Banque Cantonale Vaudoise Takes $626,000 Position in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in Marriott International, purchasing 2,628 shares valued at approximately $626,000.
• Marriott International recently announced a quarterly dividend increase to $0.67 per share, up from $0.63, reflecting a positive change in its payout strategy.
• Insider transactions revealed significant selling activity, with insider Rajeev Menon selling 2,500 shares for $670,700, indicating a 30.47% decrease in his ownership in the company.

Banque Cantonale Vaudoise purchased a new stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,628 shares of the company's stock, valued at approximately $626,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bernard Wealth Management Corp. bought a new position in Marriott International during the fourth quarter worth about $25,000. Morse Asset Management Inc bought a new stake in shares of Marriott International in the first quarter worth about $30,000. Kapitalo Investimentos Ltda bought a new position in shares of Marriott International during the 4th quarter valued at about $34,000. Sound Income Strategies LLC increased its stake in Marriott International by 46.7% during the 1st quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock worth $37,000 after purchasing an additional 50 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in Marriott International in the fourth quarter valued at approximately $38,000. 70.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Marriott International

In related news, EVP Benjamin T. Breland sold 1,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the transaction, the executive vice president directly owned 20,724 shares of the company's stock, valued at approximately $5,599,832.04. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rajeev Menon sold 2,500 shares of Marriott International 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 of the company's stock, valued at $1,530,805.68. This trade represents a 30.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock valued at $4,107,710 in the last ninety days. 10.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MAR shares. Robert W. Baird raised their price objective on shares of Marriott International from $265.00 to $285.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Truist Financial reduced their price target on Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a research report on Friday, May 30th. Stifel Nicolaus lowered their price objective on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Mizuho decreased their target price on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, UBS Group cut their price target on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Twelve equities 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 company's stock. According to MarketBeat, Marriott International currently has a consensus rating of "Moderate Buy" and a consensus price target of $280.11.

Marriott International Price Performance

Marriott International stock traded down $8.48 during mid-day trading on Friday, hitting $255.35. 2,496,293 shares of the company's stock traded hands, compared to its average volume of 1,413,228. The firm has a 50 day simple moving average of $269.05 and a two-hundred day simple moving average of $261.98. The stock has a market cap of $69.94 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 2.45 and a beta of 1.44. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52.

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

Marriott International Increases Dividend

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

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.