Marriott International, Inc. (NASDAQ:MAR) Stake Increased by Covington Capital Management

Covington Capital Management increased its stake in Marriott International, Inc. (NASDAQ:MARGet Rating) by 660.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 783 shares of the company’s stock after buying an additional 680 shares during the period. Covington Capital Management’s holdings in Marriott International were worth $106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lloyd Advisory Services LLC. acquired a new position in Marriott International in the first quarter worth $25,000. Riverview Trust Co acquired a new position in Marriott International in the first quarter worth $26,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Marriott International in the first quarter worth $29,000. Core Alternative Capital boosted its holdings in Marriott International by 1,261.5% in the first quarter. Core Alternative Capital now owns 177 shares of the company’s stock worth $31,000 after purchasing an additional 164 shares during the period. Finally, Hazlett Burt & Watson Inc. acquired a new position in shares of Marriott International during the first quarter valued at $34,000. Institutional investors own 70.95% of the company’s stock.

Marriott International Price Performance

Shares of Marriott International stock opened at $154.92 on Monday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 4.64. The company’s 50-day moving average price is $156.02 and its two-hundred day moving average price is $161.18. Marriott International, Inc. has a 52 week low of $131.01 and a 52 week high of $195.90. The stock has a market cap of $50.28 billion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 0.59 and a beta of 1.61.

Marriott International (NASDAQ:MARGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.55 by $0.25. The firm had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Marriott International had a net margin of 9.72% and a return on equity of 120.01%. Marriott International’s revenue for the quarter was up 69.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. As a group, sell-side analysts anticipate that Marriott International, Inc. will post 6.52 EPS for the current fiscal year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, August 18th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, August 17th. This represents a $1.20 annualized dividend and a yield of 0.77%. Marriott International’s payout ratio is presently 22.68%.

Insiders Place Their Bets

In other Marriott International news, Director Eric Hippeau sold 13,987 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $158.77, for a total transaction of $2,220,715.99. Following the sale, the director now owns 14,461 shares in the company, valued at approximately $2,295,972.97. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 12.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Marriott International from $164.00 to $155.00 in a report on Wednesday, August 3rd. Berenberg Bank raised shares of Marriott International from a “hold” rating to a “buy” rating and boosted their price target for the company from $165.00 to $185.00 in a report on Thursday. StockNews.com raised shares of Marriott International from a “hold” rating to a “buy” rating in a report on Friday, August 12th. Stifel Nicolaus lifted their price objective on shares of Marriott International from $150.00 to $161.00 in a research note on Tuesday, August 2nd. Finally, Cowen cut their price objective on shares of Marriott International to $170.00 in a research note on Friday, July 22nd. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Marriott International has a consensus rating of “Moderate Buy” and an average price target of $177.71.

Marriott International Profile

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Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare 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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Institutional Ownership by Quarter for Marriott International (NASDAQ:MAR)

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