Covea Finance Has $15.83 Million Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Covea Finance raised its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,440 shares of the company's stock after acquiring an additional 5,900 shares during the period. Covea Finance's holdings in Marriott International were worth $15,826,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Marriott International by 2.5% in the 4th quarter. Brighton Jones LLC now owns 8,887 shares of the company's stock worth $2,479,000 after buying an additional 218 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Marriott International by 31.5% in the 4th quarter. Principal Securities Inc. now owns 1,776 shares of the company's stock worth $495,000 after buying an additional 425 shares in the last quarter. Ieq Capital LLC raised its holdings in shares of Marriott International by 18.2% in the 4th quarter. Ieq Capital LLC now owns 17,044 shares of the company's stock worth $4,754,000 after buying an additional 2,624 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Marriott International by 1.9% in the 4th quarter. Handelsbanken Fonder AB now owns 69,883 shares of the company's stock worth $19,493,000 after buying an additional 1,330 shares in the last quarter. Finally, Aspen Investment Management Inc raised its holdings in shares of Marriott International by 40.0% in the 4th quarter. Aspen Investment Management Inc now owns 2,490 shares of the company's stock worth $695,000 after buying an additional 712 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company's stock.

Insider Buying and Selling

In related news, EVP Benjamin T. Breland sold 1,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $270.21, for a total transaction of $270,210.00. Following the sale, the executive vice president now owns 20,724 shares of the company's stock, valued at approximately $5,599,832.04. This trade represents a 4.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony Capuano sold 12,000 shares of the firm's 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 sale, the chief executive officer now directly owns 124,067 shares in the company, valued at $32,741,281.30. The trade was a 8.82% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MAR has been the subject of a number of recent research reports. UBS Group dropped their target price on Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Melius Research upgraded Marriott International to a "strong-buy" rating in a research report on Monday, April 21st. Truist Financial decreased their price target on Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a research report on Friday, May 30th. The Goldman Sachs Group restated a "neutral" rating and set a $245.00 price target (down from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Finally, Stifel Nicolaus decreased their price target on Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Thirteen analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $275.15.

Marriott International Stock Up 1.0%

NASDAQ:MAR opened at $260.19 on Friday. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52. The firm has a market capitalization of $71.27 billion, a P/E ratio of 29.63, a P/E/G ratio of 3.18 and a beta of 1.42. The stock's fifty day simple moving average is $252.89 and its 200-day simple moving average is $263.87.

Marriott International (NASDAQ:MAR - Get Free Report) last posted 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 business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the company earned $2.13 EPS. The firm's revenue was up 4.8% on a year-over-year basis. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 23rd will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, May 23rd. This is an increase from Marriott International's previous quarterly dividend of $0.63. Marriott International's dividend payout ratio (DPR) is presently 30.52%.

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.

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