Dai Ichi Life Insurance Company Ltd grew its position in Marriott International (NASDAQ:MAR) by 99.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,094 shares of the company’s stock after acquiring an additional 18,471 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Marriott International were worth $3,721,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in MAR. Columbia Asset Management raised its holdings in shares of Marriott International by 1.0% in the 2nd quarter. Columbia Asset Management now owns 7,325 shares of the company’s stock worth $734,000 after buying an additional 75 shares in the last quarter. HPM Partners LLC raised its holdings in shares of Marriott International by 127.0% in the 2nd quarter. HPM Partners LLC now owns 15,104 shares of the company’s stock worth $391,000 after buying an additional 8,450 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Marriott International by 28.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,259,396 shares of the company’s stock worth $126,329,000 after buying an additional 275,382 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Marriott International in the 2nd quarter worth approximately $520,000. Finally, Franklin Resources Inc. raised its holdings in shares of Marriott International by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 674,864 shares of the company’s stock worth $67,696,000 after buying an additional 1,785 shares in the last quarter. Institutional investors own 65.93% of the company’s stock.
Shares of Marriott International (NASDAQ:MAR) opened at 104.63 on Tuesday. Marriott International has a 1-year low of $65.91 and a 1-year high of $110.51. The firm has a market capitalization of $38.97 billion, a PE ratio of 34.34 and a beta of 1.36. The stock has a 50 day moving average price of $102.00 and a 200 day moving average price of $98.61.
Marriott International (NASDAQ:MAR) last released its earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.11. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The company’s quarterly revenue was up 48.5% on a year-over-year basis. Equities research analysts anticipate that Marriott International will post $4.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 24th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $1.32 annualized dividend and a dividend yield of 1.26%. Marriott International’s dividend payout ratio (DPR) is presently 45.52%.
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In other news, EVP Anthony Capuano sold 5,000 shares of the company’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $100.72, for a total transaction of $503,600.00. Following the completion of the transaction, the executive vice president now directly owns 56,405 shares in the company, valued at $5,681,111.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edward A. Ryan sold 3,300 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $104.65, for a total transaction of $345,345.00. Following the transaction, the executive vice president now owns 84,859 shares of the company’s stock, valued at $8,880,494.35. The disclosure for this sale can be found here. Insiders have sold 97,491 shares of company stock valued at $9,857,627 over the last quarter. Company insiders own 11.32% of the company’s stock.
A number of equities analysts have recently issued reports on MAR shares. Zacks Investment Research raised Marriott International from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a report on Tuesday, May 16th. Wolfe Research raised Marriott International from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 30th. BidaskClub cut Marriott International from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Berenberg Bank reissued a “buy” rating and issued a $125.00 target price on shares of Marriott International in a report on Friday, August 18th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $109.00 target price (up from $92.00) on shares of Marriott International in a report on Monday, June 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $100.81.
Marriott International Company Profile
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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