Sumitomo Mitsui Asset Management Company LTD lifted its holdings in shares of Marriott International Inc (NASDAQ:MAR) by 12.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,900 shares of the company’s stock after buying an additional 2,684 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Marriott International were worth $3,155,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Centaurus Financial Inc. bought a new position in Marriott International in the 2nd quarter worth about $102,000. Sun Life Financial INC lifted its stake 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 worth $102,000 after acquiring an additional 620 shares during the period. Fort L.P. acquired a new stake in shares of Marriott International in the 2nd quarter worth approximately $114,000. Tortoise Investment Management LLC acquired a new stake in shares of Marriott International in the 2nd quarter worth approximately $155,000. Finally, Newport Wealth Strategies Inc. acquired a new stake in shares of Marriott International in the 2nd quarter worth approximately $213,000. 61.84% of the stock is owned by institutional investors and hedge funds.
MAR stock opened at $112.04 on Friday. Marriott International Inc has a 12 month low of $112.01 and a 12 month high of $149.21. The company has a market cap of $40.00 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 1.70 and a beta of 1.33. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.95.
Marriott International (NASDAQ:MAR) last released its earnings results on Monday, August 6th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.36 by $0.37. Marriott International had a net margin of 7.31% and a return on equity of 52.81%. The business had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period in the prior year, the business earned $1.13 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts predict that Marriott International Inc will post 5.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Thursday, August 23rd were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Wednesday, August 22nd. Marriott International’s dividend payout ratio is presently 37.61%.
A number of brokerages have recently weighed in on MAR. Robert W. Baird set a $133.00 price target on shares of Marriott International and gave the stock a “hold” rating in a research note on Friday. ValuEngine lowered shares of Marriott International from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Zacks Investment Research raised shares of Marriott International from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Longbow Research began coverage on shares of Marriott International in a research note on Friday, September 7th. They issued a “buy” rating and a $156.00 price target for the company. Finally, BidaskClub lowered shares of Marriott International from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $144.58.
In other Marriott International news, Director Frederick A. Henderson bought 1,640 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was acquired at an average cost of $120.84 per share, with a total value of $198,177.60. Following the completion of the purchase, the director now directly owns 1,640 shares in the company, valued at $198,177.60. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 12.99% of the stock is owned by corporate insiders.
Marriott International Company Profile
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.
Featured Article: Diversification in Investing
Want to see what other hedge funds are holding MAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marriott International Inc (NASDAQ:MAR).
Receive News & Ratings for Marriott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marriott International and related companies with MarketBeat.com's FREE daily email newsletter.