OLD National Bancorp IN trimmed its position in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) by 31.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,230 shares of the company’s stock after selling 561 shares during the period. OLD National Bancorp IN’s holdings in Marriott International were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Metis Global Partners LLC boosted its holdings in shares of Marriott International by 37.5% in the fourth quarter. Metis Global Partners LLC now owns 5,627 shares of the company’s stock worth $838,000 after acquiring an additional 1,535 shares during the period. AE Wealth Management LLC boosted its holdings in shares of Marriott International by 11.5% in the first quarter. AE Wealth Management LLC now owns 41,046 shares of the company’s stock worth $6,815,000 after acquiring an additional 4,218 shares during the period. Fund Management at Engine No. 1 LLC boosted its holdings in shares of Marriott International by 11.7% in the fourth quarter. Fund Management at Engine No. 1 LLC now owns 2,963 shares of the company’s stock worth $441,000 after acquiring an additional 311 shares during the period. Verity & Verity LLC bought a new position in shares of Marriott International in the fourth quarter worth $417,000. Finally, Canandaigua National Bank & Trust Co. bought a new position in shares of Marriott International in the first quarter worth $807,000. 58.53% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
MAR has been the subject of several research analyst reports. TheStreet lowered Marriott International from a “b” rating to a “c+” rating in a research note on Monday, May 8th. TD Cowen lifted their price objective on Marriott International from $170.00 to $172.00 and gave the company an “outperform” rating in a research note on Tuesday, March 28th. Robert W. Baird lifted their price objective on Marriott International from $187.00 to $198.00 in a research note on Wednesday, May 3rd. Barclays lifted their price objective on Marriott International from $176.00 to $188.00 in a research note on Wednesday, May 3rd. Finally, 51job restated a “maintains” rating on shares of Marriott International in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Marriott International currently has a consensus rating of “Hold” and a consensus target price of $184.69.
Marriott International Stock Performance
Marriott International (NASDAQ:MAR – Free Report) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.23. Marriott International had a return on equity of 272.54% and a net margin of 12.34%. The business had revenue of $5.62 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the previous year, the firm posted $1.25 EPS. The business’s revenue was up 33.7% on a year-over-year basis. As a group, analysts expect that Marriott International, Inc. will post 8.41 earnings per share for the current fiscal year.
Marriott International Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, May 26th were given a $0.52 dividend. This is a boost from Marriott International’s previous quarterly dividend of $0.40. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Thursday, May 25th. Marriott International’s payout ratio is currently 24.33%.
Insider Transactions at Marriott International
In related news, CEO Anthony Capuano sold 16,159 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $176.33, for a total value of $2,849,316.47. Following the completion of the transaction, the chief executive officer now directly owns 157,786 shares in the company, valued at approximately $27,822,405.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Anthony Capuano sold 16,159 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $176.33, for a total value of $2,849,316.47. Following the completion of the transaction, the chief executive officer now directly owns 157,786 shares in the company, valued at approximately $27,822,405.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric Hippeau sold 4,300 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $174.39, for a total transaction of $749,877.00. Following the completion of the transaction, the director now owns 4,072 shares of the company’s stock, valued at $710,116.08. The disclosure for this sale can be found here. Insiders have sold a total of 22,659 shares of company stock valued at $3,994,613 in the last ninety days. 12.32% of the stock is currently owned by corporate insiders.
Marriott International Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, timeshare, and other lodging properties worldwide. The company operates through U.S. and Canada, and International 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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