Arrow Financial Corp cut its stake in Marriott International Inc (NASDAQ:MAR) by 33.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,561 shares of the company’s stock after selling 3,259 shares during the quarter. Arrow Financial Corp’s holdings in Marriott International were worth $817,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in MAR. Nuveen Asset Management LLC lifted its holdings in Marriott International by 14,728.1% in the second quarter. Nuveen Asset Management LLC now owns 1,128,865 shares of the company’s stock valued at $158,369,000 after acquiring an additional 1,121,252 shares during the period. Vanguard Group Inc. raised its stake in shares of Marriott International by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,967,637 shares of the company’s stock worth $2,941,550,000 after buying an additional 1,000,762 shares during the period. USS Investment Management Ltd acquired a new position in shares of Marriott International during the 2nd quarter worth approximately $135,135,000. Point72 Asset Management L.P. acquired a new position in shares of Marriott International during the 2nd quarter worth approximately $62,173,000. Finally, Northern Trust Corp raised its stake in shares of Marriott International by 8.1% during the 2nd quarter. Northern Trust Corp now owns 3,246,154 shares of the company’s stock worth $455,403,000 after buying an additional 243,203 shares during the period. 63.22% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Marriott International from $146.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. reduced their target price on Marriott International from $134.00 to $128.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Wells Fargo & Co reduced their target price on Marriott International from $135.00 to $130.00 and set a “market perform” rating for the company in a research note on Friday, October 18th. Deutsche Bank reaffirmed a “hold” rating and set a $123.00 target price on shares of Marriott International in a research note on Wednesday, August 7th. Finally, ValuEngine downgraded Marriott International from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $132.87.
Shares of MAR traded up $0.42 during trading hours on Monday, hitting $126.60. 1,017,114 shares of the stock were exchanged, compared to its average volume of 1,788,488. The company has a debt-to-equity ratio of 8.93, a quick ratio of 0.51 and a current ratio of 0.51. Marriott International Inc has a 12-month low of $100.62 and a 12-month high of $144.24. The company has a market cap of $40.94 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 3.12 and a beta of 1.28. The stock’s 50-day moving average price is $124.47 and its two-hundred day moving average price is $131.32.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.56 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.56. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Marriott International had a return on equity of 113.75% and a net margin of 6.81%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 earnings per share. On average, research analysts expect that Marriott International Inc will post 6.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, August 22nd were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.52%. The ex-dividend date was Wednesday, August 21st. Marriott International’s payout ratio is currently 30.92%.
In other news, insider Craig S. Smith sold 14,915 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $128.20, for a total transaction of $1,912,103.00. Following the completion of the transaction, the insider now directly owns 18,062 shares in the company, valued at approximately $2,315,548.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce W. Duncan sold 3,376 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $132.16, for a total value of $446,172.16. Following the transaction, the director now owns 14,600 shares of the company’s stock, valued at $1,929,536. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,157 shares of company stock valued at $3,008,421. 12.60% of the stock is owned by company insiders.
About Marriott International
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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