Blair William & Co. IL Sells 2,588 Shares of Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Blair William & Co. IL has reduced its stake in Marriott International by 7.3%, selling 2,588 shares and now holds 32,731 shares worth approximately $7.8 million.
• Major investors recently increased their stakes in Marriott, with GAMMA Investing LLC boosting its holdings by an astounding 23,923.3% in the first quarter.
• Marriott International's most recent quarterly earnings met expectations with an EPS of $2.65 and the company also raised its dividend to $0.67 per share, reflecting a positive trend for shareholders.

Blair William & Co. IL reduced its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 7.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 32,731 shares of the company's stock after selling 2,588 shares during the period. Blair William & Co. IL's holdings in Marriott International were worth $7,796,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Heritage Trust Co boosted its stake in Marriott International by 28.8% in the first quarter. Heritage Trust Co now owns 6,489 shares of the company's stock valued at $1,546,000 after acquiring an additional 1,451 shares during the last quarter. Manchester Capital Management LLC boosted its position in shares of Marriott International by 6.7% in the 1st quarter. Manchester Capital Management LLC now owns 2,014 shares of the company's stock worth $480,000 after purchasing an additional 127 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of Marriott International by 211.9% during the first quarter. Bank of Nova Scotia now owns 81,708 shares of the company's stock worth $19,463,000 after purchasing an additional 55,511 shares during the period. Banco Santander S.A. lifted its stake in Marriott International by 1,108.4% in the first quarter. Banco Santander S.A. now owns 17,667 shares of the company's stock valued at $4,208,000 after buying an additional 16,205 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Marriott International by 1.0% during the first quarter. PNC Financial Services Group Inc. now owns 448,063 shares of the company's stock worth $106,729,000 after buying an additional 4,396 shares during the last quarter. Institutional investors own 70.70% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets cut their price target on shares of Marriott International from $285.00 to $280.00 and set a "market perform" rating on the stock in a research report on Wednesday. Stifel Nicolaus cut their target price 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. Robert W. Baird boosted their price target on shares of Marriott International from $265.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Truist Financial dropped their price objective on Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. Finally, Dbs Bank raised Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Marriott International currently has an average rating of "Moderate Buy" and a consensus price target of $280.89.

Marriott International Price Performance

NASDAQ:MAR traded down $2.12 during trading hours on Thursday, reaching $260.59. 1,695,849 shares of the stock were exchanged, compared to its average volume of 1,531,594. The stock has a market cap of $70.74 billion, a PE ratio of 29.38, a PEG ratio of 2.51 and a beta of 1.44. Marriott International, Inc. has a twelve month low of $205.40 and a twelve month high of $307.52. The firm has a 50 day moving average of $268.85 and a 200 day moving average of $261.73.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, hitting the consensus estimate of $2.65. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The business had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.66 billion. During the same quarter in the prior year, the company posted $2.50 earnings per share. The firm's revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, August 21st will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 1.0%. Marriott International's dividend payout ratio (DPR) is presently 30.21%.

Marriott International declared that its board has approved a share repurchase program on Thursday, August 7th that allows the company to buyback 25,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Insider Activity at Marriott International

In other Marriott International news, CEO Anthony Capuano sold 12,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the sale, the chief executive officer directly owned 124,067 shares of the company's stock, valued at approximately $32,741,281.30. This represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Benjamin T. Breland sold 1,000 shares of Marriott International 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 completion of 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,500 shares of company stock valued at $4,107,710. Insiders own 10.68% of the company's stock.

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, City Express by Marriott, and St.