DAVENPORT & Co LLC Acquires 906 Shares of Marriott International, Inc. (NASDAQ:MAR)

DAVENPORT & Co LLC grew its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 10.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,207 shares of the company's stock after purchasing an additional 906 shares during the quarter. DAVENPORT & Co LLC's holdings in Marriott International were worth $2,193,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Hopwood Financial Services Inc. bought a new position in Marriott International in the 4th quarter worth about $25,000. Bernard Wealth Management Corp. bought a new position in Marriott International in the fourth quarter worth approximately $25,000. Bell Investment Advisors Inc increased its holdings in Marriott International by 112.2% during the 4th quarter. Bell Investment Advisors Inc now owns 104 shares of the company's stock worth $29,000 after purchasing an additional 55 shares during the period. Kapitalo Investimentos Ltda bought a new stake in Marriott International during the 4th quarter valued at $34,000. Finally, Sound Income Strategies LLC grew 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 buying an additional 50 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Marriott International

In related news, CEO Anthony Capuano sold 12,000 shares of the firm's stock in a transaction on Friday, May 30th. The shares were 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 owned 124,067 shares of the company's stock, valued at $32,741,281.30. This trade represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rajeev Menon sold 2,500 shares of the company'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 completion of the sale, the insider directly owned 5,706 shares in the company, valued at approximately $1,530,805.68. The trade was a 30.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,500 shares of company stock worth $4,107,710. Company insiders own 10.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MAR. Barclays lowered their price objective on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Truist Financial lowered their price target on shares of Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a research report on Friday, May 30th. 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 report on Wednesday, May 21st. Morgan Stanley dropped their target price on Marriott International from $275.00 to $267.00 and set an "overweight" 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 boosted their price target for the stock from $226.00 to $303.00 in a research report on Monday, May 12th. Thirteen equities 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $275.90.

Marriott International Trading Up 0.9%

Shares of Marriott International stock opened at $280.08 on Friday. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52. The firm's 50 day simple moving average is $262.62 and its two-hundred day simple moving average is $262.71. The firm has a market capitalization of $76.71 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 3.45 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, beating the consensus estimate of $2.25 by $0.07. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.19 billion. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The firm's revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.13 EPS. On average, sell-side analysts predict that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 23rd were given a dividend of $0.67 per share. The ex-dividend date was Friday, May 23rd. This is a positive change from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a yield of 0.96%. 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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