NuWave Investment Management LLC grew its position in Marriott International Inc (NASDAQ:MAR) by 50.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 328 shares of the company’s stock after purchasing an additional 110 shares during the period. NuWave Investment Management LLC’s holdings in Marriott International were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently bought and sold shares of the company. Alpha Cubed Investments LLC lifted its holdings in shares of Marriott International by 4.0% during the 2nd quarter. Alpha Cubed Investments LLC now owns 2,123 shares of the company’s stock worth $298,000 after acquiring an additional 82 shares during the last quarter. Patten Group Inc. lifted its holdings in shares of Marriott International by 0.8% during the 2nd quarter. Patten Group Inc. now owns 10,586 shares of the company’s stock worth $1,485,000 after acquiring an additional 88 shares during the last quarter. Zeke Capital Advisors LLC lifted its holdings in shares of Marriott International by 1.7% during the 2nd quarter. Zeke Capital Advisors LLC now owns 5,383 shares of the company’s stock worth $755,000 after acquiring an additional 92 shares during the last quarter. Baxter Bros Inc. lifted its holdings in shares of Marriott International by 0.7% during the 2nd quarter. Baxter Bros Inc. now owns 14,925 shares of the company’s stock worth $2,094,000 after acquiring an additional 100 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its holdings in shares of Marriott International by 0.6% during the 2nd quarter. GHP Investment Advisors Inc. now owns 18,461 shares of the company’s stock worth $2,590,000 after acquiring an additional 107 shares during the last quarter. 63.22% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on MAR shares. ValuEngine downgraded shares of Marriott International from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. Sanford C. Bernstein started coverage on shares of Marriott International in a report on Wednesday, September 11th. They set a “market perform” rating and a $136.00 price objective for the company. Royal Bank of Canada boosted their price target on shares of Marriott International from $146.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Wells Fargo & Co lowered their price target on shares of Marriott International from $135.00 to $130.00 and set a “market perform” rating for the company in a research note on Friday. Finally, Cowen set a $140.00 price target on shares of Marriott International and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. Marriott International has a consensus rating of “Hold” and a consensus target price of $132.87.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, August 5th. The company reported $1.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.56. Marriott International had a net margin of 6.81% and a return on equity of 113.75%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. Marriott International’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, sell-side analysts forecast that Marriott International Inc will post 6.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, August 22nd were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Wednesday, August 21st. Marriott International’s dividend payout ratio is currently 30.92%.
In related news, insider Craig S. Smith sold 14,915 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 18,062 shares in the company, valued at $2,315,548.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce W. Duncan sold 3,376 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $132.16, for a total transaction of $446,172.16. Following the transaction, the director now owns 14,600 shares in the company, valued at approximately $1,929,536. The disclosure for this sale can be found here. Insiders have sold 23,157 shares of company stock worth $3,008,421 in the last quarter. 12.60% of the stock is owned by corporate insiders.
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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