Alta Capital Management LLC reduced its position in Marriott International (NASDAQ:MAR) by 14.4% during the second quarter, Holdings Channel reports. The firm owned 3,298 shares of the company’s stock after selling 555 shares during the period. Alta Capital Management LLC’s holdings in Marriott International were worth $330,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new position in Marriott International during the first quarter valued at approximately $115,000. Israel Discount Bank of New York GFN acquired a new position in Marriott International during the fourth quarter valued at approximately $116,000. High Point Bank & Trust Co. raised its position in Marriott International by 11.5% in the fourth quarter. High Point Bank & Trust Co. now owns 1,450 shares of the company’s stock valued at $120,000 after buying an additional 149 shares during the last quarter. TrimTabs Asset Management LLC raised its position in Marriott International by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,562 shares of the company’s stock valued at $147,000 after buying an additional 736 shares during the last quarter. Finally, First Bank & Trust raised its position in Marriott International by 3.6% in the first quarter. First Bank & Trust now owns 1,681 shares of the company’s stock valued at $158,000 after buying an additional 59 shares during the last quarter. 68.34% of the stock is owned by institutional investors.
Shares of Marriott International (NASDAQ:MAR) traded up 0.36% during midday trading on Monday, hitting $100.71. The stock had a trading volume of 1,523,908 shares. The firm has a 50-day moving average price of $104.49 and a 200-day moving average price of $92.52. The firm has a market cap of $38.16 billion, a price-to-earnings ratio of 35.67 and a beta of 1.35. Marriott International has a 1-year low of $65.91 and a 1-year high of $110.51.
Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, May 8th. The company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.11. Marriott International had a return on equity of 38.10% and a net margin of 4.91%. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the company earned $0.87 earnings per share. The business’s revenue was up 47.4% compared to the same quarter last year. On average, equities analysts anticipate that Marriott International will post $4.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, May 19th were issued a dividend of $0.33 per share. This is a positive change from Marriott International’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Wednesday, May 17th. Marriott International’s dividend payout ratio (DPR) is 47.48%.
Several equities analysts recently commented on MAR shares. Zacks Investment Research upgraded Marriott International from a “sell” rating to a “hold” rating in a research note on Wednesday, March 15th. J P Morgan Chase & Co upped their target price on Marriott International from $98.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, March 22nd. Stifel Nicolaus upped their target price on Marriott International from $84.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, March 22nd. Evercore ISI upped their target price on Marriott International from $86.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, March 23rd. Finally, Goldman Sachs Group, Inc. (The) upped their target price on Marriott International from $103.00 to $105.00 and gave the company a “conviction-buy” rating in a research note on Thursday, March 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Marriott International currently has an average rating of “Buy” and an average price target of $97.97.
In other news, insider Stephen Blake Marriott sold 3,733 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $107.44, for a total value of $401,073.52. Following the sale, the insider now directly owns 145,601 shares of the company’s stock, valued at $15,643,371.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George Munoz sold 5,894 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $103.95, for a total value of $612,681.30. Following the completion of the sale, the director now directly owns 7,659 shares in the company, valued at $796,153.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,117 shares of company stock worth $5,685,295. Corporate insiders own 17.07% of the company’s stock.
About Marriott International
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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