The Manufacturers Life Insurance Company trimmed its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 6.3% in the third quarter, Holdings Channel.com reports. The firm owned 308,080 shares of the company’s stock after selling 20,604 shares during the period. The Manufacturers Life Insurance Company’s holdings in Marriott International were worth $28,522,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Marriott International by 213.6% during the 2nd quarter. FMR LLC now owns 7,882,922 shares of the company’s stock worth $675,803,000 after acquiring an additional 5,369,482 shares in the last quarter. Vanguard Group Inc. grew its holdings in Marriott International by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 21,810,431 shares of the company’s stock worth $1,869,808,000 after acquiring an additional 931,386 shares in the last quarter. Crake Asset Management LLP acquired a new position in Marriott International during the 2nd quarter worth $57,252,000. FIL Ltd grew its holdings in Marriott International by 505.9% during the 2nd quarter. FIL Ltd now owns 701,709 shares of the company’s stock worth $60,158,000 after acquiring an additional 585,891 shares in the last quarter. Finally, AKO Capital LLP grew its holdings in Marriott International by 37.3% during the 2nd quarter. AKO Capital LLP now owns 2,003,570 shares of the company’s stock worth $171,766,000 after acquiring an additional 544,603 shares in the last quarter. 58.28% of the stock is owned by institutional investors and hedge funds.
MAR has been the subject of several research reports. Jefferies Financial Group raised shares of Marriott International from a “hold” rating to a “buy” rating and lifted their price target for the company from $88.00 to $125.00 in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Marriott International from $90.00 to $96.00 and gave the company a “hold” rating in a report on Monday, November 9th. They noted that the move was a valuation call. BMO Capital Markets raised shares of Marriott International from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $83.00 to $95.00 in a report on Tuesday, October 13th. Argus raised shares of Marriott International from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Thursday. Finally, Citigroup lifted their price target on shares of Marriott International from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, September 21st. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company. Marriott International currently has a consensus rating of “Hold” and an average price target of $115.50.
MAR stock opened at $119.28 on Friday. Marriott International, Inc. has a 52 week low of $46.56 and a 52 week high of $153.39. The company has a market capitalization of $38.69 billion, a price-to-earnings ratio of 86.44 and a beta of 1.68. The firm’s 50-day moving average is $102.33 and its two-hundred day moving average is $95.21.
Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Friday, November 6th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.14. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.29 billion. Marriott International had a net margin of 2.76% and a return on equity of 238.84%. Marriott International’s revenue was down 57.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 EPS. As a group, sell-side analysts anticipate that Marriott International, Inc. will post -0.25 EPS for the current year.
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.
Further Reading: Cash Flow Analysis in Stock Selection
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