Canoe Financial LP Acquires 9,160 Shares of Marriott International, Inc. (NASDAQ:MAR)

Canoe Financial LP increased its holdings in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 9.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,206 shares of the company's stock after purchasing an additional 9,160 shares during the period. Canoe Financial LP's holdings in Marriott International were worth $25,060,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MAR. Wescott Financial Advisory Group LLC grew its stake in Marriott International by 0.6% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 5,554 shares of the company's stock valued at $1,549,000 after buying an additional 35 shares during the last quarter. Meridian Wealth Management LLC grew its position in shares of Marriott International by 0.9% in the fourth quarter. Meridian Wealth Management LLC now owns 4,750 shares of the company's stock valued at $1,325,000 after purchasing an additional 42 shares during the last quarter. Obsidian Personal Planning Solutions LLC lifted its position in shares of Marriott International by 2.2% during the 4th quarter. Obsidian Personal Planning Solutions LLC now owns 2,019 shares of the company's stock worth $587,000 after purchasing an additional 44 shares during the last quarter. Flputnam Investment Management Co. grew its holdings in Marriott International by 4.8% in the 4th quarter. Flputnam Investment Management Co. now owns 1,101 shares of the company's stock valued at $307,000 after buying an additional 50 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in shares of Marriott International by 2.4% during the fourth quarter. Lindbrook Capital LLC now owns 2,138 shares of the company's stock worth $596,000 after buying an additional 50 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors.

Insider Transactions at Marriott International

In related news, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the completion of the sale, the executive vice president now owns 20,724 shares of the company's stock, valued at approximately $5,599,832.04. The trade was a 4.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of the business'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 sale, the chief executive officer now owns 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 disclosure for this sale can be found here. Company insiders own 10.68% of the company's stock.

Marriott International Stock Performance

Marriott International stock traded up $4.62 during trading hours on Tuesday, reaching $268.73. 1,505,704 shares of the company's stock traded hands, compared to its average volume of 1,600,374. The firm's 50 day moving average is $253.70 and its 200-day moving average is $263.29. The firm has a market capitalization of $73.60 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 3.21 and a beta of 1.42. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two 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, topping the consensus estimate of $2.25 by $0.07. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the prior year, the company earned $2.13 earnings per share. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts predict 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 will be paid on Monday, June 30th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, May 23rd. This is a boost from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a yield of 1.00%. Marriott International's payout ratio is 30.52%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MAR. UBS Group dropped their target price on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Truist Financial reduced their target price on shares of Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a research note on Friday, May 30th. JPMorgan Chase & Co. began coverage on Marriott International in a report on Monday. They issued a "neutral" rating and a $284.00 price target for the company. Robert W. Baird lifted their price objective on Marriott International from $250.00 to $265.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Barclays reduced their target price on 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 equities research 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $275.90.

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.