Commonwealth Equity Services LLC Decreases Position in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Commonwealth Equity Services LLC has reduced its holdings in Marriott International by 12.7%, now owning 106,991 shares valued at approximately $25.5 million.
• Several hedge funds increased their positions in Marriott during the last quarter, with Capital International Investors raising its stake by 0.3% and Northern Trust Corp increasing by 16.3%.
• Marriott International announced a quarterly dividend increase to $0.67 per share, representing an annualized payout of $2.68 and a yield of 1.0%.

Commonwealth Equity Services LLC trimmed its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,991 shares of the company's stock after selling 15,515 shares during the quarter. Commonwealth Equity Services LLC's holdings in Marriott International were worth $25,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Capital International Investors raised its stake in Marriott International by 0.3% in the 4th 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 stake in shares of Marriott International by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,507,144 shares of the company's stock worth $699,345,000 after purchasing an additional 123,484 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Marriott International by 16.3% during the fourth quarter. Northern Trust Corp now owns 2,333,994 shares of the company's stock worth $651,044,000 after purchasing an additional 327,415 shares during the period. Fundsmith Investment Services LTD. increased its holdings in Marriott International by 5.5% in the 4th quarter. Fundsmith Investment Services LTD. now owns 1,504,980 shares of the company's stock worth $419,799,000 after buying an additional 78,770 shares during the period. Finally, Fayez Sarofim & Co raised its position in Marriott International by 2.5% during the 4th quarter. Fayez Sarofim & Co now owns 1,047,156 shares of the company's stock worth $296,455,000 after buying an additional 25,469 shares during the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Benjamin T. Breland sold 1,000 shares of the business's 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 transaction, the executive vice president directly owned 20,724 shares in the company, valued at approximately $5,599,832.04. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of the firm'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 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 $32,741,281.30. This trade represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock worth $4,107,710 over the last three months. Insiders own 10.68% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group cut their price objective on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. BMO Capital Markets cut their price target on Marriott International from $285.00 to $280.00 and set a "market perform" rating on the stock in a research report on Wednesday. Mizuho decreased their price objective on Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Jefferies Financial Group raised Marriott International from a "hold" rating to a "buy" rating and raised their target price for the stock from $226.00 to $303.00 in a report on Monday, May 12th. Finally, Morgan Stanley decreased their price target on Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Twelve 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $280.89.

Marriott International Stock Up 1.2%

MAR opened at $262.71 on Thursday. The company has a market cap of $71.96 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 2.49 and a beta of 1.44. Marriott International, Inc. has a twelve month low of $205.40 and a twelve month high of $307.52. The company has a 50-day moving average price of $268.91 and a 200 day moving average price of $261.84.

Marriott International (NASDAQ:MAR - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, meeting the consensus estimate of $2.65. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.66 billion. Marriott International had a negative return on equity of 94.29% and a net margin of 9.60%. During the same quarter last year, the business posted $2.50 earnings per share. The business's quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 23rd were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. Marriott International's dividend payout ratio (DPR) is currently 30.52%.

Marriott International Company 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.

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