Fundsmith Investment Services LTD, a leading investment firm, has recently acquired a new stake in Marriott International, Inc. (NASDAQ:MAR), according to its filing with the Securities & Exchange Commission. The fund purchased 28,021 shares of the company’s stock at an approximate value of $4,653,000. This move has further increased Fundsmith Investment Services LTD.’s investment portfolio and places Marriott International as its 24th biggest position.
Marriott International recently released its earnings results for the second quarter on Tuesday, August 1st. The company reported an earnings per share (EPS) of $2.26 for the quarter, surpassing the consensus estimate of $2.19 by $0.07. With a net margin of 12.15% and a return on equity of 649.26%, Marriott International demonstrated strong financial performance during this period. Additionally, the company generated $6.08 billion in revenue for the quarter, exceeding analyst expectations of $5.98 billion. Comparatively, in the same quarter last year, Marriott International earned an EPS of $1.80 with quarterly revenue growth at 13.8%. Analysts predict that Marriott International will post an EPS of 8.63 for the current year.
Numerous analysts have closely monitored Marriott International and provided insightful reports on its performance and future prospects based on market trends and data analysis. Wells Fargo & Company raised their target price on Marriott International from $212 to $222 and awarded the company an “overweight” rating in their report released on Monday, August 7th.Morgan Stanley also increased their target price from $208 to $225 and assigned an “overweight” rating to the stock on Wednesday, August 2nd.Another report by StockNews.com published on Thursday,August 17th suggested a “hold”rating for Marriott International.The Street further upgraded shares from a “c+” rating to a “b-” rating on Friday, September 1st.Finally, 888 reiterated Marriott International’s rating as a “maintains” in their report published onTuesday, June 27th. Currently, the consensus rating for Marriott International according to Bloomberg is “Hold”, with an average price target of $206.14.
The acquisition of Marriott International shares by Fundsmith Investment Services LTD is indicative of the company’s promising outlook and potential for growth in the future. With strong financial performance and positive ratings from various analysts, it is clear that Marriott International has effectively positioned itself as a key player in the industry. Investors should closely monitor further developments regarding the company and consider this recent move by Fundsmith Investment Services LTD as significant in assessing investment opportunities.
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Marriott International, Inc.: Hedge Funds and Institutional Investors Show Interest
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”CSX” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Marriott International, Inc. (NASDAQ: MAR) has recently caught the attention of hedge funds and other institutional investors, with many buying and selling shares of the stock. Geneos Wealth Management Inc., for instance, boosted its stake in Marriott International by 27.7% during the first quarter, now owning 2,308 shares worth $383,000 after purchasing an additional 500 shares in the last quarter.
AE Wealth Management LLC also raised its position in Marriott International by 11.5% during the first quarter, now holding 41,046 shares worth $6,815,000 after acquiring an additional 4,218 shares during that period. Pacer Advisors Inc., on the other hand, saw a significant increase of 249.1% in its stake in Marriott International during the first quarter. The company now owns 39,762 shares worth $6,602,000 after purchasing an additional 28,372 shares.
Shelton Capital Management and Fund Management at Engine No. 1 LLC were not left behind either as they both saw an increase in their holdings of Marriott International’s stock during the first quarter by 44.5% and 11.7%, respectively.
It is interesting to note that hedge funds and other institutional investors are currently holding around 58.79% of Marriott International’s stock.
In terms of stocks trading activity, NASDAQ: MAR traded up $5.58 per share during mid-day trading on September 10th. A total of 1,753,495 shares exchanged hands compared to its average volume of 1,696,728 shares.
Marriott International has a market capitalization of $61.27 billion and a price-to-earnings ratio of 23.16 with a beta of 1.59 indicating high volatility relative to the market average.
Analyzing analyst reports on Marriott International reveals that Wells Fargo & Company recently increased their target price on the stock from $212.00 to $222.00, giving the company an “overweight” rating. Morgan Stanley also raised their target price on the stock from $208.00 to $225.00 and gave it an “overweight” rating.
StockNews.com recently began coverage on Marriott International and assigned a “hold” rating for the company. TheStreet upgraded Marriott International’s rating from a “c+” to a “b-“, suggesting improving prospects for the company.
The above-mentioned reports give us insight into the consensus that has emerged amongst analysts who have rated the stock: one analyst has rated the stock as a sell, nine have issued hold ratings, and five have assigned buy ratings to Marriott International. The average price target based on Bloomberg data is $206.14.
Marriott International recently announced its quarterly dividend which will be paid on September 29th to investors of record on August 17th. This dividend stands at $0.52 per share, representing an annualized basis of $2.08 with a yield of 1.01%. The ex-dividend date for this payout was August 16th.
In terms of recent insider activity, CAO Felitia Lee sold 800 shares of Marriott International’s stock in early August at an average price of $205.14 per share, totaling a transaction worth $164,112. After this sale, the chief accounting officer now directly holds 3,363 shares of the company’s stock valued at approximately $689,885.
CEO Anthony Capuano also sold 20,000 shares of Marriott International’s stock on August 28th at an average price of $202.23 per share, resulting in a total transaction worth $4,044,600. Following this transaction, the chief executive officer now owns 100,317 shares valued at around $20,287,106.
Overall, over the last 90 days, insiders have sold 97,223 shares of Marriott International’s stock worth $19,685,695. This means that approximately 12.32% of the company’s stock is owned by insiders.
Considering the recent developments mentioned above, it is crucial for investors and analysts to closely monitor these holdings and trading activities as they provide valuable insights into the market sentiment towards Marriott International.
