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

Calamos Advisors LLC raised its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 94.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,609 shares of the company's stock after purchasing an additional 11,000 shares during the period. Calamos Advisors LLC's holdings in Marriott International were worth $5,385,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MAR. Hopwood Financial Services Inc. purchased a new position in shares of Marriott International in the fourth quarter worth about $25,000. Bernard Wealth Management Corp. purchased a new position in shares of Marriott International in the fourth quarter worth about $25,000. Bell Investment Advisors Inc lifted its stake in shares of Marriott International by 112.2% in the fourth quarter. Bell Investment Advisors Inc now owns 104 shares of the company's stock worth $29,000 after buying an additional 55 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Marriott International in the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Marriott International in the fourth quarter worth about $38,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Price Performance

Shares of NASDAQ:MAR traded down $2.34 during trading on Monday, hitting $277.69. 152,064 shares of the company were exchanged, compared to its average volume of 1,588,906. The stock has a market capitalization of $76.06 billion, a P/E ratio of 31.70, a PEG ratio of 3.45 and a beta of 1.41. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52. The firm's 50 day moving average price is $262.62 and its 200-day moving average price is $262.50.

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

Marriott International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 23rd were given a dividend of $0.67 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.68 dividend on an annualized basis and a yield of 0.97%. This is an increase from Marriott International's previous quarterly dividend of $0.63. Marriott International's dividend payout ratio is presently 30.52%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MAR. Truist Financial cut their price objective on shares of Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a research report on Friday, May 30th. Morgan Stanley dropped their price target on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. 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 research report on Wednesday, May 7th. Jefferies Financial Group upgraded shares of Marriott International from a "hold" rating to a "buy" rating and lifted their price target for the company from $226.00 to $303.00 in a research report on Monday, May 12th. Finally, Barclays dropped their price target on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Thirteen 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $275.90.

Insiders Place Their Bets

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 completion of the transaction, the chief executive officer owned 124,067 shares in the company, valued at approximately $32,741,281.30. This represents a 8.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rajeev Menon sold 2,500 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total transaction of $670,700.00. Following the completion of the transaction, the insider owned 5,706 shares of the company's stock, valued at $1,530,805.68. This represents 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 worth $4,107,710. 10.68% of the stock is owned by insiders.

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.