Canoe Financial LP Raises Stake in Marriott International, Inc. (NASDAQ:MAR)

Canoe Financial LP lifted its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,206 shares of the company's stock after buying an additional 9,160 shares during the period. Canoe Financial LP's holdings in Marriott International were worth $25,060,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Hopwood Financial Services Inc. purchased a new stake in Marriott International during the 4th quarter valued at $25,000. Bernard Wealth Management Corp. purchased a new stake in Marriott International during the 4th quarter valued at $25,000. Bell Investment Advisors Inc boosted its position in Marriott International by 112.2% during the 4th quarter. Bell Investment Advisors Inc now owns 104 shares of the company's stock valued at $29,000 after buying an additional 55 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in Marriott International during the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in Marriott International during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 70.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group dropped their price target 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. Barclays decreased their price objective on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Dbs Bank upgraded shares of Marriott International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 14th. Jefferies Financial Group upgraded shares of Marriott International from a "hold" rating to a "buy" rating and upped their price objective for the stock from $226.00 to $303.00 in a report on Monday, May 12th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $245.00 price objective (down from $313.00) on shares of Marriott International in a report on Monday, April 14th. Thirteen equities 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $275.15.

Marriott International Stock Up 1.0%

Shares of NASDAQ MAR traded up $2.66 during trading on Friday, reaching $260.19. 2,244,292 shares of the company traded hands, compared to its average volume of 1,600,239. The firm has a 50 day simple moving average of $252.89 and a 200-day simple moving average of $263.69. The stock has a market capitalization of $71.27 billion, a PE ratio of 29.63, a P/E/G ratio of 3.21 and a beta of 1.42. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $0.07. The firm 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 business's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 EPS. As a group, research analysts predict that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 23rd will be issued a $0.67 dividend. This is an increase from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.03%. Marriott International's dividend payout ratio (DPR) is presently 30.52%.

Insider Buying and Selling

In other Marriott International news, CEO Anthony Capuano sold 12,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 124,067 shares in the company, valued at approximately $32,741,281.30. This trade represents a 8.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Benjamin T. Breland sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $270.21, for a total transaction of $270,210.00. Following the sale, the executive vice president now owns 20,724 shares in the company, valued at approximately $5,599,832.04. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by insiders.

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.