Caitong International Asset Management Co. Ltd Invests $278,000 in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Caitong International Asset Management Co. Ltd invested $278,000 in Marriott International, purchasing 1,168 shares during the first quarter.
• Marriott International authorized a stock buyback plan allowing the buyback of up to 25 million shares, indicating confidence in the company's valuation.
• The company's quarterly earnings per share met analyst estimates, reporting $6.74 billion in revenue, which was above the anticipated $6.66 billion.

Caitong International Asset Management Co. Ltd purchased a new position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,168 shares of the company's stock, valued at approximately $278,000.

Other hedge funds also recently modified their holdings of the company. Sequoia Financial Advisors LLC increased its position in shares of Marriott International by 11.9% during the first quarter. Sequoia Financial Advisors LLC now owns 13,441 shares of the company's stock worth $3,202,000 after acquiring an additional 1,432 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in Marriott International in the 1st quarter worth about $2,244,000. Alpha Cubed Investments LLC purchased a new position in Marriott International in the first quarter valued at about $974,000. Vista Investment Partners II LLC boosted its stake in Marriott International by 22.5% in the first quarter. Vista Investment Partners II LLC now owns 7,199 shares of the company's stock valued at $1,715,000 after acquiring an additional 1,322 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in Marriott International by 5.0% in the first quarter. Crossmark Global Holdings Inc. now owns 27,087 shares of the company's stock valued at $6,452,000 after acquiring an additional 1,301 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company's stock.

Marriott International Price Performance

Shares of MAR opened at $265.01 on Wednesday. The company has a market cap of $71.94 billion, a P/E ratio of 29.88, a PEG ratio of 2.46 and a beta of 1.44. The stock has a fifty day moving average price of $268.73 and a 200 day moving average price of $261.16. Marriott International, Inc. has a 12 month low of $205.40 and a 12 month high of $307.52.

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

Marriott International announced that its board has authorized a stock buyback plan on Thursday, August 7th that permits the company to buyback 25,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

Marriott International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, August 21st will be given a $0.67 dividend. The ex-dividend date is Thursday, August 21st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.0%. Marriott International's dividend payout ratio (DPR) is currently 30.21%.

Insider Buying and Selling

In related news, insider Rajeev Menon sold 2,500 shares of the company'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 sale, the insider owned 5,706 shares in the company, valued at approximately $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Capuano sold 12,000 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $263.90, for a total value of $3,166,800.00. Following the completion of the sale, the chief executive officer owned 124,067 shares in the company, valued at approximately $32,741,281.30. This trade represents a 8.82% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MAR shares. BMO Capital Markets dropped 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 note on Wednesday, August 6th. Stifel Nicolaus cut their price target 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. UBS Group dropped their target price on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. JPMorgan Chase & Co. began coverage on shares of Marriott International in a research report on Monday, June 23rd. They set a "neutral" rating and a $284.00 price target for the company. Finally, Melius Research raised shares of Marriott International to a "strong-buy" rating in a report on Monday, April 21st. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Marriott International presently has a consensus rating of "Moderate Buy" and a consensus price target of $280.89.

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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