Jacobi Capital Management LLC decreased its holdings in Marriott International (NASDAQ:MAR) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,124 shares of the company’s stock after selling 99 shares during the period. Jacobi Capital Management LLC’s holdings in Marriott International were worth $617,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Regal Wealth Group Inc. increased its stake in Marriott International by 0.3% in the second quarter. Regal Wealth Group Inc. now owns 1,637 shares of the company’s stock worth $164,000 after purchasing an additional 5 shares during the period. Gradient Investments LLC increased its stake in Marriott International by 0.3% in the second quarter. Gradient Investments LLC now owns 2,011 shares of the company’s stock worth $202,000 after purchasing an additional 6 shares during the period. Family Firm Inc. increased its stake in Marriott International by 0.3% in the second quarter. Family Firm Inc. now owns 2,931 shares of the company’s stock worth $294,000 after purchasing an additional 8 shares during the period. Alexandria Capital LLC increased its stake in Marriott International by 0.7% in the second quarter. Alexandria Capital LLC now owns 1,644 shares of the company’s stock worth $165,000 after purchasing an additional 12 shares during the period. Finally, First Bank & Trust increased its stake in Marriott International by 1.2% in the second quarter. First Bank & Trust now owns 1,701 shares of the company’s stock worth $171,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 65.88% of the company’s stock.
Shares of Marriott International (NASDAQ:MAR) opened at 107.88 on Friday. The firm has a 50-day moving average price of $102.54 and a 200 day moving average price of $99.47. The firm has a market cap of $40.18 billion, a P/E ratio of 35.41 and a beta of 1.36. Marriott International has a one year low of $65.91 and a one year high of $110.51.
Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Monday, August 7th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The business’s revenue for the quarter was up 48.5% on a year-over-year basis. On average, analysts forecast that Marriott International will post $4.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 24th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.22%. Marriott International’s payout ratio is currently 45.52%.
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In related news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 owns 493,896 shares in the company, valued at approximately $49,310,576.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Argiris Kyriakidis sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $107.84, for a total value of $323,520.00. Following the transaction, the insider now owns 16,079 shares in the company, valued at approximately $1,733,959.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,927 shares of company stock worth $11,316,268. Company insiders own 11.32% of the company’s stock.
MAR has been the topic of several research reports. BidaskClub lowered Marriott International from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Wednesday, May 31st. Berenberg Bank restated a “buy” rating and set a $125.00 price target on shares of Marriott International in a research note on Friday, August 18th. Stifel Nicolaus raised their price target on Marriott International from $95.00 to $98.00 and gave the company a “hold” rating in a research note on Tuesday, August 8th. Finally, Robert W. Baird restated a “hold” rating and set a $103.00 price target on shares of Marriott International in a research note on Sunday, September 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Marriott International presently has an average rating of “Buy” and an average target price of $100.81.
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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