9th that allows the company to repurchase 30,000,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Tuesday, November 21st. Marriott International’s payout ratio is 35.87%.
Several equities research analysts have recently weighed in on MAR shares. Berenberg Bank reissued a “buy” rating and issued a $125.00 target price on shares of Marriott International in a research report on Friday, August 18th. BidaskClub downgraded shares of Marriott International from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 14th. Zacks Investment Research raised shares of Marriott International from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Thursday, October 26th. Royal Bank Of Canada reissued a “buy” rating on shares of Marriott International in a research report on Tuesday, November 7th. Finally, Robert W. Baird reissued a “hold” rating and issued a $103.00 target price on shares of Marriott International in a research report on Sunday, September 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. Marriott International currently has an average rating of “Buy” and a consensus price target of $106.64.
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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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