Insider Selling: Marriott International major shareholder Sells 100,000 Shares of Stock (MAR)
Marriott International (NYSE:MAR) major shareholder J W. Marriott, Jr. sold 100,000 shares of Marriott International stock on the open market in a transaction dated Monday, June 23rd. The stock was sold at an average price of $63.65, for a total transaction of $6,365,000.00. Following the sale, the insider now directly owns 188,229 shares in the company, valued at approximately $11,980,776. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on MAR. Analysts at Zacks reiterated a “neutral” rating on shares of Marriott International in a research note on Friday. They now have a $67.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Marriott International in a research note on Wednesday, June 18th. They now have a $70.00 price target on the stock, up previously from $65.00. Finally, analysts at Macquarie downgraded shares of Marriott International from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 11th. They now have a $65.00 price target on the stock, up previously from $60.00. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $60.40.
Marriott International (NYSE:MAR) traded up 0.05% during mid-day trading on Tuesday, hitting $63.82. The stock had a trading volume of 741,718 shares. Marriott International has a 52-week low of $38.23 and a 52-week high of $64.10. The stock’s 50-day moving average is $60.49 and its 200-day moving average is $54.20. The company has a market cap of $18.684 billion and a price-to-earnings ratio of 29.79.
Marriott International (NYSE:MAR) last released its earnings data on Tuesday, April 29th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts predict that Marriott International will post $2.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 27th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from Marriott International’s previous quarterly dividend of $0.17.
Marriott International, Inc is a diversified hospitality company. It is a lodging company with more than 3,700 properties in 73 countries and territories.
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