Bruce W. Duncan Sells 2,580 Shares of Marriott International Inc (MAR) Stock
Marriott International Inc (NASDAQ:MAR) Director Bruce W. Duncan sold 2,580 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $129.03, for a total transaction of $332,897.40. Following the completion of the sale, the director now owns 41,816 shares of the company’s stock, valued at $5,395,518.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Marriott International Inc (NASDAQ:MAR) traded down $0.23 during mid-day trading on Thursday, hitting $127.30. 1,698,300 shares of the stock traded hands, compared to its average volume of 2,465,687. The stock has a market capitalization of $46,495.05, a P/E ratio of 31.18, a PEG ratio of 3.19 and a beta of 1.35. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.83. Marriott International Inc has a fifty-two week low of $81.04 and a fifty-two week high of $129.56.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.12. The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. The firm’s quarterly revenue was up 43.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. research analysts forecast that Marriott International Inc will post 4.24 EPS for the current fiscal year.
Marriott International announced that its board has initiated a stock repurchase plan on Thursday, November 9th that authorizes the company to repurchase 30,000,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have issued reports on the stock. J P Morgan Chase & Co reiterated an “overweight” rating and set a $113.00 price objective (up from $111.00) on shares of Marriott International in a research note on Wednesday, August 9th. Morgan Stanley boosted their price objective on shares of Marriott International from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, November 9th. Berenberg Bank reiterated a “buy” rating and set a $125.00 price objective on shares of Marriott International in a research note on Friday, August 18th. Stifel Nicolaus reiterated a “hold” rating and set a $115.00 price objective (up from $98.00) on shares of Marriott International in a research note on Wednesday, November 8th. Finally, SunTrust Banks boosted their price objective on shares of Marriott International to $108.00 and gave the stock a “hold” rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $110.09.
A number of institutional investors and hedge funds have recently bought and sold shares of MAR. Advisory Services Network LLC raised its holdings in Marriott International by 1,490.1% in the second quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after acquiring an additional 1,058 shares in the last quarter. Baker Ellis Asset Management LLC acquired a new stake in Marriott International in the second quarter valued at $133,000. First Quadrant L P CA acquired a new stake in Marriott International in the third quarter valued at $136,000. Grove Bank & Trust raised its holdings in shares of Marriott International by 214.8% during the third quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock worth $136,000 after purchasing an additional 840 shares during the period. Finally, Carroll Financial Associates Inc. raised its holdings in shares of Marriott International by 175.6% during the third quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock worth $147,000 after purchasing an additional 843 shares during the period. 66.83% of the stock is currently owned by hedge funds and other institutional investors.
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About Marriott International
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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