Colonial River Wealth Management LLC acquired a new position in Marriott International, Inc. (NASDAQ:MAR – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,400 shares of the company’s stock, valued at approximately $208,000.
Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in Marriott International by 28.2% in the third quarter. Advisors Asset Management Inc. now owns 20,131 shares of the company’s stock valued at $2,821,000 after purchasing an additional 4,427 shares during the period. Metis Global Partners LLC grew its stake in Marriott International by 37.5% during the 4th quarter. Metis Global Partners LLC now owns 5,627 shares of the company’s stock worth $838,000 after purchasing an additional 1,535 shares in the last quarter. Verity & Verity LLC acquired a new position in Marriott International during the 4th quarter worth $417,000. Orion Portfolio Solutions LLC boosted its position in shares of Marriott International by 1.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 5,597 shares of the company’s stock worth $833,000 after acquiring an additional 67 shares in the last quarter. Finally, KMG Fiduciary Partners LLC boosted its position in shares of Marriott International by 4.7% during the 4th quarter. KMG Fiduciary Partners LLC now owns 27,980 shares of the company’s stock worth $4,166,000 after acquiring an additional 1,248 shares in the last quarter. 58.97% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Marriott International news, EVP Drew Pinto sold 700 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $176.75, for a total transaction of $123,725.00. Following the transaction, the executive vice president now directly owns 4,734 shares of the company’s stock, valued at $836,734.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Marriott International news, EVP Benjamin T. Breland sold 625 shares of the company’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $163.06, for a total transaction of $101,912.50. Following the completion of the sale, the executive vice president now directly owns 9,079 shares in the company, valued at $1,480,421.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Drew Pinto sold 700 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $176.75, for a total transaction of $123,725.00. Following the sale, the executive vice president now owns 4,734 shares of the company’s stock, valued at $836,734.50. The disclosure for this sale can be found here. Insiders have sold 23,484 shares of company stock valued at $4,131,974 over the last three months. 12.32% of the stock is currently owned by insiders.
Marriott International Price Performance
Marriott International (NASDAQ:MAR – Get Rating) last released its earnings results on Tuesday, May 2nd. The company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. Marriott International had a return on equity of 272.54% and a net margin of 12.34%. The firm had revenue of $5.62 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, equities analysts anticipate that Marriott International, Inc. will post 8.39 EPS for the current fiscal year.
Marriott International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, May 26th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.20%. This is an increase from Marriott International’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 25th. Marriott International’s dividend payout ratio is presently 18.71%.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. TheStreet downgraded Marriott International from a “b” rating to a “c+” rating in a report on Monday, May 8th. Morgan Stanley increased their target price on Marriott International from $195.00 to $197.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. Wells Fargo & Company cut their target price on Marriott International from $190.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, March 30th. TD Cowen increased their target price on Marriott International from $170.00 to $172.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 28th. Finally, BMO Capital Markets increased their target price on Marriott International from $163.00 to $183.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Marriott International has an average rating of “Hold” and a consensus price target of $184.00.
About Marriott International
Marriott International, Inc engages in the operation and franchise of hotel, residential, and timeshare properties. It operates through the following geography segments: U.S. & Canada, Asia Pacific, and Europe, Middle East and Africa (EMEA). The company was founded by J. Willard Marriott and Alice Sheets Marriott in 1927 and is headquartered in Bethesda, MD.
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