Sumitomo Life Insurance Co. trimmed its position in Marriott International Inc (NASDAQ:MAR) by 10.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,855 shares of the company’s stock after selling 1,864 shares during the period. Sumitomo Life Insurance Co.’s holdings in Marriott International were worth $2,108,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. American Research & Management Co. increased its holdings in Marriott International by 4.1% during the 1st quarter. American Research & Management Co. now owns 12,603 shares of the company’s stock worth $1,577,000 after purchasing an additional 498 shares in the last quarter. Pennsylvania Trust Co purchased a new position in shares of Marriott International in the 1st quarter worth approximately $349,000. Lincoln Capital LLC boosted its stake in shares of Marriott International by 101.8% in the 1st quarter. Lincoln Capital LLC now owns 6,467 shares of the company’s stock worth $809,000 after buying an additional 3,262 shares during the last quarter. TIAA FSB boosted its stake in shares of Marriott International by 12.0% in the 1st quarter. TIAA FSB now owns 21,486 shares of the company’s stock worth $2,688,000 after buying an additional 2,307 shares during the last quarter. Finally, First Manhattan Co. boosted its stake in shares of Marriott International by 21.8% in the 1st quarter. First Manhattan Co. now owns 570 shares of the company’s stock worth $71,000 after buying an additional 102 shares during the last quarter. 66.83% of the stock is owned by institutional investors and hedge funds.
In related news, insider William P. Brown sold 11,640 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $121.53, for a total value of $1,414,609.20. Following the transaction, the insider now owns 5,704 shares in the company, valued at $693,207.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Craig S. Smith sold 16,743 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $120.35, for a total value of $2,015,020.05. Following the completion of the transaction, the insider now owns 7,754 shares in the company, valued at approximately $933,193.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,730 shares of company stock worth $16,924,619. 12.99% of the stock is owned by company insiders.
Marriott International stock opened at $136.36 on Wednesday. Marriott International Inc has a 12 month low of $100.62 and a 12 month high of $142.19. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.83. The company has a market capitalization of $45.72 billion, a P/E ratio of 21.96, a PEG ratio of 2.04 and a beta of 1.21.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Thursday, February 28th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.40 by $0.04. Marriott International had a return on equity of 80.36% and a net margin of 8.74%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. On average, analysts predict that Marriott International Inc will post 6.05 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a $0.41 dividend. The ex-dividend date was Thursday, February 28th. This represents a $1.64 annualized dividend and a yield of 1.20%. Marriott International’s payout ratio is 26.41%.
A number of equities analysts have recently weighed in on MAR shares. BidaskClub upgraded Marriott International from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Morgan Stanley set a $116.00 target price on Marriott International and gave the stock a “hold” rating in a research note on Thursday, December 20th. SunTrust Banks boosted their target price on Marriott International to $137.00 and gave the stock a “positive” rating in a research note on Monday, March 4th. Barclays boosted their target price on Marriott International to $135.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 5th. They noted that the move was a valuation call. Finally, Berenberg Bank restated a “buy” rating and issued a $140.00 target price on shares of Marriott International in a research note on Tuesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $135.29.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through three segments: North American Full-Service, North American Limited-Service, and Asia Pacific. It operates its properties under the JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St.
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