ING Groep NV reduced its position in Marriott International Inc. (NASDAQ:MAR) by 62.4% during the second quarter, Holdings Channel reports. The institutional investor owned 11,619 shares of the company’s stock after selling 19,305 shares during the period. ING Groep NV’s holdings in Marriott International were worth $772,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of MAR. Credit Agricole S A increased its position in Marriott International by 18.4% in the first quarter. Credit Agricole S A now owns 162,796 shares of the company’s stock worth $11,589,000 after buying an additional 25,282 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in Marriott International by 12.3% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,139 shares of the company’s stock worth $651,000 after buying an additional 1,000 shares in the last quarter. Associated Banc Corp increased its position in Marriott International by 9.2% in the first quarter. Associated Banc Corp now owns 7,148 shares of the company’s stock worth $508,000 after buying an additional 600 shares in the last quarter. Wunderlich Capital Managemnt increased its position in Marriott International by 2.5% in the first quarter. Wunderlich Capital Managemnt now owns 19,311 shares of the company’s stock worth $1,375,000 after buying an additional 467 shares in the last quarter. Finally, Monetary Management Group Inc. acquired a new position in Marriott International during the first quarter worth $126,000. 73.73% of the stock is owned by hedge funds and other institutional investors.
Shares of Marriott International Inc. (NASDAQ:MAR) traded down 0.55% during midday trading on Friday, reaching $67.14. The company had a trading volume of 2,879,741 shares. The firm has a market capitalization of $17.08 billion, a price-to-earnings ratio of 20.01 and a beta of 1.28. Marriott International Inc. has a 12-month low of $56.43 and a 12-month high of $79.88. The company has a 50 day moving average of $69.66 and a 200 day moving average of $68.82.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.05. Marriott International had a negative return on equity of 25.25% and a net margin of 5.87%. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the previous year, the firm earned $0.82 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts anticipate that Marriott International Inc. will post $3.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 23rd were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.79%. The ex-dividend date was Wednesday, September 21st. Marriott International’s dividend payout ratio (DPR) is presently 35.71%.
A number of research analysts have recently weighed in on MAR shares. Telsey Advisory Group cut their price target on shares of Marriott International from $74.00 to $70.00 and set a “market perform” rating on the stock in a report on Friday, September 23rd. Vetr downgraded shares of Marriott International from a “buy” rating to a “hold” rating and set a $74.52 price target on the stock. in a report on Monday, August 1st. Morgan Stanley upgraded shares of Marriott International from an “equal weight” rating to an “overweight” rating and set a $78.00 target price on the stock in a report on Monday, September 26th. Stifel Nicolaus lifted their target price on shares of Marriott International from $65.00 to $66.00 and gave the stock a “hold” rating in a report on Monday, September 26th. Finally, Sanford C. Bernstein initiated coverage on shares of Marriott International in a report on Thursday, September 8th. They issued an “outperform” rating and a $87.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $78.09.
In related news, insider Argiris Kyriakidis sold 3,000 shares of Marriott International stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $71.49, for a total transaction of $214,470.00. Following the sale, the insider now owns 21,658 shares of the company’s stock, valued at approximately $1,548,330.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony Capuano sold 22,538 shares of Marriott International stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $73.60, for a total value of $1,658,796.80. Following the completion of the sale, the executive vice president now directly owns 76,184 shares in the company, valued at approximately $5,607,142.40. The disclosure for this sale can be found here. Corporate insiders own 17.07% 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 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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