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Asset Advisors Investment Management LLC Decreases Stake in Marriott International, Inc. (NASDAQ:MAR)

Asset Advisors Investment Management LLC reduced its position in Marriott International, Inc. (NASDAQ:MARGet Rating) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,635 shares of the company’s stock after selling 1,020 shares during the period. Marriott International accounts for about 2.3% of Asset Advisors Investment Management LLC’s investment portfolio, making the stock its 12th biggest position. Asset Advisors Investment Management LLC’s holdings in Marriott International were worth $16,485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MAR. American Century Companies Inc. raised its position in Marriott International by 2.4% during the first quarter. American Century Companies Inc. now owns 13,938 shares of the company’s stock valued at $2,450,000 after purchasing an additional 330 shares during the period. Raymond James Trust N.A. raised its position in Marriott International by 5.8% during the first quarter. Raymond James Trust N.A. now owns 3,444 shares of the company’s stock valued at $605,000 after purchasing an additional 189 shares during the period. Synovus Financial Corp grew its stake in shares of Marriott International by 13.3% during the first quarter. Synovus Financial Corp now owns 3,873 shares of the company’s stock valued at $682,000 after buying an additional 455 shares during the last quarter. Sei Investments Co. grew its stake in shares of Marriott International by 12.1% during the first quarter. Sei Investments Co. now owns 43,563 shares of the company’s stock valued at $7,708,000 after buying an additional 4,685 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of Marriott International by 64.9% during the first quarter. Candriam Luxembourg S.C.A. now owns 27,406 shares of the company’s stock valued at $4,816,000 after buying an additional 10,790 shares during the last quarter. 58.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Benjamin T. Breland sold 625 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $162.00, for a total transaction of $101,250.00. Following the completion of the sale, the executive vice president now owns 7,102 shares in the company, valued at approximately $1,150,524. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Marriott International news, Director Eric Hippeau sold 7,200 shares of Marriott International stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $160.24, for a total transaction of $1,153,728.00. Following the completion of the sale, the director now owns 7,261 shares of the company’s stock, valued at approximately $1,163,502.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Benjamin T. Breland sold 625 shares of Marriott International stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $162.00, for a total value of $101,250.00. Following the sale, the executive vice president now directly owns 7,102 shares of the company’s stock, valued at approximately $1,150,524. The disclosure for this sale can be found here. Company insiders own 12.21% of the company’s stock.

Marriott International Stock Up 0.8 %

NASDAQ MAR traded up $1.23 during midday trading on Friday, hitting $161.22. 17,935 shares of the company traded hands, compared to its average volume of 1,628,474. The company has a debt-to-equity ratio of 8.33, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market cap of $51.03 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56. The company’s 50-day simple moving average is $156.08 and its 200-day simple moving average is $152.81. Marriott International, Inc. has a 52 week low of $131.01 and a 52 week high of $195.90.

Marriott International (NASDAQ:MARGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported $1.69 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.69. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.27 billion. Marriott International had a return on equity of 132.01% and a net margin of 11.16%. As a group, equities research analysts forecast that Marriott International, Inc. will post 6.56 earnings per share for the current year.

Marriott International announced that its Board of Directors has approved a share buyback program on Thursday, November 10th that permits the company to buyback 25,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Marriott International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Wednesday, November 23rd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 22nd. This represents a $1.20 annualized dividend and a dividend yield of 0.74%. Marriott International’s dividend payout ratio is presently 24.39%.

Wall Street Analyst Weigh In

MAR has been the topic of a number of analyst reports. BMO Capital Markets cut their target price on Marriott International from $165.00 to $160.00 and set a “market perform” rating on the stock in a research note on Friday, November 4th. Jefferies Financial Group cut Marriott International from a “buy” rating to a “hold” rating and set a $166.00 target price on the stock. in a research note on Monday. Redburn Partners initiated coverage on Marriott International in a research note on Wednesday, November 30th. They set a “sell” rating on the stock. Berenberg Bank raised Marriott International from a “hold” rating to a “buy” rating and increased their price objective for the stock from $165.00 to $185.00 in a research note on Thursday, September 15th. Finally, Citigroup cut Marriott International from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $170.00 to $175.00 in a research note on Wednesday, December 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $174.36.

About Marriott International

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding MAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marriott International, Inc. (NASDAQ:MARGet Rating).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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