Envestnet Asset Management Inc. boosted its holdings in shares of Marriott International Inc (NASDAQ:MAR) by 19.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,890 shares of the company’s stock after purchasing an additional 13,250 shares during the period. Envestnet Asset Management Inc.’s holdings in Marriott International were worth $10,114,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in MAR. Sun Life Financial INC lifted its position in shares of Marriott International by 331.6% in the 2nd quarter. Sun Life Financial INC now owns 807 shares of the company’s stock valued at $102,000 after acquiring an additional 620 shares in the last quarter. Signaturefd LLC purchased a new stake in shares of Marriott International in the 1st quarter valued at approximately $133,000. Tortoise Investment Management LLC purchased a new stake in shares of Marriott International in the 2nd quarter valued at approximately $155,000. Quad Capital Management Advisors LLC purchased a new stake in shares of Marriott International in the 1st quarter valued at approximately $208,000. Finally, Newport Wealth Strategies Inc. purchased a new stake in shares of Marriott International in the 2nd quarter valued at approximately $213,000. 61.78% of the stock is owned by institutional investors and hedge funds.
In related news, Director Frederick A. Henderson bought 1,640 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was bought at an average price of $120.84 per share, for a total transaction of $198,177.60. Following the transaction, the director now directly owns 1,640 shares in the company, valued at $198,177.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider B. Marriott Marital Tr Juliana sold 3,206 shares of the stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $140.09, for a total transaction of $449,128.54. Following the completion of the sale, the insider now owns 457,996 shares of the company’s stock, valued at approximately $64,160,659.64. The disclosure for this sale can be found here. 12.99% of the stock is owned by corporate insiders.
Several equities research analysts recently commented on MAR shares. Raymond James upgraded shares of Marriott International from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 14th. Zacks Investment Research downgraded shares of Marriott International from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Jefferies Financial Group restated a “hold” rating and issued a $134.00 price target on shares of Marriott International in a research report on Wednesday, August 8th. Morgan Stanley downgraded shares of Marriott International from an “overweight” rating to an “equal” rating and set a $129.00 price target for the company. in a research report on Tuesday, July 24th. Finally, Evercore ISI upgraded shares of Marriott International from an “in-line” rating to an “outperform” rating and upped their price target for the company from $146.00 to $155.00 in a research report on Thursday, May 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $142.45.
MAR stock opened at $124.98 on Friday. Marriott International Inc has a 12-month low of $101.21 and a 12-month high of $149.21. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.48 and a quick ratio of 0.48. The company has a market capitalization of $43.88 billion, a price-to-earnings ratio of 28.67, a P/E/G ratio of 1.86 and a beta of 1.34.
Marriott International (NASDAQ:MAR) last released its earnings results on Monday, August 6th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.37. Marriott International had a net margin of 7.31% and a return on equity of 52.81%. The company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. research analysts expect that Marriott International Inc will post 5.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, August 23rd will be given a $0.41 dividend. The ex-dividend date is Wednesday, August 22nd. This represents a $1.64 dividend on an annualized basis and a yield of 1.31%. Marriott International’s payout ratio is 37.61%.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through three segments: North American Full-Service, North American Limited-Service, and Asia Pacific. It operates its properties under the JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St.
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