Calamos Advisors LLC Raises Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Calamos Advisors LLC raised its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 94.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,609 shares of the company's stock after acquiring an additional 11,000 shares during the quarter. Calamos Advisors LLC's holdings in Marriott International were worth $5,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of MAR. Norges Bank purchased a new position in shares of Marriott International during the 4th quarter valued at $580,922,000. Wellington Management Group LLP lifted its stake in shares of Marriott International by 50.8% during the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock valued at $1,300,168,000 after buying an additional 1,570,144 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Marriott International by 23,923.3% during the 1st quarter. GAMMA Investing LLC now owns 731,989 shares of the company's stock valued at $174,360,000 after buying an additional 728,942 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Marriott International in the 4th quarter valued at $165,162,000. Finally, Invesco Ltd. increased its holdings in Marriott International by 17.4% in the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock valued at $967,662,000 after acquiring an additional 512,963 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MAR shares. JPMorgan Chase & Co. started coverage on shares of Marriott International in a report on Monday, June 23rd. They issued a "neutral" rating and a $284.00 price target on the stock. Robert W. Baird lifted their price target on shares of Marriott International from $250.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $245.00 price target (down from $313.00) on shares of Marriott International in a report on Monday, April 14th. Jefferies Financial Group upgraded shares of Marriott International from a "hold" rating to a "buy" rating and boosted their target price for the stock from $226.00 to $303.00 in a report on Monday, May 12th. Finally, UBS Group reduced their target price on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Thirteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $275.90.

Insider Transactions at Marriott International

In other news, EVP Benjamin T. Breland sold 1,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $270.21, for a total value of $270,210.00. Following the completion of the sale, the executive vice president owned 20,724 shares of the company's stock, valued at approximately $5,599,832.04. This represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rajeev Menon sold 2,500 shares of the company's stock in a transaction that occurred on 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 directly owned 5,706 shares of the company's stock, valued at $1,530,805.68. The trade was a 30.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,500 shares of company stock valued at $4,107,710. Company insiders own 10.68% of the company's stock.

Marriott International Price Performance

MAR stock traded up $2.56 during mid-day trading on Friday, reaching $280.08. The company had a trading volume of 623,225 shares, compared to its average volume of 1,594,533. The company has a market capitalization of $76.71 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 3.45 and a beta of 1.41. The firm has a 50 day moving average of $262.62 and a 200 day moving average of $262.61. 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 earnings results on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.07. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 EPS. Analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 23rd were given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from Marriott International's previous quarterly dividend of $0.63. Marriott International's dividend payout ratio is presently 30.52%.

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.