Harvest Fund Management Co. Ltd Purchases 1,061 Shares of Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Harvest Fund Management Co. Ltd increased its holdings in Marriott International by 6.5%, acquiring 1,061 additional shares, bringing their total ownership to 17,416 shares valued at approximately $4.15 million.
• Insider sales were reported, with CEO Anthony Capuano selling 12,000 shares and insider Rajeev Menon selling 2,500 shares, indicating significant transactions among company executives.
• Marriott International declared a quarterly dividend increase from $0.63 to $0.67 per share, reflecting a strong commitment to returning value to shareholders despite market fluctuations.

Harvest Fund Management Co. Ltd grew its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,416 shares of the company's stock after buying an additional 1,061 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Marriott International were worth $4,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of MAR. FMR LLC boosted its position in shares of Marriott International by 0.8% during the 4th quarter. FMR LLC now owns 6,973,897 shares of the company's stock worth $1,945,299,000 after acquiring an additional 56,978 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Marriott International by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 5,026,529 shares of the company's stock worth $1,398,321,000 after buying an additional 60,458 shares in the last quarter. Capital International Investors grew its holdings in shares of 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 period. Wellington Management Group LLP grew its holdings in shares of Marriott International by 50.8% in the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock worth $1,300,168,000 after acquiring an additional 1,570,144 shares during the period. Finally, Invesco Ltd. grew its holdings in Marriott International by 17.4% during the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock valued at $967,662,000 after buying an additional 512,963 shares during the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Marriott International news, insider Rajeev Menon sold 2,500 shares of the business'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 transaction, the insider owned 5,706 shares of the company's stock, valued at $1,530,805.68. The trade was a 30.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of the company'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 directly owned 124,067 shares of the company's stock, valued at $32,741,281.30. This represents a 8.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $4,107,710 in the last quarter. Insiders own 10.68% of the company's stock.

Marriott International Price Performance

NASDAQ MAR traded down $3.43 on Wednesday, hitting $270.04. 1,298,460 shares of the stock were exchanged, compared to its average volume of 1,194,897. The company's 50-day moving average price is $269.03 and its two-hundred day moving average price is $262.38. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52. The company has a market capitalization of $73.96 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 2.62 and a beta of 1.41.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.25 by $0.07. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The business had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.19 billion. During the same period in the previous year, the company posted $2.13 EPS. Marriott International's revenue was up 4.8% on a year-over-year basis. Equities analysts predict that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, May 23rd. This is a positive change from Marriott International's previous quarterly dividend of $0.63. Marriott International's payout ratio is presently 30.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MAR. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $245.00 price objective (down previously from $313.00) on shares of Marriott International in a research report on Monday, April 14th. UBS Group decreased their price target on Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Truist Financial decreased their target price on Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a research note on Friday, May 30th. Melius Research raised Marriott International to a "strong-buy" rating in a report on Monday, April 21st. Finally, BMO Capital Markets boosted their target price on Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Thirteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $276.90.

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.