Sit Investment Associates Inc. Cuts Holdings in Marriott International Inc (MAR)

Sit Investment Associates Inc. lowered its position in shares of Marriott International Inc (NASDAQ:MAR) by 10.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,772 shares of the company’s stock after selling 7,600 shares during the quarter. Sit Investment Associates Inc.’s holdings in Marriott International were worth $9,063,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kopp Investment Advisors LLC raised its position in shares of Marriott International by 0.3% during the 2nd quarter. Kopp Investment Advisors LLC now owns 11,481 shares of the company’s stock worth $1,152,000 after purchasing an additional 36 shares during the period. Hancock Holding Co. raised its position in shares of Marriott International by 1.9% during the 2nd quarter. Hancock Holding Co. now owns 4,876 shares of the company’s stock worth $489,000 after purchasing an additional 91 shares during the period. Associated Banc Corp raised its position in shares of Marriott International by 1.5% during the 2nd quarter. Associated Banc Corp now owns 6,809 shares of the company’s stock worth $683,000 after purchasing an additional 100 shares during the period. Riverhead Capital Management LLC raised its position in shares of Marriott International by 0.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 24,118 shares of the company’s stock worth $2,419,000 after purchasing an additional 109 shares during the period. Finally, Ropes Wealth Advisors LLC raised its position in shares of Marriott International by 5.1% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 3,659 shares of the company’s stock worth $367,000 after purchasing an additional 177 shares during the period. Hedge funds and other institutional investors own 66.65% of the company’s stock.

A number of brokerages have recently weighed in on MAR. Morgan Stanley increased their price target on Marriott International from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Thursday, November 9th. Stifel Nicolaus reiterated a “hold” rating and set a $115.00 price target (up from $98.00) on shares of Marriott International in a research report on Wednesday, November 8th. SunTrust Banks raised their target price on Marriott International to $108.00 and gave the company a “hold” rating in a research report on Thursday, November 9th. BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 21st. Finally, Robert W. Baird raised their target price on Marriott International from $111.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $112.62.

Marriott International Inc (NASDAQ MAR) opened at $139.43 on Friday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization of $50,830.00, a price-to-earnings ratio of 37.89, a price-to-earnings-growth ratio of 2.98 and a beta of 1.35. Marriott International Inc has a one year low of $81.04 and a one year high of $139.54.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.22 billion. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The firm’s quarterly revenue was up 43.7% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. equities research analysts predict that Marriott International Inc will post 4.24 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Tuesday, November 21st. Marriott International’s payout ratio is currently 35.87%.

Marriott International announced that its board has authorized a stock repurchase program on Thursday, November 9th that authorizes the company to buyback 30,000,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other news, insider Craig S. Smith sold 5,840 shares of the firm’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $136.26, for a total transaction of $795,758.40. Following the completion of the sale, the insider now directly owns 26,317 shares of the company’s stock, valued at approximately $3,585,954.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Deborah Marriott Harrison sold 130,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $119.17, for a total value of $15,492,100.00. Following the sale, the insider now directly owns 114,155 shares of the company’s stock, valued at $13,603,851.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 221,825 shares of company stock valued at $27,378,820. 11.32% of the stock is currently owned by corporate insiders.

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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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Institutional Ownership by Quarter for Marriott International (NASDAQ:MAR)

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