Primecap Management Co. CA Has $197.66 Million Position in Marriott International, Inc. (NASDAQ:MAR)

Primecap Management Co. CA cut its position in Marriott International, Inc. (NASDAQ:MAR) by 0.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 876,500 shares of the company’s stock after selling 1,100 shares during the quarter. Primecap Management Co. CA owned 0.30% of Marriott International worth $197,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MAR. Private Advisor Group LLC grew its holdings in shares of Marriott International by 5.1% during the 3rd quarter. Private Advisor Group LLC now owns 21,366 shares of the company’s stock valued at $4,200,000 after purchasing an additional 1,044 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Marriott International during the 3rd quarter valued at approximately $651,000. Ieq Capital LLC grew its holdings in Marriott International by 3.2% during the 3rd quarter. Ieq Capital LLC now owns 13,280 shares of the company’s stock worth $2,610,000 after acquiring an additional 409 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Marriott International by 13.6% during the 3rd quarter. Victory Capital Management Inc. now owns 218,503 shares of the company’s stock worth $42,949,000 after acquiring an additional 26,223 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. bought a new stake in Marriott International during the 3rd quarter worth approximately $202,000. 70.70% of the stock is owned by institutional investors.

Marriott International Price Performance

Shares of MAR traded up $4.53 during trading hours on Friday, hitting $236.59. The company’s stock had a trading volume of 909,514 shares, compared to its average volume of 1,340,672. The business has a 50 day simple moving average of $243.93 and a two-hundred day simple moving average of $233.60. The company has a market cap of $67.58 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 4.38 and a beta of 1.61. Marriott International, Inc. has a 52-week low of $165.13 and a 52-week high of $260.57.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. Marriott International’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 EPS. Research analysts predict that Marriott International, Inc. will post 9.53 earnings per share for the current year.

Marriott International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 24th will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, May 23rd. This is a positive change from Marriott International’s previous quarterly dividend of $0.52. This represents a $2.52 annualized dividend and a yield of 1.07%. Marriott International’s payout ratio is presently 26.01%.

Insider Buying and Selling at Marriott International

In other Marriott International news, insider David S. Marriott sold 2,878 shares of Marriott International stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $248.94, for a total transaction of $716,449.32. Following the completion of the sale, the insider now directly owns 596,042 shares in the company, valued at $148,378,695.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider David S. Marriott sold 2,878 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $248.94, for a total value of $716,449.32. Following the completion of the sale, the insider now directly owns 596,042 shares in the company, valued at approximately $148,378,695.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric Hippeau sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total transaction of $351,666.00. Following the completion of the sale, the director now owns 72 shares of the company’s stock, valued at $18,085.68. The disclosure for this sale can be found here. 12.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on MAR. Wells Fargo & Company reduced their target price on shares of Marriott International from $250.00 to $248.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. UBS Group upped their price objective on shares of Marriott International from $210.00 to $259.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Barclays upped their price objective on shares of Marriott International from $239.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. Robert W. Baird upped their price objective on shares of Marriott International from $248.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets upped their price objective on shares of Marriott International from $235.00 to $240.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Marriott International currently has a consensus rating of “Hold” and an average target price of $241.33.

Marriott International 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.