Callan Family Office LLC Sells 9,009 Shares of Marriott International, Inc. $MAR

Key Points

• Callan Family Office LLC significantly reduced its stake in Marriott International by 78.8%, selling 9,009 shares and retaining just 2,425 shares valued at $578,000.
• Marriott International recently reported earnings of $2.65 per share, meeting analyst expectations, with revenue rising 4.7% year-over-year to $6.74 billion.
• The company has authorized a **share repurchase plan** of 25 million shares, signaling that its board views the stock as undervalued, and also announced a quarterly dividend of **$0.67 per share**.

Callan Family Office LLC reduced its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 78.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,425 shares of the company's stock after selling 9,009 shares during the quarter. Callan Family Office LLC's holdings in Marriott International were worth $578,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Sequoia Financial Advisors LLC grew its stake in Marriott International by 11.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,441 shares of the company's stock valued at $3,202,000 after acquiring an additional 1,432 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in shares of Marriott International during the first quarter worth $2,244,000. Alpha Cubed Investments LLC purchased a new stake in shares of Marriott International during the first quarter worth $974,000. Vista Investment Partners II LLC boosted its position in shares of Marriott International by 22.5% during the 1st 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. lifted its holdings in shares of Marriott International by 5.0% during the first quarter. Crossmark Global Holdings Inc. now owns 27,087 shares of the company's stock worth $6,452,000 after purchasing an additional 1,301 shares during the period. Hedge funds and other institutional investors own 70.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MAR shares. Robert W. Baird lifted their price objective on Marriott International from $265.00 to $285.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. assumed coverage on Marriott International in a report on Monday, June 23rd. They set a "neutral" rating and a $284.00 price objective on the stock. Barclays dropped their price target on Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Melius Research raised Marriott International to a "strong-buy" rating in a report on Monday, April 21st. Finally, UBS Group lowered their target price on Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $280.89.

Insider Activity at Marriott International

In other news, CEO Anthony Capuano sold 12,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $263.90, for a total value of $3,166,800.00. Following the transaction, the chief executive officer 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 document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the transaction, the insider directly owned 5,706 shares in the company, 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. 10.68% of the stock is currently owned by corporate insiders.

Marriott International Trading Up 0.3%

Shares of Marriott International stock traded up $0.73 during trading on Monday, reaching $265.93. The stock had a trading volume of 381,291 shares, compared to its average volume of 1,702,701. The company has a market capitalization of $72.19 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 2.53 and a beta of 1.44. The stock has a fifty day moving average price of $269.01 and a two-hundred day moving average price of $260.48. Marriott International, Inc. has a 52 week low of $205.40 and a 52 week high of $307.52.

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

Marriott International Announces Dividend

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

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

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.