BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Marriott International Inc (NASDAQ:MAR) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 196,841 shares of the company’s stock after selling 1,642 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.05% of Marriott International worth $21,704,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. AHL Partners LLP grew its position in shares of Marriott International by 230.4% during the 2nd quarter. AHL Partners LLP now owns 19,615 shares of the company’s stock valued at $1,967,000 after acquiring an additional 13,679 shares during the period. Numeric Investors LLC bought a new position in Marriott International in the 2nd quarter worth approximately $772,000. State Board of Administration of Florida Retirement System boosted its holdings in 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 buying an additional 3,140 shares during the period. Asset Advisors Corp boosted its holdings in Marriott International by 1.0% in the 3rd quarter. Asset Advisors Corp now owns 121,972 shares of the company’s stock worth $13,449,000 after buying an additional 1,175 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Marriott International by 28.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,259,396 shares of the company’s stock valued at $126,329,000 after purchasing an additional 275,382 shares during the period. Institutional investors own 66.65% of the company’s stock.
MAR has been the topic of several research reports. Robert W. Baird restated a “hold” rating and set a $103.00 price objective on shares of Marriott International in a research report on Sunday, September 17th. BidaskClub upgraded shares of Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 22nd. Stifel Nicolaus reissued a “hold” rating and issued a $98.00 price target on shares of Marriott International in a report on Thursday, October 12th. Zacks Investment Research raised shares of Marriott International from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Thursday, October 26th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Marriott International in a report on Tuesday, November 7th. One research 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 an average rating of “Buy” and an average price target of $111.62.
Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.12. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. Marriott International’s revenue for the quarter was up 43.7% on a year-over-year basis. equities research analysts anticipate that Marriott International Inc will post 4.24 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Wednesday, November 22nd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Tuesday, November 21st. Marriott International’s dividend payout ratio is currently 35.87%.
Marriott International announced that its board has approved a share repurchase program on Thursday, November 9th that authorizes the company to repurchase 30,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Marriott International news, insider Craig S. Smith sold 5,840 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $136.26, for a total transaction of $795,758.40. Following the transaction, the insider now directly owns 26,317 shares in the company, valued at approximately $3,585,954.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Deborah Marriott Harrison sold 130,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 114,155 shares in the company, valued at $13,603,851.35. The disclosure for this sale can be found here. Insiders sold a total of 215,985 shares of company stock worth $26,583,062 in the last ninety days. 11.32% of the stock is currently owned by insiders.
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Marriott International 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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