Pinnacle Financial Partners Inc. Sells 264 Shares of Marriott International Inc (NASDAQ:MAR)
Pinnacle Financial Partners Inc. cut its stake in shares of Marriott International Inc (NASDAQ:MAR) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,135 shares of the company’s stock after selling 264 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Marriott International were worth $439,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of MAR. Geode Capital Management LLC grew its position in Marriott International by 13.4% during the 4th quarter. Geode Capital Management LLC now owns 3,794,287 shares of the company’s stock worth $411,201,000 after acquiring an additional 448,325 shares during the last quarter. Northern Trust Corp increased its stake in shares of Marriott International by 8.1% in the second quarter. Northern Trust Corp now owns 3,246,154 shares of the company’s stock valued at $455,403,000 after buying an additional 243,203 shares during the period. Markel Corp increased its stake in shares of Marriott International by 1.4% in the second quarter. Markel Corp now owns 1,559,269 shares of the company’s stock valued at $218,750,000 after buying an additional 21,000 shares during the period. AKO Capital LLP increased its position in Marriott International by 1.8% in the 2nd quarter. AKO Capital LLP now owns 1,235,952 shares of the company’s stock valued at $173,392,000 after acquiring an additional 22,173 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Marriott International by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,148,650 shares of the company’s stock worth $161,145,000 after purchasing an additional 21,070 shares during the last quarter. Institutional investors own 63.23% of the company’s stock.
In other news, insider David Grissen sold 13,686 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $136.85, for a total transaction of $1,872,929.10. Following the completion of the transaction, the insider now directly owns 70,416 shares of the company’s stock, valued at $9,636,429.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig S. Smith sold 14,915 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $128.20, for a total transaction of $1,912,103.00. Following the transaction, the insider now owns 18,062 shares in the company, valued at approximately $2,315,548.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,907 shares of company stock worth $9,131,475. Corporate insiders own 12.60% of the company’s stock.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Monday, August 5th. The company reported $1.56 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.56. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.50 billion. Marriott International had a net margin of 6.81% and a return on equity of 113.75%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.73 EPS. Sell-side analysts forecast that Marriott International Inc will post 6.03 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, August 22nd will be paid a $0.48 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.92 annualized dividend and a dividend yield of 1.44%. Marriott International’s dividend payout ratio is presently 30.92%.
A number of equities research analysts have recently commented on MAR shares. Sanford C. Bernstein assumed coverage on shares of Marriott International in a research note on Wednesday. They issued a “market perform” rating and a $136.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Marriott International from $134.00 to $128.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Morgan Stanley raised their price objective on shares of Marriott International from $123.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. BidaskClub lowered shares of Marriott International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Finally, Deutsche Bank reiterated a “hold” rating and issued a $123.00 target price on shares of Marriott International in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. Marriott International presently has a consensus rating of “Hold” and a consensus target price of $134.79.
About Marriott International
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.
Recommended Story: Dividend
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:MAR).
Receive News & Ratings for Marriott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marriott International and related companies with MarketBeat.com's FREE daily email newsletter.