Cordasco Financial Network held its stake in Marriott International (NASDAQ:MAR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000 shares of the company’s stock at the end of the second quarter. Cordasco Financial Network’s holdings in Marriott International were worth $100,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in MAR. Oppenheimer Asset Management Inc. purchased a new position in shares of Marriott International during the first quarter worth $115,000. Israel Discount Bank of New York GFN purchased a new position in shares of Marriott International during the fourth quarter worth $116,000. High Point Bank & Trust Co. boosted its position in shares of Marriott International by 11.5% in the fourth quarter. High Point Bank & Trust Co. now owns 1,450 shares of the company’s stock worth $120,000 after buying an additional 149 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in shares of Marriott International by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,562 shares of the company’s stock worth $147,000 after buying an additional 736 shares in the last quarter. Finally, First Bank & Trust boosted its position in shares of Marriott International by 3.6% in the first quarter. First Bank & Trust now owns 1,681 shares of the company’s stock worth $158,000 after buying an additional 59 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Marriott International (NASDAQ MAR) traded up 0.42% on Monday, reaching $100.77. The company’s stock had a trading volume of 948,870 shares. The firm has a 50-day moving average price of $104.49 and a 200 day moving average price of $92.52. Marriott International has a one year low of $65.91 and a one year high of $110.51. The firm has a market capitalization of $38.18 billion, a PE ratio of 35.70 and a beta of 1.35.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Monday, May 8th. The company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.11. The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Marriott International had a return on equity of 38.10% and a net margin of 4.91%. The business’s quarterly revenue was up 47.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. On average, analysts anticipate that Marriott International will post $4.04 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, May 19th were given a $0.33 dividend. This is a boost from Marriott International’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, May 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.32%. Marriott International’s dividend payout ratio (DPR) is presently 47.48%.
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A number of brokerages have commented on MAR. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $111.00 price target on shares of Marriott International in a research note on Friday, May 12th. Goldman Sachs Group, Inc. (The) cut Marriott International from a “conviction-buy” rating to a “buy” rating and set a $105.00 price target on the stock. in a research note on Tuesday, April 11th. Barclays PLC reaffirmed a “hold” rating and issued a $105.00 price target on shares of Marriott International in a research note on Friday, May 12th. Evercore ISI lifted their price objective on Marriott International from $86.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, March 23rd. Finally, Stifel Nicolaus lifted their price objective on Marriott International from $84.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $97.97.
In related news, insider David A. Rodriguez sold 10,101 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $101.30, for a total value of $1,023,231.30. Following the completion of the transaction, the insider now owns 21,224 shares in the company, valued at approximately $2,149,991.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David S. Marriott sold 19,500 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $103.26, for a total value of $2,013,570.00. Following the completion of the transaction, the insider now owns 638,636 shares of the company’s stock, valued at approximately $65,945,553.36. The disclosure for this sale can be found here. Insiders sold a total of 55,117 shares of company stock valued at $5,685,295 in the last three months. Insiders own 17.07% of the company’s stock.
Marriott International Company Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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