OppenheimerFunds Inc. boosted its stake in shares of Marriott International Inc (NASDAQ:MAR) by 19.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,068 shares of the company’s stock after acquiring an additional 2,938 shares during the period. OppenheimerFunds Inc.’s holdings in Marriott International were worth $2,287,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Sun Life Financial INC increased its stake in shares of Marriott International by 331.6% in the 2nd quarter. Sun Life Financial INC now owns 807 shares of the company’s stock valued at $102,000 after purchasing an additional 620 shares during the last quarter. Tortoise Investment Management LLC bought a new position in shares of Marriott International in the 2nd quarter valued at $155,000. Quad Capital Management Advisors LLC bought a new position in shares of Marriott International in the 1st quarter valued at $208,000. Newport Wealth Strategies Inc. bought a new position in shares of Marriott International in the 2nd quarter valued at $213,000. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Marriott International in the 2nd quarter valued at $226,000. Hedge funds and other institutional investors own 61.74% of the company’s stock.
Several equities research analysts recently weighed in on the company. Morgan Stanley cut their price objective on Marriott International from $143.00 to $138.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 8th. BidaskClub downgraded Marriott International from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Longbow Research assumed coverage on Marriott International in a report on Friday, September 7th. They set a “buy” rating and a $156.00 price objective on the stock. SunTrust Banks reissued a “hold” rating and set a $136.00 price objective on shares of Marriott International in a report on Thursday, August 9th. Finally, Raymond James raised Marriott International from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 14th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $143.58.
In related news, Director Frederick A. Henderson bought 1,640 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were purchased at an average cost of $120.84 per share, with a total value of $198,177.60. Following the acquisition, the director now owns 1,640 shares of the company’s stock, valued at $198,177.60. The purchase was disclosed in a filing with the SEC, which is available through this link. 12.99% of the stock is currently owned by insiders.
NASDAQ MAR opened at $130.90 on Monday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.48 and a current ratio of 0.48. Marriott International Inc has a twelve month low of $107.00 and a twelve month high of $149.21. The firm has a market cap of $45.42 billion, a P/E ratio of 30.02, a PEG ratio of 1.92 and a beta of 1.34.
Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, August 6th. The company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.37. The firm had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.90 billion. Marriott International had a return on equity of 52.81% and a net margin of 7.31%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 EPS. analysts forecast that Marriott International Inc will post 5.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, August 23rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, August 22nd. Marriott International’s payout ratio is presently 37.61%.
Marriott International Company Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through three segments: North American Full-Service, North American Limited-Service, and Asia Pacific. It operates its properties under the JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St.
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