Conning Inc. cut its position in Marriott International Inc. (NASDAQ:MAR) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 4,988 shares of the company’s stock after selling 10 shares during the period. Conning Inc.’s holdings in Marriott International were worth $332,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. North Star Investment Management Corp. boosted its stake in shares of Marriott International by 29.6% in the second quarter. North Star Investment Management Corp. now owns 1,533 shares of the company’s stock valued at $102,000 after buying an additional 350 shares in the last quarter. Monetary Management Group Inc. bought a new stake in shares of Marriott International during the first quarter valued at $126,000. Gradient Investments LLC boosted its stake in shares of Marriott International by 0.4% in the second quarter. Gradient Investments LLC now owns 1,958 shares of the company’s stock valued at $130,000 after buying an additional 8 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Marriott International during the first quarter valued at $142,000. Finally, Mercer Capital Advisers Inc. boosted its stake in shares of Marriott International by 250.0% in the second quarter. Mercer Capital Advisers Inc. now owns 2,800 shares of the company’s stock valued at $186,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.
Shares of Marriott International Inc. (NASDAQ:MAR) traded down 0.50% during trading on Tuesday, reaching $67.11. The company had a trading volume of 2,749,182 shares. The company’s 50 day moving average is $70.13 and its 200-day moving average is $68.88. The stock has a market capitalization of $17.07 billion, a price-to-earnings ratio of 20.00 and a beta of 1.28. Marriott International Inc. has a 1-year low of $56.43 and a 1-year high of $79.88.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The company earned $3.90 billion during the quarter, compared to the consensus estimate of $3.91 billion. Marriott International had a net margin of 5.87% and a negative return on equity of 25.25%. Marriott International’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. On average, equities research analysts anticipate that Marriott International Inc. will post $3.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 23rd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, September 21st. Marriott International’s dividend payout ratio (DPR) is 35.71%.
Several brokerages recently weighed in on MAR. Wolfe Research began coverage on Marriott International in a report on Wednesday, July 6th. They set a “market perform” rating for the company. Morgan Stanley raised Marriott International from an “equal weight” rating to an “overweight” rating and set a $78.00 price target for the company in a research report on Monday, September 26th. Vetr raised Marriott International from a “buy” rating to a “strong-buy” rating and set a $75.10 price target for the company in a research report on Monday, June 13th. Credit Agricole SA raised Marriott International from an “underperform” rating to an “outperform” rating in a research report on Monday, August 15th. Finally, Zacks Investment Research lowered Marriott International from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $78.09.
In other news, EVP Anthony Capuano sold 22,538 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $73.60, for a total transaction of $1,658,796.80. Following the transaction, the executive vice president now directly owns 76,184 shares of the company’s stock, valued at $5,607,142.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Craig S. Smith sold 1,373 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $73.30, for a total value of $100,640.90. Following the transaction, the insider now directly owns 15,704 shares in the company, valued at $1,151,103.20. The disclosure for this sale can be found here. 17.07% of the stock is currently owned by corporate insiders.
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 operates through three segments: North American Full-Service, which includes brands, such as The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Marriott Hotels, Delta Hotels and Resorts, and Renaissance Hotels located in the United States and Canada; North American Limited-Service, which includes brands, such as AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites properties and Fairfield Inn & Suites located in the United States and Canada, and International, which includes brands, such as Bulgari Hotels & Resorts, Protea Hotels and Moxy Hotels located outside the United States and Canada.
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