Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lowered its stake in Marriott International, Inc. (NASDAQ:MAR) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,727 shares of the company’s stock after selling 131 shares during the period. Lake Street Advisors Group LLC’s holdings in Marriott International were worth $927,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Burke & Herbert Bank & Trust Co. boosted its position in Marriott International by 26.0% during the third quarter. Burke & Herbert Bank & Trust Co. now owns 3,849 shares of the company’s stock worth $957,000 after purchasing an additional 794 shares in the last quarter. Dakota Wealth Management lifted its position in shares of Marriott International by 2.4% in the third quarter. Dakota Wealth Management now owns 7,661 shares of the company’s stock valued at $1,904,000 after acquiring an additional 183 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Marriott International by 1,621.4% in the third quarter. Assenagon Asset Management S.A. now owns 86,328 shares of the company’s stock valued at $21,461,000 after acquiring an additional 81,313 shares in the last quarter. Lafayette Investments Inc. increased its stake in Marriott International by 9.7% in the third quarter. Lafayette Investments Inc. now owns 1,781 shares of the company’s stock valued at $443,000 after purchasing an additional 157 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Marriott International by 63.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 9,065 shares of the company’s stock valued at $2,254,000 after purchasing an additional 3,523 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MAR has been the subject of several analyst reports. Bank of America upped their target price on Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Barclays upped their price target on Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 17th. Robert W. Baird set a $258.00 target price on Marriott International in a research report on Thursday, October 17th. The Goldman Sachs Group initiated coverage on Marriott International in a research report on Wednesday, September 18th. They issued a “buy” rating and a $267.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Marriott International has a consensus rating of “Hold” and an average target price of $256.39.

Marriott International Price Performance

Shares of NASDAQ MAR opened at $262.12 on Friday. The business’s 50-day moving average price is $242.52 and its two-hundred day moving average price is $238.81. Marriott International, Inc. has a one year low of $180.75 and a one year high of $266.58. The company has a market capitalization of $74.87 billion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 6.36 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.01. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the previous year, the firm earned $2.26 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, equities analysts anticipate that Marriott International, Inc. will post 9.37 EPS for the current year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 16th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 0.96%. Marriott International’s dividend payout ratio is 26.01%.

Marriott International Company Profile

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.