Citizens Financial Group Inc. RI Grows Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Citizens Financial Group Inc. increased its holdings in Marriott International by 3.7%, owning 45,628 shares valued at approximately $10.87 million at the end of the first quarter.
• Recent insider transactions show that several executives, including CEO Anthony Capuano, sold significant amounts of Marriott stock, leading to noticeable decreases in their ownership percentages.
• Marriott International announced an increased quarterly dividend of $0.67, up from $0.63, representing an annualized dividend yield of 1.0%.

Citizens Financial Group Inc. RI lifted its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,628 shares of the company's stock after purchasing an additional 1,626 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Marriott International were worth $10,869,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Marriott International by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 20,236,478 shares of the company's stock worth $4,820,329,000 after buying an additional 184,387 shares during the last quarter. Capital International Investors increased its stake in Marriott International by 0.3% during the fourth quarter. Capital International Investors now owns 4,720,306 shares of the company's stock worth $1,316,682,000 after acquiring an additional 15,923 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Marriott International by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,507,144 shares of the company's stock valued at $699,345,000 after purchasing an additional 123,484 shares during the period. Northern Trust Corp lifted its stake in shares of 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 during the last quarter. Finally, Fundsmith Investment Services LTD. increased its position in shares of Marriott International by 5.5% during the 4th quarter. Fundsmith Investment Services LTD. now owns 1,504,980 shares of the company's stock valued at $419,799,000 after purchasing an additional 78,770 shares during the last quarter. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group upgraded Marriott International from a "hold" rating to a "buy" rating and raised their price target for the stock from $226.00 to $303.00 in a research report on Monday, May 12th. Barclays lowered their target price 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. Stifel Nicolaus cut their price target on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group reissued a "neutral" rating and issued a $245.00 price objective (down from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Finally, Robert W. Baird boosted their target price on Marriott International from $265.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Twelve 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. Based on data from MarketBeat.com, Marriott International presently has an average rating of "Moderate Buy" and an average price target of $280.89.

Marriott International Trading Down 0.8%

Shares of MAR traded down $2.12 during midday trading on Thursday, reaching $260.59. 1,695,849 shares of the stock were exchanged, compared to its average volume of 1,531,594. The company's 50 day moving average is $268.85 and its two-hundred day moving average is $261.73. The company has a market capitalization of $70.74 billion, a P/E ratio of 29.38, a PEG ratio of 2.51 and a beta of 1.44. Marriott International, Inc. has a 52 week low of $205.40 and a 52 week high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, meeting analysts' consensus estimates of $2.65. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter last year, the firm posted $2.50 EPS. The company's revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, August 21st will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.0%. Marriott International's dividend payout ratio is presently 30.21%.

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

Insider Activity

In other Marriott International news, EVP Benjamin T. Breland sold 1,000 shares of the 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 directly owned 20,724 shares of the company's stock, valued at approximately $5,599,832.04. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony Capuano sold 12,000 shares of Marriott International stock in a transaction that occurred 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 in the company, valued at approximately $32,741,281.30. The trade was a 8.82% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,500 shares of company stock worth $4,107,710. 10.68% of the stock is currently owned by company insiders.

Marriott International 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.