Bronfman E.L. Rothschild L.P. boosted its position in shares of Marriott International Inc. (NASDAQ:MAR) by 16.2% during the third quarter, Holdings Channel reports. The fund owned 6,232 shares of the company’s stock after buying an additional 869 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Marriott International were worth $420,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Vulcan Value Partners LLC bought a new position in Marriott International during the second quarter worth about $138,646,000. Capital World Investors bought a new position in Marriott International during the second quarter worth about $126,089,000. Westfield Capital Management Co. LP bought a new position in Marriott International during the second quarter worth about $108,533,000. Capital Research Global Investors increased its position in Marriott International by 39.4% in the second quarter. Capital Research Global Investors now owns 4,329,447 shares of the company’s stock worth $287,735,000 after buying an additional 1,224,450 shares during the period. Finally, HS Management Partners LLC bought a new position in Marriott International during the second quarter worth about $76,882,000. 80.98% of the stock is owned by institutional investors and hedge funds.
Shares of Marriott International Inc. (NASDAQ:MAR) opened at 78.07 on Friday. The stock has a market capitalization of $30.48 billion, a price-to-earnings ratio of 27.79 and a beta of 1.23. Marriott International Inc. has a 52-week low of $56.43 and a 52-week high of $78.18. The firm’s 50-day moving average is $70.65 and its 200 day moving average is $69.40.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.41 billion. Marriott International had a net margin of 4.82% and a negative return on equity of 76.10%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 EPS. Equities analysts expect that Marriott International Inc. will post $3.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, November 24th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 21st. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. Marriott International’s payout ratio is 42.25%.
A number of equities analysts have recently weighed in on the company. Deutsche Bank AG restated a “hold” rating and issued a $73.00 target price on shares of Marriott International in a research note on Friday, November 18th. Morgan Stanley restated an “overweight” rating and issued a $74.00 target price (down previously from $76.00) on shares of Marriott International in a research note on Tuesday, November 15th. Vetr downgraded Marriott International from a “buy” rating to a “hold” rating and set a $79.18 target price on the stock. in a research note on Tuesday, November 15th. Barclays PLC restated a “hold” rating and issued a $80.00 target price on shares of Marriott International in a research note on Thursday, November 10th. Finally, Zacks Investment Research downgraded Marriott International from a “hold” rating to a “sell” rating in a research note on Wednesday, October 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. Marriott International presently has an average rating of “Hold” and a consensus price target of $76.33.
In other news, major shareholder Richard E. Marriott sold 71,287 shares of the firm’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $70.14, for a total transaction of $5,000,070.18. Following the sale, the insider now directly owns 12,223,365 shares in the company, valued at approximately $857,346,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Rodriguez sold 1,582 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $77.53, for a total transaction of $122,652.46. Following the sale, the insider now owns 49,392 shares in the company, valued at $3,829,361.76. The disclosure for this sale can be found here. Insiders own 17.07% of the company’s stock.
Marriott International Company Profile
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It operates through three segments: North American Full-Service, which includes brands, such as The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Marriott Hotels, Delta Hotels and Resorts, and Renaissance Hotels located in the United States and Canada; North American Limited-Service, which includes brands, such as AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites properties and Fairfield Inn & Suites located in the United States and Canada, and International, which includes brands, such as Bulgari Hotels & Resorts, Protea Hotels and Moxy Hotels located outside the United States and Canada.