First Republic Investment Management Inc. increased its holdings in shares of Marriott International Inc (NASDAQ:MAR) by 2,282.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,028 shares of the company’s stock after purchasing an additional 46,970 shares during the quarter. First Republic Investment Management Inc.’s holdings in Marriott International were worth $6,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Timber Hill LLC bought a new position in shares of Marriott International during the fourth quarter valued at $992,000. GM Advisory Group Inc. bought a new position in shares of Marriott International during the fourth quarter valued at $214,000. Baird Financial Group Inc. lifted its holdings in shares of Marriott International by 1.4% during the fourth quarter. Baird Financial Group Inc. now owns 27,074 shares of the company’s stock valued at $3,675,000 after purchasing an additional 376 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of Marriott International by 1,084.9% during the fourth quarter. Synovus Financial Corp now owns 21,660 shares of the company’s stock valued at $2,940,000 after purchasing an additional 19,832 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Marriott International by 367.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 738 shares of the company’s stock valued at $100,000 after purchasing an additional 580 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Marriott International Inc (NASDAQ:MAR) opened at $142.17 on Monday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.46 and a quick ratio of 0.46. The company has a market capitalization of $50,816.86, a PE ratio of 32.61, a price-to-earnings-growth ratio of 2.53 and a beta of 1.35. Marriott International Inc has a 1 year low of $85.63 and a 1 year high of $149.21.
Marriott International announced that its Board of Directors 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 buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, February 23rd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, February 22nd. Marriott International’s payout ratio is 36.67%.
In related news, Director Susan C. Schwab purchased 250 shares of Marriott International stock in a transaction on Thursday, February 22nd. The stock was acquired at an average price of $141.47 per share, for a total transaction of $35,367.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anthony Capuano sold 19,510 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $133.51, for a total value of $2,604,780.10. Following the completion of the sale, the executive vice president now owns 23,159 shares of the company’s stock, valued at approximately $3,091,958.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 144,974 shares of company stock valued at $19,851,576. Company insiders own 11.32% of the company’s stock.
MAR has been the topic of a number of recent research reports. Zacks Investment Research raised Marriott International from a “hold” rating to a “buy” rating and set a $158.00 target price on the stock in a report on Friday, January 19th. Royal Bank of Canada reissued a “buy” rating on shares of Marriott International in a report on Tuesday, November 7th. Morgan Stanley reissued a “buy” rating on shares of Marriott International in a report on Friday, December 8th. Sanford C. Bernstein downgraded Marriott International from an “outperform” rating to a “market perform” rating in a report on Thursday, November 16th. Finally, BidaskClub raised Marriott International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Marriott International currently has a consensus rating of “Buy” and a consensus target price of $122.38.
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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