State Street Corp reduced its position in Marriott International, Inc. (NASDAQ:MAR) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,357,365 shares of the company’s stock after selling 107,060 shares during the period. State Street Corp owned approximately 3.50% of Marriott International worth $1,051,465,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SOL Capital Management CO lifted its holdings in shares of Marriott International by 2.4% in the 3rd quarter. SOL Capital Management CO now owns 4,200 shares of the company’s stock worth $389,000 after purchasing an additional 100 shares in the last quarter. World Asset Management Inc grew its holdings in Marriott International by 1.5% during the 3rd quarter. World Asset Management Inc now owns 7,868 shares of the company’s stock valued at $728,000 after buying an additional 116 shares in the last quarter. Sargent Investment Group LLC grew its holdings in Marriott International by 2.6% during the 2nd quarter. Sargent Investment Group LLC now owns 5,128 shares of the company’s stock valued at $444,000 after buying an additional 128 shares in the last quarter. Patten Group Inc. boosted its position in shares of Marriott International by 1.3% during the 3rd quarter. Patten Group Inc. now owns 10,428 shares of the company’s stock valued at $965,000 after acquiring an additional 135 shares during the last quarter. Finally, Regentatlantic Capital LLC boosted its position in shares of Marriott International by 2.2% during the 3rd quarter. Regentatlantic Capital LLC now owns 6,449 shares of the company’s stock valued at $597,000 after acquiring an additional 139 shares during the last quarter. Institutional investors own 58.28% of the company’s stock.
MAR opened at $119.28 on Friday. Marriott International, Inc. has a 52-week low of $46.56 and a 52-week high of $153.39. The stock has a market capitalization of $38.69 billion, a PE ratio of 86.44 and a beta of 1.68. The stock’s 50 day moving average price is $102.33 and its 200-day moving average price is $95.21.
Marriott International (NASDAQ:MAR) last posted its earnings results on Friday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.14. Marriott International had a return on equity of 238.84% and a net margin of 2.76%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the firm earned $1.47 earnings per share. The business’s revenue was down 57.3% compared to the same quarter last year. As a group, analysts forecast that Marriott International, Inc. will post -0.25 earnings per share for the current fiscal year.
A number of analysts recently weighed in on the company. Argus upgraded Marriott International from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Thursday. Citigroup boosted their target price on Marriott International from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, September 21st. Deutsche Bank Aktiengesellschaft boosted their target price on Marriott International from $90.00 to $96.00 and gave the stock a “hold” rating in a research report on Monday, November 9th. They noted that the move was a valuation call. Barclays boosted their target price on Marriott International from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Finally, Bank of America boosted their target price on Marriott International from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $115.50.
Marriott International 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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