Covington Capital Management Buys 680 Shares of Marriott International, Inc. (NASDAQ:MAR)

Covington Capital Management raised its stake in Marriott International, Inc. (NASDAQ:MARGet Rating) by 660.2% during the second quarter, HoldingsChannel.com reports. The fund owned 783 shares of the company’s stock after acquiring an additional 680 shares during the quarter. Covington Capital Management’s holdings in Marriott International were worth $106,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Marriott International by 2.5% during the first quarter. Vanguard Group Inc. now owns 21,483,503 shares of the company’s stock worth $3,775,727,000 after purchasing an additional 527,427 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Marriott International by 0.8% during the first quarter. BlackRock Inc. now owns 15,956,130 shares of the company’s stock worth $2,804,289,000 after purchasing an additional 123,001 shares during the last quarter. State Street Corp grew its holdings in shares of Marriott International by 5.3% during the fourth quarter. State Street Corp now owns 12,139,062 shares of the company’s stock worth $2,005,859,000 after purchasing an additional 609,192 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Marriott International by 16.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,570,396 shares of the company’s stock worth $1,330,497,000 after purchasing an additional 1,076,070 shares during the last quarter. Finally, Capital World Investors grew its holdings in shares of Marriott International by 0.6% during the fourth quarter. Capital World Investors now owns 5,535,829 shares of the company’s stock worth $914,740,000 after purchasing an additional 32,934 shares during the last quarter. 70.95% of the stock is currently owned by institutional investors.

Marriott International Trading Down 4.7 %

NASDAQ MAR opened at $154.92 on Monday. The stock’s 50-day moving average is $156.02 and its 200-day moving average is $161.18. Marriott International, Inc. has a one year low of $131.01 and a one year high of $195.90. The firm has a market cap of $50.28 billion, a P/E ratio of 29.29, a P/E/G ratio of 0.59 and a beta of 1.61. The company has a debt-to-equity ratio of 4.64, a current ratio of 0.45 and a quick ratio of 0.45.

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

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, August 18th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Wednesday, August 17th. Marriott International’s dividend payout ratio is presently 22.68%.

Analyst Ratings Changes

Several research firms recently issued reports on MAR. Robert W. Baird raised their price target on Marriott International to $183.00 in a report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price target on Marriott International from $164.00 to $155.00 in a report on Wednesday, August 3rd. Stifel Nicolaus increased their target price on Marriott International from $150.00 to $161.00 in a research note on Tuesday, August 2nd. Barclays increased their target price on Marriott International from $164.00 to $170.00 in a research note on Wednesday, August 3rd. Finally, Evercore ISI increased their target price on Marriott International to $175.00 in a research note on Tuesday, August 9th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $177.71.

Insider Activity at Marriott International

In other Marriott International news, Director Eric Hippeau sold 13,987 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $158.77, for a total value of $2,220,715.99. Following the completion of the transaction, the director now directly owns 14,461 shares in the company, valued at $2,295,972.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.21% of the stock is owned by insiders.

About Marriott International

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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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