Teacher Retirement System of Texas lessened its stake in Marriott International Inc (NASDAQ:MAR) by 93.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,386 shares of the company’s stock after selling 59,872 shares during the quarter. Teacher Retirement System of Texas’ holdings in Marriott International were worth $549,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Harvest Group Wealth Management LLC purchased a new stake in shares of Marriott International in the 1st quarter valued at $30,000. Toronto Dominion Bank boosted its stake in shares of Marriott International by 14.7% in the 1st quarter. Toronto Dominion Bank now owns 207,668 shares of the company’s stock valued at $25,970,000 after purchasing an additional 26,674 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Marriott International by 0.5% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 165,671 shares of the company’s stock valued at $20,724,000 after purchasing an additional 900 shares in the last quarter. Perella Weinberg Partners Capital Management LP purchased a new stake in shares of Marriott International in the 1st quarter valued at $3,258,000. Finally, Cetera Investment Advisers boosted its stake in shares of Marriott International by 19.4% in the 1st quarter. Cetera Investment Advisers now owns 3,178 shares of the company’s stock valued at $399,000 after purchasing an additional 517 shares in the last quarter. 67.36% of the stock is owned by institutional investors and hedge funds.
MAR has been the subject of a number of research reports. BidaskClub raised shares of Marriott International from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. SunTrust Banks upped their price target on shares of Marriott International to $137.00 and gave the company a “positive” rating in a report on Monday, March 4th. Barclays upped their price target on shares of Marriott International to $135.00 and gave the company an “equal weight” rating in a report on Tuesday, March 5th. They noted that the move was a valuation call. Berenberg Bank reiterated a “buy” rating and set a $140.00 price target on shares of Marriott International in a report on Tuesday, March 5th. Finally, Deutsche Bank reiterated a “hold” rating and set a $123.00 price target on shares of Marriott International in a report on Monday, March 4th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $136.23.
NASDAQ:MAR traded down $0.97 during midday trading on Wednesday, reaching $128.46. 16,421 shares of the stock traded hands, compared to its average volume of 1,918,298. Marriott International Inc has a 12 month low of $100.62 and a 12 month high of $142.19. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 6.81. The firm has a market capitalization of $43.59 billion, a P/E ratio of 20.73, a P/E/G ratio of 2.87 and a beta of 1.23.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Friday, May 10th. The company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.07. Marriott International had a net margin of 8.62% and a return on equity of 97.68%. The business had revenue of $5.01 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same period in the prior year, the business earned $1.34 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts anticipate that Marriott International Inc will post 6.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 24th will be issued a $0.48 dividend. The ex-dividend date is Thursday, May 23rd. This is a positive change from Marriott International’s previous quarterly dividend of $0.41. This represents a $1.92 annualized dividend and a yield of 1.49%. Marriott International’s dividend payout ratio is 26.41%.
In other Marriott International news, insider Craig S. Smith sold 16,743 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $120.35, for a total value of $2,015,020.05. Following the completion of the transaction, the insider now directly owns 7,754 shares in the company, valued at approximately $933,193.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arne M. Sorenson sold 63,726 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $124.15, for a total transaction of $7,911,582.90. Following the completion of the sale, the chief executive officer now directly owns 750,500 shares in the company, valued at $93,174,575. The disclosure for this sale can be found here. Insiders sold a total of 156,940 shares of company stock valued at $19,527,465 over the last 90 days. Company insiders own 12.60% of the company’s stock.
Marriott International Company Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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