Forsta AP Fonden Cuts Position in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Forsta AP Fonden reduced its stake in Marriott International by 29.3%, now holding 46,400 shares valued at approximately $11 million after selling 19,200 shares.
• Marriott International recently declared a quarterly dividend of $0.67 per share, representing an annualized yield of 1.0%, set to be paid on September 30th to investors of record.
• The company also initiated a share repurchase plan allowing for the buyback of 25 million shares, a move typically indicating undervaluation by the company's leadership.

Forsta AP Fonden lessened its position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 29.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,400 shares of the company's stock after selling 19,200 shares during the period. Forsta AP Fonden's holdings in Marriott International were worth $11,052,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its position in shares of Marriott International by 11.9% in the first quarter. Sequoia Financial Advisors LLC now owns 13,441 shares of the company's stock worth $3,202,000 after buying an additional 1,432 shares during the period. Financial Gravity Asset Management Inc. acquired a new stake in shares of Marriott International in the first quarter worth $2,244,000. Alpha Cubed Investments LLC acquired a new stake in shares of Marriott International in the first quarter worth $974,000. Vista Investment Partners II LLC boosted its position in shares of Marriott International by 22.5% in the first quarter. Vista Investment Partners II LLC now owns 7,199 shares of the company's stock worth $1,715,000 after buying an additional 1,322 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Marriott International by 5.0% during the first quarter. Crossmark Global Holdings Inc. now owns 27,087 shares of the company's stock worth $6,452,000 after acquiring an additional 1,301 shares in the last quarter. Institutional investors own 70.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. UBS Group cut their target price on Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. JPMorgan Chase & Co. assumed coverage on Marriott International in a report on Monday, June 23rd. They set a "neutral" rating and a $284.00 price objective on the stock. Melius Research raised Marriott International to a "strong-buy" rating in a report on Monday, April 21st. Mizuho reduced their target price on Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Stifel Nicolaus reduced their target price on Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Marriott International currently has an average rating of "Moderate Buy" and an average price target of $280.89.

Insider Buying and Selling at Marriott International

In other Marriott International news, CEO Anthony Capuano sold 12,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 124,067 shares of the company's stock, valued at approximately $32,741,281.30. This trade represents a 8.82% decrease in their position. The transaction 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 firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total transaction of $670,700.00. Following the transaction, the insider directly owned 5,706 shares in the company, valued at $1,530,805.68. This trade represents a 30.47% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.68% of the company's stock.

Marriott International Stock Up 1.8%

NASDAQ MAR traded up $4.69 on Wednesday, reaching $269.70. The company had a trading volume of 987,287 shares, compared to its average volume of 1,716,008. The stock has a market capitalization of $73.21 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.46 and a beta of 1.44. The firm's 50 day moving average price is $268.73 and its 200 day moving average price is $261.16. Marriott International, Inc. has a 12 month low of $205.40 and a 12 month high of $307.52.

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

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, August 21st will be paid a $0.67 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $2.68 annualized dividend and a dividend yield of 1.0%. Marriott International's dividend payout ratio is currently 30.21%.

Marriott International declared that its Board of Directors has initiated a share repurchase program on Thursday, August 7th that permits the company to repurchase 25,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.