BNP Paribas Arbitrage SA boosted its holdings in Marriott International (NASDAQ:MAR) by 35.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,983 shares of the company’s stock after buying an additional 61,111 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.06% of Marriott International worth $25,578,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its stake in shares of Marriott International by 1,490.1% during the second quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after purchasing an additional 1,058 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Marriott International during the first quarter valued at about $115,000. First Quadrant L P CA acquired a new stake in shares of Marriott International during the third quarter valued at about $136,000. Carroll Financial Associates Inc. boosted its stake in shares of Marriott International by 175.6% during the third quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock valued at $147,000 after purchasing an additional 843 shares in the last quarter. Finally, Baker Ellis Asset Management LLC acquired a new stake in shares of Marriott International during the second quarter valued at about $133,000. 66.06% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of Marriott International 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 of the company’s stock, valued at $49,310,576.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David S. Marriott sold 8,400 shares of Marriott International stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $100.51, for a total value of $844,284.00. Following the transaction, the insider now directly owns 629,136 shares in the company, valued at approximately $63,234,459.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,727 shares of company stock valued at $11,339,600. Corporate insiders own 11.32% of the company’s stock.
A number of brokerages have recently commented on MAR. J P Morgan Chase & Co reissued an “overweight” rating and set a $113.00 price target (up from $111.00) on shares of Marriott International in a research note on Wednesday, August 9th. Morgan Stanley raised their price objective on Marriott International from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Thursday. Berenberg Bank restated a “buy” rating and set a $125.00 price objective on shares of Marriott International in a research report on Friday, August 18th. Stifel Nicolaus restated a “hold” rating and set a $115.00 price objective (up from $98.00) on shares of Marriott International in a research report on Wednesday. Finally, BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $106.64.
Marriott International (NASDAQ MAR) traded up $1.30 during midday trading on Friday, hitting $120.11. The stock had a trading volume of 3,377,000 shares, compared to its average volume of 2,456,549. The company has a market capitalization of $43,315.90, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 3.06 and a beta of 1.34. Marriott International has a 52-week low of $72.75 and a 52-week high of $124.34. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.53 and a current ratio of 0.52.
Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.12. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.22 billion. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The company’s quarterly revenue was up 43.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. equities analysts expect that Marriott International will post 4.22 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.32 annualized dividend and a dividend yield of 1.10%. Marriott International’s dividend payout ratio is 35.87%.
Marriott International declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 9th that authorizes the company to buyback 30,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
About Marriott International
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.
Want to see what other hedge funds are holding MAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marriott International (NASDAQ:MAR).
Receive News & Ratings for Marriott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marriott International and related companies with MarketBeat.com's FREE daily email newsletter.