Charles Schwab Investment Management Inc. Has $360.83 Million Stake in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Marriott International by 2.5%, owning approximately 0.55% of the company, valued at $360,833,000 as of the latest filing.
• Marriott announced a stock buyback program allowing for the repurchase of 25 million shares, indicating the board's belief that the stock is undervalued.
• The company recently declared a quarterly dividend of $0.67 per share, with an annualized dividend of $2.68 and a dividend yield of 1.0%.

Charles Schwab Investment Management Inc. lifted its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 2.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,514,831 shares of the company's stock after acquiring an additional 37,212 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.55% of Marriott International worth $360,833,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MAR. Bernard Wealth Management Corp. bought a new position in shares of Marriott International during the 4th quarter worth about $25,000. Morse Asset Management Inc bought a new position in shares of Marriott International during the 1st quarter worth about $30,000. Kapitalo Investimentos Ltda bought a new position in Marriott International during the 4th quarter valued at about $34,000. Sound Income Strategies LLC lifted its holdings in Marriott International by 46.7% during the 1st quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock valued at $37,000 after purchasing an additional 50 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new position in Marriott International during the 4th quarter valued at about $38,000. 70.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, 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 transaction of $670,700.00. Following the sale, the insider directly owned 5,706 shares in the company, valued at $1,530,805.68. This trade represents a 30.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Anthony Capuano sold 12,000 shares of the company's stock in a transaction on Friday, May 30th. The stock was 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 directly owned 124,067 shares of the company's stock, valued at approximately $32,741,281.30. The trade was a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on MAR shares. Robert W. Baird lifted their price target on shares of Marriott International from $265.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Stifel Nicolaus cut their price target on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Morgan Stanley cut their price target on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Melius Research raised shares of Marriott International to a "strong-buy" rating in a report on Monday, April 21st. Finally, UBS Group dropped their target price on shares of 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 investment 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $280.89.

Marriott International Stock Up 1.4%

NASDAQ MAR traded up $3.80 during trading on Wednesday, reaching $268.81. 355,111 shares of the stock traded hands, compared to its average volume of 1,714,495. The firm has a market cap of $72.97 billion, a price-to-earnings ratio of 30.30, a price-to-earnings-growth ratio of 2.46 and a beta of 1.44. The stock's 50-day moving average price is $268.73 and its 200 day moving average price is $261.16. Marriott International, Inc. has a fifty-two week low of $205.40 and a fifty-two week high of $307.52.

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

Marriott International declared that its Board of Directors has authorized a share buyback program on Thursday, August 7th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Marriott International Announces Dividend

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

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.