Banco Santander S.A. Acquires 16,205 Shares of Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Banco Santander S.A. significantly increased its stake in Marriott International by 1,108.4% during the first quarter, acquiring an additional 16,205 shares to bring its total holdings to 17,667 shares valued at approximately $4.2 million.
• Other institutional investors have also shown interest, with 70.70% of Marriott's stock now owned by institutional investors, indicating strong market confidence.
• Marriott recently declared an increased quarterly dividend of $0.67, marking a boost from $0.63 per share, with a current annual yield of 1.0%.

Banco Santander S.A. increased its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 1,108.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,667 shares of the company's stock after purchasing an additional 16,205 shares during the quarter. Banco Santander S.A.'s holdings in Marriott International were worth $4,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Straightline Group LLC bought a new position in shares of Marriott International during the 4th quarter valued at $495,000. Sequoia Financial Advisors LLC lifted its holdings in Marriott International by 11.9% in the first quarter. Sequoia Financial Advisors LLC now owns 13,441 shares of the company's stock valued at $3,202,000 after acquiring an additional 1,432 shares during the period. Financial Gravity Asset Management Inc. bought a new position in Marriott International in the first quarter valued at about $2,244,000. Alpha Cubed Investments LLC bought a new position in shares of Marriott International in the 1st quarter worth approximately $974,000. Finally, Invesco Ltd. lifted its stake in shares of Marriott International by 17.4% in the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock worth $967,662,000 after purchasing an additional 512,963 shares during the period. 70.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Marriott International in a research report on Monday, June 23rd. They issued a "neutral" rating and a $284.00 price target on the stock. BMO Capital Markets raised their target price on Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Dbs Bank raised Marriott International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 14th. UBS Group decreased their price objective on Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Finally, Morgan Stanley decreased their price objective on Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $280.11.

Marriott International Stock Performance

Shares of NASDAQ MAR opened at $255.35 on Friday. The company has a market cap of $69.94 billion, a P/E ratio of 29.08, a P/E/G ratio of 2.45 and a beta of 1.44. The firm's fifty day moving average is $269.05 and its two-hundred day moving average is $262.08. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.07. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.19 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. The business's revenue was up 4.8% compared to the same quarter last year. As a group, analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were given a $0.67 dividend. This is a boost from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, May 23rd. Marriott International's dividend payout ratio (DPR) is presently 30.52%.

Insider Buying and Selling

In other news, EVP Benjamin T. Breland sold 1,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $270.21, for a total value of $270,210.00. Following the sale, the executive vice president directly owned 20,724 shares in the company, valued at $5,599,832.04. The trade was a 4.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rajeev Menon sold 2,500 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total transaction of $670,700.00. Following the completion of the sale, the insider owned 5,706 shares in the company, valued at approximately $1,530,805.68. This trade represents a 30.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,500 shares of company stock worth $4,107,710. Insiders own 10.68% of the company's stock.

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.

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