Callan Family Office LLC Has $578,000 Stake in Marriott International, Inc. (NASDAQ: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 cut its holdings in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 78.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in Marriott International by 23,923.3% in the 1st quarter. GAMMA Investing LLC now owns 731,989 shares of the company's stock worth $174,360,000 after buying an additional 728,942 shares during the period. Nuveen LLC purchased a new position in Marriott International in the 1st quarter valued at $166,059,000. Invesco Ltd. lifted its holdings in Marriott International by 18.9% in the 1st quarter. Invesco Ltd. now owns 4,123,836 shares of the company's stock valued at $982,298,000 after purchasing an additional 654,766 shares in the last quarter. Northern Trust Corp lifted its holdings in Marriott International by 16.3% in the 4th quarter. Northern Trust Corp now owns 2,333,994 shares of the company's stock valued at $651,044,000 after purchasing an additional 327,415 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Marriott International during the 4th quarter worth $88,062,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marriott International

In other news, CEO Anthony Capuano sold 12,000 shares of the 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Rajeev Menon sold 2,500 shares of the firm's stock in a transaction 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 sale, the insider directly owned 5,706 shares of the company's stock, valued at $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.68% of the stock is owned by corporate insiders.

Marriott International Stock Performance

NASDAQ:MAR traded down $1.35 during trading hours on Friday, hitting $265.20. 1,083,449 shares of the company's stock traded hands, compared to its average volume of 1,526,014. The firm has a market cap of $71.99 billion, a P/E ratio of 29.90, a P/E/G ratio of 2.53 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 stock's fifty day moving average price is $269.01 and its two-hundred day moving average price is $260.90.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, hitting the consensus estimate 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 business's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.50 EPS. On average, equities research analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International declared that its board has initiated a stock buyback program on Thursday, August 7th that authorizes the company to repurchase 25,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, August 21st will be paid a dividend of $0.67 per share. 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 presently 30.21%.

Wall Street Analysts Forecast Growth

MAR has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a research report on Friday, May 30th. UBS Group cut their price target on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Mizuho lowered their price objective on Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Morgan Stanley lowered their price target on Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group raised Marriott International from a "hold" rating to a "buy" rating and upped their price target for the company from $226.00 to $303.00 in a report on Monday, May 12th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock 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.