Primecap Management Co. CA reduced its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,019,046 shares of the company’s stock after selling 15,050 shares during the quarter. Primecap Management Co. CA’s holdings in Marriott International were worth $139,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also made changes to their positions in the company. Amundi Asset Management US Inc. grew its holdings in shares of Marriott International by 294.0% in the 1st quarter. Amundi Asset Management US Inc. now owns 1,392,571 shares of the company’s stock worth $206,254,000 after purchasing an additional 1,039,154 shares during the last quarter. Bessemer Group Inc. grew its holdings in Marriott International by 49,703.9% during the 1st quarter. Bessemer Group Inc. now owns 1,032,932 shares of the company’s stock worth $152,988,000 after acquiring an additional 1,030,858 shares during the last quarter. Fayez Sarofim & Co bought a new stake in Marriott International during the 1st quarter worth about $107,466,000. FIL Ltd grew its holdings in Marriott International by 160.5% during the 1st quarter. FIL Ltd now owns 824,854 shares of the company’s stock worth $122,169,000 after acquiring an additional 508,173 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Marriott International by 27.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,186,115 shares of the company’s stock worth $175,677,000 after acquiring an additional 253,551 shares during the last quarter. Institutional investors own 58.04% of the company’s stock.
A number of research firms have issued reports on MAR. BMO Capital Markets upped their target price on shares of Marriott International from $140.00 to $145.00 and gave the company a “market perform” rating in a research report on Wednesday, August 4th. Morgan Stanley upped their target price on shares of Marriott International from $138.00 to $143.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 4th. Finally, Zacks Investment Research raised shares of Marriott International from a “hold” rating to a “strong-buy” rating and set a $163.00 price objective on the stock in a research note on Tuesday, July 13th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $139.07.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Tuesday, August 3rd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.36. Marriott International had a net margin of 3.51% and a return on equity of 83.60%. The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the company earned ($0.64) earnings per share. The firm’s revenue was up 115.1% compared to the same quarter last year. As a group, sell-side analysts expect that Marriott International, Inc. will post 2.98 EPS for the current year.
Marriott International Profile
Marriott International, Inc engages in the operation and franchise of hotel, residential, and timeshare properties. It operates through the following business segments: U.S. & Canada; Asia Pacific; and Europe, Middle East and Africa (“EMEA“). The company was founded by J. Wiliard Marriot and Alice Sheets Marriott in 1927 and is headquartered in Bethesda, MD.
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