Putnam Investments LLC reduced its holdings in Marriott International Inc (NASDAQ:MAR) by 18.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,449 shares of the company’s stock after selling 541 shares during the period. Putnam Investments LLC’s holdings in Marriott International were worth $344,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Meridian Wealth Management LLC bought a new stake in shares of Marriott International during the second quarter valued at approximately $25,000. NuWave Investment Management LLC raised its position in shares of Marriott International by 373.9% during the second quarter. NuWave Investment Management LLC now owns 218 shares of the company’s stock worth $31,000 after acquiring an additional 172 shares during the last quarter. TLW Wealth Management LLC bought a new stake in shares of Marriott International during the second quarter worth $31,000. Rational Advisors LLC raised its position in shares of Marriott International by 373.9% during the second quarter. Rational Advisors LLC now owns 218 shares of the company’s stock worth $31,000 after acquiring an additional 172 shares during the last quarter. Finally, Motco bought a new stake in Marriott International in the second quarter valued at about $40,000. 63.21% of the stock is currently owned by institutional investors.
In other Marriott International news, Director George Munoz sold 4,866 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $133.61, for a total transaction of $650,146.26. Following the completion of the transaction, the director now owns 6,754 shares of the company’s stock, valued at $902,401.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig S. Smith sold 14,915 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $128.20, for a total transaction of $1,912,103.00. Following the sale, the insider now directly owns 18,062 shares of the company’s stock, valued at approximately $2,315,548.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,121 shares of company stock valued at $4,121,629. 12.60% of the stock is currently owned by company insiders.
Marriott International (NASDAQ:MAR) last released its earnings results on Monday, August 5th. The company reported $1.56 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.56. Marriott International had a return on equity of 113.75% and a net margin of 6.81%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the prior year, the firm earned $1.73 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. As a group, equities analysts expect that Marriott International Inc will post 6.03 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.56%. Marriott International’s dividend payout ratio is currently 30.92%.
Several brokerages have issued reports on MAR. BidaskClub downgraded Marriott International from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Deutsche Bank reissued a “hold” rating and set a $123.00 price target on shares of Marriott International in a research report on Wednesday, August 7th. Royal Bank of Canada raised their price objective on Marriott International from $146.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Sanford C. Bernstein began coverage on Marriott International in a research report on Wednesday, September 11th. They issued a “market perform” rating and a $136.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on Marriott International from $134.00 to $128.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Marriott International has a consensus rating of “Hold” and a consensus target price of $135.67.
Marriott International Company Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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