Parametric Portfolio Associates LLC raised its stake in shares of Marriott International Inc (NASDAQ:MAR) by 8.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 787,801 shares of the company’s stock after purchasing an additional 58,288 shares during the period. Parametric Portfolio Associates LLC owned 0.22% of Marriott International worth $86,863,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Advisory Services Network LLC grew its stake in shares of Marriott International by 1,490.1% in the second quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock worth $113,000 after acquiring an additional 1,058 shares during the last quarter. Grove Bank & Trust grew its stake in shares of Marriott International by 214.8% in the third quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock worth $136,000 after acquiring an additional 840 shares during the last quarter. First Quadrant L P CA acquired a new stake in shares of Marriott International in the third quarter worth $136,000. Carroll Financial Associates Inc. grew its stake in shares of Marriott International by 175.6% in the third quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock worth $147,000 after acquiring an additional 843 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Marriott International by 66.2% in the third quarter. Advisors Asset Management Inc. now owns 1,481 shares of the company’s stock worth $163,000 after acquiring an additional 590 shares during the last quarter. Institutional investors own 66.83% of the company’s stock.
Marriott International Inc (NASDAQ MAR) opened at $129.82 on Friday. The stock has a market capitalization of $47,329.91, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 3.25 and a beta of 1.35. Marriott International Inc has a twelve month low of $81.04 and a twelve month high of $129.99. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.52 and a current ratio of 0.52.
Marriott International declared that its board has initiated a share buyback plan on Thursday, November 9th that allows the company to repurchase 30,000,000 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.02%. Marriott International’s payout ratio is presently 35.87%.
In other Marriott International news, Director Eric Hippeau sold 4,863 shares of Marriott International stock in a transaction on Monday, November 20th. The stock was sold at an average price of $125.98, for a total transaction of $612,640.74. Following the completion of the transaction, the director now directly owns 34,245 shares of the company’s stock, valued at $4,314,185.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Stephanie Linnartz sold 8,333 shares of Marriott International stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $122.82, for a total value of $1,023,459.06. Following the completion of the transaction, the executive vice president now directly owns 28,263 shares of the company’s stock, valued at $3,471,261.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 205,771 shares of company stock valued at $24,623,025. Company insiders own 11.32% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Morgan Stanley restated a “buy” rating on shares of Marriott International in a research note on Friday, December 8th. Deutsche Bank restated a “hold” rating and issued a $124.00 price objective on shares of Marriott International in a research note on Wednesday, December 6th. Barclays raised their price objective on shares of Marriott International from $105.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 28th. Sanford C. Bernstein downgraded shares of Marriott International from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 16th. Finally, Robert W. Baird raised their price objective on shares of Marriott International from $111.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Marriott International currently has an average rating of “Buy” and a consensus target price of $110.86.
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Marriott International Profile
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.
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