Cidel Asset Management Inc. Sells 16,921 Shares of Marriott International, Inc. (NASDAQ:MAR)

Cidel Asset Management Inc. lessened its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 19.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,193 shares of the company's stock after selling 16,921 shares during the quarter. Cidel Asset Management Inc.'s holdings in Marriott International were worth $16,720,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MAR. Hopwood Financial Services Inc. bought a new position in Marriott International in the fourth quarter valued at $25,000. Bernard Wealth Management Corp. bought a new position in shares of Marriott International in the 4th quarter valued at about $25,000. Bell Investment Advisors Inc increased its position in shares of Marriott International by 112.2% in the fourth quarter. Bell Investment Advisors Inc now owns 104 shares of the company's stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Marriott International during the fourth quarter valued at approximately $34,000. Finally, Sound Income Strategies LLC increased its position in shares of Marriott International by 46.7% during the 1st quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock worth $37,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company's stock.

Marriott International Stock Performance

Shares of MAR stock traded down $0.55 during trading on Wednesday, hitting $277.52. The company had a trading volume of 1,086,288 shares, compared to its average volume of 1,592,536. The stock's 50-day moving average price is $259.92 and its 200 day moving average price is $262.75. Marriott International, Inc. has a one year low of $204.55 and a one year high of $307.52. The firm has a market capitalization of $76.01 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 3.43 and a beta of 1.41.

Marriott International (NASDAQ:MAR - Get Free Report) last released its 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 for the quarter, compared to analyst estimates of $6.19 billion. During the same period in the prior year, the firm posted $2.13 EPS. Marriott International's quarterly revenue was up 4.8% on a year-over-year basis. On average, research analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were given a dividend of $0.67 per share. This is a positive change from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.68 annualized dividend and a dividend yield of 0.97%. Marriott International's dividend payout ratio (DPR) is currently 30.52%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus decreased their price objective on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Robert W. Baird upped their target price on shares of Marriott International from $250.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Barclays lowered their price target on Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group raised Marriott International from a "hold" rating to a "buy" rating and raised their price objective for the company from $226.00 to $303.00 in a research report on Monday, May 12th. Thirteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.90.

Insider Buying and Selling at Marriott International

In other news, CEO Anthony Capuano sold 12,000 shares of Marriott International stock in a transaction 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 in the company, valued at approximately $32,741,281.30. This trade represents a 8.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rajeev Menon sold 2,500 shares of Marriott International stock in a transaction dated 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 owned 5,706 shares in the company, valued at approximately $1,530,805.68. This represents a 30.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock worth $4,107,710 over the last three months. Corporate insiders own 10.68% of the company's stock.

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.