Todays Report: The BB&T Corp Reached $2,126,000 position of Marriott International Inc. (MAR)

The BB&T Corp Reached $2,126,000 position  of Marriott International Inc. (MAR)

BB&T Corp lowered its stake in shares of Marriott International Inc. (NASDAQ:MAR) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 31,990 shares of the company’s stock after selling 398 shares during the period. BB&T Corp’s holdings in Marriott International were worth $2,126,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MAR. Ladenburg Thalmann Financial Services Inc. increased its stake in Marriott International by 1.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,081 shares of the company’s stock valued at $1,438,000 after buying an additional 218 shares during the period. Seven Eight Capital LLC increased its position in Marriott International by 366.7% in the first quarter. Seven Eight Capital LLC now owns 15,400 shares of the company’s stock valued at $1,096,000 after buying an additional 12,100 shares during the period. Babson Capital Management LLC increased its position in Marriott International by 76.7% in the first quarter. Babson Capital Management LLC now owns 34,549 shares of the company’s stock valued at $2,459,000 after buying an additional 15,000 shares during the period. Eachwin Capital LP acquired a new position in Marriott International during the first quarter valued at approximately $506,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Marriott International during the first quarter valued at approximately $2,771,000. 73.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Marriott International Inc. (NASDAQ:MAR) traded up 0.78% on Friday, reaching $67.44. 1,992,970 shares of the company’s stock traded hands. Marriott International Inc. has a 52 week low of $56.43 and a 52 week high of $77.90. The firm has a market capitalization of $17.16 billion, a price-to-earnings ratio of 20.10 and a beta of 1.28. The company has a 50 day moving average price of $67.74 and a 200 day moving average price of $68.69.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 23rd were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. Marriott International’s payout ratio is currently 35.71%.

Several equities analysts have commented on MAR shares. Zacks Investment Research upgraded shares of Marriott International from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Vetr downgraded shares of Marriott International from a “buy” rating to a “hold” rating and set a $74.52 price target for the company. in a research note on Tuesday, July 26th. Sanford C. Bernstein started coverage on shares of Marriott International in a research note on Thursday, September 8th. They issued an “outperform” rating and a $87.00 price target for the company. Telsey Advisory Group dropped their price target on shares of Marriott International from $74.00 to $70.00 and set a “market perform” rating for the company in a research note on Friday, September 23rd. Finally, Stifel Nicolaus boosted their price target on shares of Marriott International from $65.00 to $66.00 and gave the stock a “hold” rating in a research note on Monday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $77.31.

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

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.

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