Marriott International, Inc. (NASDAQ:MAR) Position Lessened by MAI Capital Management

MAI Capital Management reduced its position in Marriott International, Inc. (NASDAQ:MAR) by 5.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,193 shares of the company’s stock after selling 647 shares during the period. MAI Capital Management’s holdings in Marriott International were worth $2,783,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Quent Capital LLC lifted its stake in Marriott International by 7.9% in the first quarter. Quent Capital LLC now owns 644 shares of the company’s stock valued at $162,000 after acquiring an additional 47 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Marriott International by 151.7% in the first quarter. Bessemer Group Inc. now owns 16,047 shares of the company’s stock worth $4,049,000 after purchasing an additional 9,671 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in Marriott International by 64.7% during the first quarter. Lake Street Advisors Group LLC now owns 3,239 shares of the company’s stock valued at $817,000 after buying an additional 1,272 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Marriott International by 1.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 126,202 shares of the company’s stock worth $31,862,000 after buying an additional 1,582 shares during the last quarter. Finally, Natixis bought a new stake in shares of Marriott International during the 1st quarter worth about $12,310,000. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Sanford C. Bernstein upped their target price on Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Robert W. Baird boosted their price objective on shares of Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Mizuho boosted their price objective on shares of Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Truist Financial reduced their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Finally, Macquarie restated a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a research note on Tuesday, November 5th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Marriott International has an average rating of “Hold” and an average price target of $259.00.

Marriott International Price Performance

Shares of Marriott International stock opened at $279.27 on Wednesday. The firm has a market capitalization of $77.61 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 5.48 and a beta of 1.58. The company’s fifty day moving average price is $258.72 and its two-hundred day moving average price is $242.46. Marriott International, Inc. has a 52-week low of $200.94 and a 52-week high of $289.04.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.05). Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the firm earned $2.11 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts predict that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International’s payout ratio is 26.36%.

Insider Transactions at Marriott International

In related news, CFO Kathleen K. Oberg sold 2,360 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $285.41, for a total transaction of $673,567.60. Following the transaction, the chief financial officer now owns 39,726 shares in the company, valued at $11,338,197.66. This represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Benjamin T. Breland sold 500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the transaction, the executive vice president now owns 12,286 shares in the company, valued at approximately $3,372,384.14. This trade represents a 3.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,108 shares of company stock valued at $3,434,439. 10.07% of the stock is owned by insiders.

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.