Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings in Marriott International by 28.2% during the third quarter. Advisors Asset Management Inc. now owns 20,131 shares of the company’s stock valued at $2,821,000 after buying an additional 4,427 shares during the last quarter. Calamos Wealth Management LLC purchased a new stake in shares of Marriott International in the third quarter worth $874,000. Alta Advisers Ltd purchased a new stake in shares of Marriott International in the third quarter worth $112,000. ExodusPoint Capital Management LP increased its stake in shares of Marriott International by 138.4% in the second quarter. ExodusPoint Capital Management LP now owns 61,975 shares of the company’s stock worth $8,429,000 after purchasing an additional 35,975 shares in the last quarter. Finally, WCG Wealth Advisors LLC purchased a new stake in shares of Marriott International in the second quarter worth $333,000. 58.97% of the stock is owned by hedge funds and other institutional investors.
Marriott International Price Performance
MAR stock opened at $181.27 on Wednesday. The company has a fifty day simple moving average of $161.19 and a two-hundred day simple moving average of $157.18. The firm has a market capitalization of $57.38 billion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 0.61 and a beta of 1.58. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 8.33. Marriott International, Inc. has a 52 week low of $131.01 and a 52 week high of $195.90.
Marriott International (NASDAQ:MAR – Get Rating) last released its earnings results on Tuesday, February 14th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.38 billion. Marriott International had a net margin of 11.16% and a return on equity of 132.01%. The business’s revenue was up 33.2% on a year-over-year basis. During the same quarter last year, the business earned $1.30 EPS. Analysts anticipate that Marriott International, Inc. will post 6.58 earnings per share for the current fiscal year.
Marriott International declared that its Board of Directors has initiated a share repurchase program on Thursday, November 10th that permits the company to repurchase 25,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Marriott International Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, February 24th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, February 23rd. This is a positive change from Marriott International’s previous quarterly dividend of $0.30. Marriott International’s dividend payout ratio (DPR) is 24.39%.
Insider Transactions at Marriott International
In related news, Director Eric Hippeau sold 7,200 shares of Marriott International stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $160.24, for a total transaction of $1,153,728.00. Following the completion of the sale, the director now owns 7,261 shares in the company, valued at approximately $1,163,502.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.21% of the company’s stock.
Analyst Upgrades and Downgrades
MAR has been the subject of a number of analyst reports. Citigroup cut shares of Marriott International from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $170.00 to $175.00 in a research note on Wednesday, December 14th. Barclays raised their target price on shares of Marriott International from $170.00 to $173.00 and gave the company an “equal weight” rating in a research note on Friday, January 20th. StockNews.com cut shares of Marriott International from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. BMO Capital Markets cut their target price on shares of Marriott International from $165.00 to $160.00 and set a “market perform” rating for the company in a research note on Friday, November 4th. Finally, Wells Fargo & Company raised their target price on shares of Marriott International from $182.00 to $189.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $174.07.
Marriott International Company Profile
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Marriott International, Inc engages in the operation and franchise of hotel, residential, and timeshare properties. It operates through the following geography segments: U.S. & Canada, Asia Pacific, and Europe, Middle East and Africa (EMEA). The company was founded by J. Willard Marriott and Alice Sheets Marriott in 1927 and is headquartered in Bethesda, MD.
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