American Research & Management Co. trimmed its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.6% during the first quarter, Holdings Channel.com reports. The firm owned 10,604 shares of the company’s stock after selling 287 shares during the period. American Research & Management Co.’s holdings in Marriott International were worth $1,571,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position in Marriott International by 115.6% in the 4th quarter. FMR LLC now owns 16,806,126 shares of the company’s stock worth $2,217,064,000 after purchasing an additional 9,012,524 shares during the last quarter. Norges Bank bought a new stake in shares of Marriott International during the fourth quarter worth $354,414,000. Eaton Vance Management lifted its stake in shares of Marriott International by 10.5% during the fourth quarter. Eaton Vance Management now owns 2,255,472 shares of the company’s stock valued at $297,542,000 after acquiring an additional 214,867 shares during the period. Morgan Stanley boosted its holdings in Marriott International by 1.0% in the fourth quarter. Morgan Stanley now owns 1,961,466 shares of the company’s stock valued at $258,757,000 after acquiring an additional 18,780 shares during the last quarter. Finally, First Pacific Advisors LP raised its holdings in Marriott International by 2.4% during the 4th quarter. First Pacific Advisors LP now owns 1,352,363 shares of the company’s stock worth $178,404,000 after purchasing an additional 31,527 shares during the last quarter. 57.71% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ MAR traded down $0.21 during trading on Thursday, hitting $148.60. The stock had a trading volume of 30,956 shares, compared to its average volume of 2,741,587. The company has a market capitalization of $48.21 billion, a PE ratio of 280.78 and a beta of 1.83. Marriott International, Inc. has a 12 month low of $71.52 and a 12 month high of $159.98. The company’s 50-day moving average price is $147.04 and its two-hundred day moving average price is $124.19. The company has a debt-to-equity ratio of 42.27, a quick ratio of 0.59 and a current ratio of 0.59.
In other Marriott International news, EVP David A. Rodriguez sold 10,000 shares of Marriott International stock in a transaction dated Wednesday, February 24th. The shares were sold at an average price of $157.16, for a total value of $1,571,600.00. Following the completion of the sale, the executive vice president now owns 13,889 shares in the company, valued at approximately $2,182,795.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Stephanie Linnartz sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $154.69, for a total value of $3,093,800.00. Following the completion of the sale, the president now owns 63,671 shares of the company’s stock, valued at $9,849,266.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,793 shares of company stock worth $10,818,947. Corporate insiders own 12.77% of the company’s stock.
A number of equities research analysts recently weighed in on MAR shares. Gordon Haskett boosted their price target on shares of Marriott International from $108.00 to $125.00 and gave the stock a “hold” rating in a research note on Tuesday, January 5th. Evercore ISI upgraded shares of Marriott International from an “in-line” rating to an “outperform” rating and upped their target price for the company from $150.00 to $158.00 in a research report on Monday, March 1st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Marriott International from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $150.00 in a research note on Tuesday, December 15th. Deutsche Bank Aktiengesellschaft increased their target price on Marriott International from $96.00 to $135.00 and gave the company a “hold” rating in a research note on Friday, February 19th. They noted that the move was a valuation call. Finally, Wells Fargo & Company boosted their target price on Marriott International from $147.00 to $154.00 and gave the stock an “overweight” rating in a research report on Monday, March 1st. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $125.32.
About Marriott International
Marriott International, Inc engages in the operation and franchise of hotel, residential, and timeshare properties. It operates through the following business segments: U.S. & Canada; Asia Pacific; and Europe, Middle East and Africa (“EMEA“). The company was founded by J. Wiliard Marriot and Alice Sheets Marriott in 1927 and is headquartered in Bethesda, MD.
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