US Bancorp DE lessened its holdings in Marriott International Inc (NASDAQ:MAR) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,356 shares of the company’s stock after selling 2,825 shares during the period. US Bancorp DE’s holdings in Marriott International were worth $9,956,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Advisory Services Network LLC lifted its position in shares of Marriott International by 1,490.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock worth $113,000 after purchasing an additional 1,058 shares during the last quarter. Grove Bank & Trust lifted its position in shares of Marriott International by 214.8% during the 3rd quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock worth $136,000 after purchasing an additional 840 shares during the last quarter. First Quadrant L P CA purchased a new stake in shares of Marriott International during the 3rd quarter worth $136,000. Carroll Financial Associates Inc. lifted its position in shares of Marriott International by 175.6% during the 3rd quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock worth $147,000 after purchasing an additional 843 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Marriott International by 66.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,481 shares of the company’s stock worth $163,000 after purchasing an additional 590 shares during the last quarter. 66.68% of the stock is owned by institutional investors.
In other news, insider Deborah Marriott Harrison sold 130,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $119.17, for a total transaction of $15,492,100.00. Following the transaction, the insider now directly owns 114,155 shares in the company, valued at $13,603,851.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig S. Smith sold 5,840 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $136.26, for a total transaction of $795,758.40. Following the transaction, the insider now owns 26,317 shares in the company, valued at $3,585,954.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,825 shares of company stock worth $27,378,820. 11.32% of the stock is currently owned by company insiders.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.22 billion. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. Marriott International’s quarterly revenue was up 43.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. equities research analysts anticipate that Marriott International Inc will post 4.24 EPS for the current year.
Marriott International declared that its Board of Directors has initiated a share repurchase program on Thursday, November 9th that permits the company to buyback 30,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
Several research firms have recently issued reports on MAR. Royal Bank of Canada lifted their price objective on shares of Marriott International to $159.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Zacks Investment Research raised shares of Marriott International from a “hold” rating to a “buy” rating and set a $158.00 price objective for the company in a research report on Friday, January 19th. Stifel Nicolaus reaffirmed a “hold” rating and set a $132.00 price objective on shares of Marriott International in a research report on Tuesday, January 9th. BidaskClub raised shares of Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 21st. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Marriott International in a research report on Friday, December 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $117.21.
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Marriott International 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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