Marriott International Inc. (NASDAQ:MAR) major shareholder Richard E. Marriott sold 71,287 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $70.14, for a total value of $5,000,070.18. Following the completion of the transaction, the insider now owns 12,223,365 shares in the company, valued at approximately $857,346,821.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Marriott International Inc. (NASDAQ:MAR) opened at 67.05 on Wednesday. The stock’s 50 day moving average is $70.82 and its 200-day moving average is $69.03. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of 19.98 and a beta of 1.25. Marriott International Inc. has a 12-month low of $56.43 and a 12-month high of $79.88.
Marriott International (NASDAQ:MAR) last released its earnings results on Wednesday, July 27th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. Marriott International had a net margin of 5.87% and a negative return on equity of 25.25%. The company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Marriott International’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 EPS. On average, analysts expect that Marriott International Inc. will post $3.63 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 23rd will be issued a $0.30 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $1.20 dividend on an annualized basis and a yield of 1.79%. Marriott International’s dividend payout ratio is currently 35.71%.
Several research firms recently commented on MAR. Morgan Stanley dropped their price objective on Marriott International from $74.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 28th. Vetr downgraded Marriott International from a “strong-buy” rating to a “buy” rating and set a $73.94 price objective on the stock. in a research note on Tuesday, May 31st. Zacks Investment Research upgraded Marriott International from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Goldman Sachs Group Inc. began coverage on Marriott International in a research report on Monday. They set a “buy” rating and a $81.00 target price on the stock. Finally, Credit Agricole SA upgraded Marriott International from an “underperform” rating to an “outperform” rating in a research report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $78.09.
A number of hedge funds have recently made changes to their positions in MAR. Legal & General Group Plc increased its stake in shares of Marriott International by 0.7% in the first quarter. Legal & General Group Plc now owns 860,879 shares of the company’s stock worth $61,278,000 after buying an additional 5,724 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Marriott International by 0.7% in the first quarter. Geode Capital Management LLC now owns 1,619,707 shares of the company’s stock worth $115,066,000 after buying an additional 10,997 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of Marriott International by 1.2% in the second quarter. State Treasurer State of Michigan now owns 66,219 shares of the company’s stock worth $4,401,000 after buying an additional 800 shares in the last quarter. Windward Capital Management Co. CA increased its stake in shares of Marriott International by 0.8% in the second quarter. Windward Capital Management Co. CA now owns 143,563 shares of the company’s stock worth $9,541,000 after buying an additional 1,154 shares in the last quarter. Finally, World Asset Management Inc increased its stake in shares of Marriott International by 2.7% in the second quarter. World Asset Management Inc now owns 18,659 shares of the company’s stock worth $1,240,000 after buying an additional 489 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.
About Marriott International
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It also develops, operates and markets residential properties, and provides services to home or condominium owner associations.
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