Candriam Luxembourg S.C.A. decreased its stake in Marriott International Inc. (NASDAQ:MAR) by 56.0% during the second quarter, Holdings Channel reports. The fund owned 22,350 shares of the company’s stock after selling 28,393 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Marriott International were worth $1,485,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. North Star Investment Management Corp. increased its position in shares of Marriott International by 29.6% in the second quarter. North Star Investment Management Corp. now owns 1,533 shares of the company’s stock valued at $102,000 after buying an additional 350 shares during the period. Monetary Management Group Inc. bought a new position in shares of Marriott International during the first quarter valued at about $126,000. Gradient Investments LLC increased its position in shares of Marriott International by 0.4% in the second quarter. Gradient Investments LLC now owns 1,958 shares of the company’s stock valued at $130,000 after buying an additional 8 shares during the period. Acrospire Investment Management LLC bought a new position in shares of Marriott International during the first quarter valued at about $142,000. Finally, Mercer Capital Advisers Inc. increased its position in shares of Marriott International by 250.0% in the second quarter. Mercer Capital Advisers Inc. now owns 2,800 shares of the company’s stock valued at $186,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.
Shares of Marriott International Inc. (NASDAQ:MAR) traded down 0.50% during midday trading on Tuesday, hitting $67.11. 2,749,182 shares of the stock traded hands. The firm has a market capitalization of $17.07 billion, a PE ratio of 20.00 and a beta of 1.28. Marriott International Inc. has a 52 week low of $56.43 and a 52 week high of $79.88. The company’s 50-day moving average is $70.13 and its 200 day moving average is $68.88.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. Marriott International had a net margin of 5.87% and a negative return on equity of 25.25%. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Marriott International’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts anticipate that Marriott International Inc. will post $3.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 23rd were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.79%. The ex-dividend date was Wednesday, September 21st. Marriott International’s payout ratio is currently 35.71%.
A number of analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Marriott International from $74.00 to $73.00 and set an “equal weight” rating for the company in a report on Thursday, July 28th. Zacks Investment Research upgraded Marriott International from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Vetr upgraded Marriott International from a “buy” rating to a “strong-buy” rating and set a $75.10 price objective for the company in a report on Monday, June 27th. Credit Agricole SA upgraded Marriott International from an “underperform” rating to an “outperform” rating in a report on Monday, August 15th. Finally, Goldman Sachs Group Inc. assumed coverage on Marriott International in a report on Monday, September 26th. They issued a “buy” rating and a $81.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $78.09.
In other news, major shareholder Richard E. Marriott sold 71,287 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $70.14, for a total value of $5,000,070.18. Following the transaction, the insider now owns 12,223,365 shares in the company, valued at $857,346,821.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider J W. Marriott, Jr. sold 28,515 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $70.14, for a total transaction of $2,000,042.10. Following the completion of the transaction, the insider now owns 240,024 shares in the company, valued at approximately $16,835,283.36. The disclosure for this sale can be found here. Corporate insiders own 17.07% of the company’s stock.
About Marriott International
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It operates through three segments: North American Full-Service, which includes brands, such as The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Marriott Hotels, Delta Hotels and Resorts, and Renaissance Hotels located in the United States and Canada; North American Limited-Service, which includes brands, such as AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites properties and Fairfield Inn & Suites located in the United States and Canada, and International, which includes brands, such as Bulgari Hotels & Resorts, Protea Hotels and Moxy Hotels located outside the United States and Canada.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marriott International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.