Verdence Capital Advisors LLC Trims Stake in Marriott International, Inc. (NASDAQ:MAR)

Verdence Capital Advisors LLC decreased its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 12.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,122 shares of the company’s stock after selling 708 shares during the period. Verdence Capital Advisors LLC’s holdings in Marriott International were worth $1,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bangor Savings Bank increased its position in Marriott International by 131.1% in the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after buying an additional 59 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in Marriott International during the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC purchased a new position in Marriott International during the second quarter valued at approximately $28,000. Silvant Capital Management LLC bought a new position in shares of Marriott International in the third quarter worth approximately $31,000. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Marriott International during the 2nd quarter valued at $35,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Marriott International

In other news, EVP Benjamin T. Breland sold 500 shares of Marriott International stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the completion of the sale, the executive vice president now directly owns 12,286 shares in the company, valued at approximately $3,372,384.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Felitia Lee sold 916 shares of Marriott International stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the sale, the chief accounting officer now owns 5,609 shares of the company’s stock, valued at approximately $1,550,776.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total value of $137,245.00. Following the completion of the transaction, the executive vice president now directly owns 12,286 shares in the company, valued at approximately $3,372,384.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.32% of the stock is owned by company insiders.

Marriott International Stock Performance

NASDAQ:MAR opened at $280.80 on Friday. The stock’s fifty day moving average is $251.24 and its 200 day moving average is $240.26. The firm has a market capitalization of $78.03 billion, a PE ratio of 29.37, a PEG ratio of 6.05 and a beta of 1.58. Marriott International, Inc. has a fifty-two week low of $192.27 and a fifty-two week high of $282.80.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same period in the prior year, the firm posted $2.11 earnings per share. Marriott International’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts forecast that Marriott International, Inc. will post 9.27 EPS for the current year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International’s dividend payout ratio is currently 26.36%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MAR shares. Mizuho increased their price target on Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. TD Cowen lowered their price target on Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Bank of America increased their price objective on shares of Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 21st. Barclays boosted their target price on shares of Marriott International from $240.00 to $249.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $259.00.

About Marriott International

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.