Marriott International Inc. (NASDAQ:MAR) major shareholder Richard E. Marriott sold 71,287 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 value of $5,000,070.18. Following the transaction, the insider now owns 12,223,365 shares in the company, valued at approximately $857,346,821.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Marriott International Inc. (NASDAQ:MAR) opened at 67.15 on Tuesday. The stock has a market cap of $17.08 billion, a price-to-earnings ratio of 20.01 and a beta of 1.25. Marriott International Inc. has a 52 week low of $56.43 and a 52 week high of $79.88. The firm has a 50-day moving average price of $70.98 and a 200-day moving average price of $69.05.
Marriott International (NASDAQ:MAR) last posted its earnings results on Wednesday, July 27th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The company earned $3.90 billion during the quarter, compared to the consensus estimate of $3.91 billion. Marriott International had a net margin of 5.87% and a negative return on equity of 25.25%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, equities analysts anticipate that Marriott International Inc. will post $3.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 23rd will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, September 21st. This represents a $1.20 dividend on an annualized basis and a yield of 1.79%. Marriott International’s dividend payout ratio is presently 35.71%.
A number of research analysts have weighed in on MAR shares. Vetr downgraded Marriott International from a “strong-buy” rating to a “buy” rating and set a $73.94 target price on the stock. in a report on Tuesday, May 31st. Zacks Investment Research downgraded Marriott International from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Evercore ISI raised Marriott International from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, June 30th. Wolfe Research initiated coverage on Marriott International in a research report on Wednesday, July 6th. They issued a “market perform” rating on the stock. Finally, Morgan Stanley dropped their price target on Marriott International from $74.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $78.09.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its position in shares of Marriott International by 0.7% in the first quarter. Legal & General Group Plc now owns 860,879 shares of the company’s stock worth $61,278,000 after buying an additional 5,724 shares during the period. Geode Capital Management LLC increased its position in shares of Marriott International by 0.7% in the first quarter. Geode Capital Management LLC now owns 1,619,707 shares of the company’s stock worth $115,066,000 after buying an additional 10,997 shares during the period. State Treasurer State of Michigan increased its position in shares of Marriott International by 1.2% in the second quarter. State Treasurer State of Michigan now owns 66,219 shares of the company’s stock worth $4,401,000 after buying an additional 800 shares during the period. Windward Capital Management Co. CA increased its position in shares of Marriott International by 0.8% in the second quarter. Windward Capital Management Co. CA now owns 143,563 shares of the company’s stock worth $9,541,000 after buying an additional 1,154 shares during the period. Finally, World Asset Management Inc increased its position in shares of Marriott International by 2.7% in the second quarter. World Asset Management Inc now owns 18,659 shares of the company’s stock worth $1,240,000 after buying an additional 489 shares during the period. Institutional investors own 73.73% 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 also develops, operates and markets residential properties, and provides services to home or condominium owner associations.
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