Millennium Management LLC lifted its position in shares of Marriott International Inc (NASDAQ:MAR) by 119.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,343 shares of the company’s stock after acquiring an additional 115,666 shares during the quarter. Millennium Management LLC’s holdings in Marriott International were worth $28,821,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. New York State Common Retirement Fund raised its position in shares of Marriott International by 0.9% during the 3rd quarter. New York State Common Retirement Fund now owns 1,107,020 shares of the company’s stock worth $122,060,000 after purchasing an additional 10,300 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Marriott International by 66.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,481 shares of the company’s stock worth $163,000 after purchasing an additional 590 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Marriott International by 32.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,246,262 shares of the company’s stock worth $137,414,000 after purchasing an additional 308,279 shares during the last quarter. TD Asset Management Inc. raised its position in shares of Marriott International by 5.9% during the 3rd quarter. TD Asset Management Inc. now owns 455,594 shares of the company’s stock worth $50,234,000 after purchasing an additional 25,504 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Marriott International by 16.5% during the 3rd quarter. Nordea Investment Management AB now owns 155,603 shares of the company’s stock worth $17,157,000 after purchasing an additional 22,085 shares during the last quarter. 65.69% of the stock is currently owned by institutional investors and hedge funds.
MAR has been the subject of several research reports. Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $158.00 price objective for the company in a research report on Friday, January 19th. Morgan Stanley restated a “buy” rating on shares of Marriott International in a research report on Friday, December 8th. ValuEngine upgraded Marriott International from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Barclays boosted their price target on Marriott International from $105.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, November 28th. Finally, Deutsche Bank reiterated a “hold” rating and issued a $124.00 price target on shares of Marriott International in a report on Wednesday, December 6th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Marriott International presently has a consensus rating of “Buy” and a consensus target price of $124.41.
Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Wednesday, February 14th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.12. The business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.61 billion. Marriott International had a return on equity of 36.15% and a net margin of 5.99%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 EPS. equities research analysts anticipate that Marriott International Inc will post 5.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.99%. Marriott International’s payout ratio is 36.67%.
In other news, insider Craig S. Smith sold 14,422 shares of the company’s stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $140.80, for a total transaction of $2,030,617.60. Following the completion of the sale, the insider now directly owns 34,899 shares in the company, valued at approximately $4,913,779.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Deborah Marriott Harrison sold 80,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $140.94, for a total value of $11,275,200.00. Following the sale, the insider now owns 116,092 shares of the company’s stock, valued at $16,362,006.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,102 shares of company stock valued at $15,041,164. Insiders own 11.32% of the company’s stock.
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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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