Wealth Enhancement Advisory Services LLC increased its stake in shares of Marriott International Inc. (NASDAQ:MAR) by 15.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 18,135 shares of the company’s stock after buying an additional 2,382 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Marriott International were worth $1,205,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. Gradient Investments LLC boosted its stake in Marriott International by 0.4% in the second quarter. Gradient Investments LLC now owns 1,958 shares of the company’s stock worth $130,000 after buying an additional 8 shares during the last quarter. Bessemer Group Inc. boosted its stake in Marriott International by 0.7% in the first quarter. Bessemer Group Inc. now owns 4,833 shares of the company’s stock worth $344,000 after buying an additional 35 shares during the last quarter. Trust Co. of Virginia VA boosted its stake in Marriott International by 1.2% in the second quarter. Trust Co. of Virginia VA now owns 3,579 shares of the company’s stock worth $237,000 after buying an additional 41 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in Marriott International by 2.3% in the first quarter. Glenmede Trust Co. NA now owns 3,929 shares of the company’s stock worth $279,000 after buying an additional 87 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in Marriott International by 5.4% in the second quarter. Checchi Capital Advisers LLC now owns 2,864 shares of the company’s stock worth $190,000 after buying an additional 146 shares during the last quarter. Institutional investors and hedge funds own 73.74% of the company’s stock.
Marriott International Inc. (NASDAQ:MAR) traded up 0.12% during mid-day trading on Friday, reaching $67.35. The company had a trading volume of 1,149,900 shares. The firm has a 50-day moving average of $68.96 and a 200 day moving average of $68.76. Marriott International Inc. has a 1-year low of $56.43 and a 1-year high of $79.88. The company has a market capitalization of $17.13 billion, a PE ratio of 20.07 and a beta of 1.28.
Marriott International (NASDAQ:MAR) last posted its earnings results on Wednesday, July 27th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. Marriott International had a negative return on equity of 25.25% and a net margin of 5.87%. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. Marriott International’s revenue was up 5.8% on a year-over-year basis. On average, analysts predict that Marriott International Inc. will post $3.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 23rd were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Wednesday, September 21st. Marriott International’s dividend payout ratio is 35.71%.
Several equities research analysts recently weighed in on MAR shares. 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 raised Marriott International from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Vetr raised 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 raised Marriott International from an “underperform” rating to an “outperform” rating in a report on Monday, August 15th. Finally, Barclays PLC set a $80.00 price objective on Marriott International and gave the stock a “hold” rating in a report on Friday, September 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $78.09.
In other news, EVP Anthony Capuano sold 22,538 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $73.60, for a total value of $1,658,796.80. Following the transaction, the executive vice president now owns 76,184 shares of the company’s stock, valued at $5,607,142.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Richard E. Marriott sold 71,287 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 12,223,365 shares in the company, valued at approximately $857,346,821.10. The disclosure for this sale can be found here. 17.07% of the stock is owned by company insiders.
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.
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