Pennington Partners & CO. LLC Makes New Investment in Marriott International, Inc. (NASDAQ:MAR)

Pennington Partners & CO. LLC acquired a new stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,473 shares of the company's stock, valued at approximately $1,806,000. Marriott International comprises 0.9% of Pennington Partners & CO. LLC's holdings, making the stock its 14th largest position.

Other hedge funds also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new position in shares of Marriott International during the fourth quarter valued at approximately $25,000. Bernard Wealth Management Corp. purchased a new position in Marriott International in the 4th quarter valued at $25,000. Bell Investment Advisors Inc boosted its stake in Marriott International by 112.2% during the 4th quarter. Bell Investment Advisors Inc now owns 104 shares of the company's stock worth $29,000 after purchasing an additional 55 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Marriott International by 494.4% in the fourth quarter. Sound Income Strategies LLC now owns 107 shares of the company's stock valued at $30,000 after buying an additional 89 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Marriott International in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 70.70% of the company's stock.

Marriott International Price Performance

Shares of Marriott International stock traded down $2.20 during trading on Monday, hitting $247.27. 1,893,014 shares of the stock were exchanged, compared to its average volume of 1,587,231. The firm's 50-day moving average price is $240.20 and its 200 day moving average price is $266.73. The stock has a market cap of $68.24 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 3.42 and a beta of 1.39. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. As a group, research analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, February 27th were given a $0.63 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.52 annualized dividend and a yield of 1.02%. Marriott International's dividend payout ratio (DPR) is 30.29%.

Insiders Place Their Bets

In related news, CFO Kathleen K. Oberg sold 14,498 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $278.07, for a total value of $4,031,458.86. Following the sale, the chief financial officer now directly owns 14,282 shares in the company, valued at $3,971,395.74. The trade was a 50.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William P. Brown sold 12,642 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $285.63, for a total value of $3,610,934.46. Following the completion of the sale, the insider now owns 30,919 shares in the company, valued at $8,831,393.97. This represents a 29.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,694 shares of company stock valued at $8,938,132. Insiders own 10.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MAR. Susquehanna boosted their price objective on Marriott International from $255.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Evercore ISI upgraded shares of Marriott International from an "in-line" rating to an "outperform" rating and set a $330.00 price objective for the company in a research report on Tuesday, February 4th. Morgan Stanley decreased their target price on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group cut their price target on shares of Marriott International from $295.00 to $226.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, UBS Group raised their target price on Marriott International from $294.00 to $301.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $273.10.

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.