Todays Report: The Fenimore Asset Management Inc. Invests $26,420,000 in Marriott International Inc. (MAR)

The Fenimore Asset Management Inc. Invests $26,420,000 in Marriott International Inc. (MAR)

Fenimore Asset Management Inc. bought a new position in Marriott International Inc. (NASDAQ:MAR) during the third quarter, according to its most recent filing with the SEC. The firm bought 392,392 shares of the company’s stock, valued at approximately $26,420,000.

A number of other hedge funds have also added to or reduced their stakes in the company. North Star Investment Management Corp. raised its stake in Marriott International by 29.6% in the second quarter. North Star Investment Management Corp. now owns 1,533 shares of the company’s stock worth $102,000 after buying an additional 350 shares in the last quarter. Smithfield Trust Co. boosted its position in shares of Marriott International by 54.3% in the second quarter. Smithfield Trust Co. now owns 1,875 shares of the company’s stock worth $125,000 after buying an additional 660 shares in the last quarter. Gradient Investments LLC boosted its position in shares of Marriott International by 0.4% in the second quarter. Gradient Investments LLC now owns 1,958 shares of the company’s stock worth $130,000 after buying an additional 8 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Marriott International during the first quarter worth $142,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of Marriott International by 12.6% in the second quarter. Parkside Financial Bank & Trust now owns 2,309 shares of the company’s stock worth $154,000 after buying an additional 259 shares in the last quarter. 73.74% of the stock is owned by hedge funds and other institutional investors.

Marriott International Inc. (NASDAQ:MAR) opened at 66.91 on Thursday. The company has a 50-day moving average of $69.11 and a 200-day moving average of $68.77. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of 19.94 and a beta of 1.28. Marriott International Inc. has a 52 week low of $56.43 and a 52 week high of $79.88.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. Marriott International had a net margin of 5.87% and a negative return on equity of 25.25%. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Marriott International Inc. will post $3.63 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 23rd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Wednesday, September 21st. Marriott International’s dividend payout ratio (DPR) is 35.71%.

A number of equities analysts have recently weighed in on MAR shares. Telsey Advisory Group reduced their price target on shares of Marriott International from $74.00 to $70.00 and set a “market perform” rating on the stock in a research report on Friday, September 23rd. Barclays PLC set a $80.00 price target on shares of Marriott International and gave the stock a “hold” rating in a research report on Friday, September 23rd. Vetr raised shares of Marriott International from a “buy” rating to a “strong-buy” rating and set a $75.10 price target on the stock in a research report on Monday, June 27th. Sanford C. Bernstein assumed coverage on shares of Marriott International in a research report on Thursday, September 8th. They set an “outperform” rating and a $87.00 price target on the stock. Finally, Credit Agricole SA raised shares of Marriott International from an “underperform” rating to an “outperform” rating in a research report on Monday, August 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $78.09.

In related news, major shareholder Richard E. Marriott sold 71,287 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 12,223,365 shares of the company’s stock, valued at $857,346,821.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider J W. Marriott, Jr. sold 28,515 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $70.14, for a total transaction of $2,000,042.10. Following the transaction, the insider now directly owns 240,024 shares in the company, valued at $16,835,283.36. The disclosure for this sale can be found here. 17.07% of the stock is currently owned by company insiders.

About Marriott International

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.

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