Cubist Systematic Strategies LLC boosted its position in Marriott International (NASDAQ:MAR) by 496.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,656 shares of the company’s stock after purchasing an additional 27,184 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Marriott International were worth $3,276,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of MAR. Victory Capital Management Inc. increased its stake in Marriott International by 24.2% during the 1st quarter. Victory Capital Management Inc. now owns 22,432 shares of the company’s stock valued at $2,113,000 after buying an additional 4,367 shares during the period. Tredje AP fonden increased its stake in Marriott International by 27.1% during the 1st quarter. Tredje AP fonden now owns 42,508 shares of the company’s stock valued at $4,016,000 after buying an additional 9,056 shares during the period. Westpac Banking Corp increased its stake in Marriott International by 21.3% during the 1st quarter. Westpac Banking Corp now owns 84,826 shares of the company’s stock valued at $6,038,000 after buying an additional 14,872 shares during the period. Tiemann Investment Advisors LLC acquired a new position in shares of Marriott International in the 1st quarter worth approximately $245,000. Finally, ARGI Investment Services LLC acquired a new position in shares of Marriott International in the 1st quarter worth approximately $209,000. Hedge funds and other institutional investors own 65.85% of the company’s stock.
Several brokerages have recently issued reports on MAR. Robert W. Baird set a $103.00 price objective on shares of Marriott International and gave the stock a “hold” rating in a research note on Tuesday. Stifel Nicolaus reissued a “hold” rating and issued a $98.00 target price on shares of Marriott International in a research report on Thursday, October 12th. BidaskClub raised shares of Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 12th. Wolfe Research raised shares of Marriott International from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 30th. Finally, Berenberg Bank restated a “buy” rating and set a $125.00 price target on shares of Marriott International in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $99.68.
In other news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $99.84, for a total transaction of $2,995,200.00. Following the transaction, the insider now directly owns 493,896 shares in the company, valued at approximately $49,310,576.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Juliana B. Marriott sold 8,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $100.51, for a total value of $844,284.00. Following the transaction, the insider now owns 18,000 shares in the company, valued at $1,809,180. The disclosure for this sale can be found here. Insiders sold a total of 110,727 shares of company stock worth $11,339,600 over the last 90 days. Corporate insiders own 11.32% of the company’s stock.
Shares of Marriott International (MAR) traded down 0.22% during midday trading on Tuesday, hitting $114.50. 139,675 shares of the stock traded hands. Marriott International has a 1-year low of $65.91 and a 1-year high of $115.31. The stock has a 50 day moving average of $107.45 and a 200 day moving average of $102.24. The company has a market capitalization of $42.64 billion, a P/E ratio of 37.58 and a beta of 1.36.
Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.73 billion. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The company’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. Equities research analysts predict that Marriott International will post $4.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, August 24th were paid a $0.33 dividend. The ex-dividend date was Tuesday, August 22nd. This represents a $1.32 dividend on an annualized basis and a yield of 1.15%. Marriott International’s dividend payout ratio is currently 45.52%.
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About Marriott International
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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