Heritage Trust Co Grows Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Heritage Trust Co increased its position in Marriott International, Inc. by 28.8%, owning 6,489 shares worth about $1.55 million as of the last quarter.
• Marriott International announced a quarterly dividend increase to $0.67 per share, reflecting a total annualized dividend of $2.68.
• Various analysts have set a range of target prices for Marriott's stock, with a consensus rating of "Moderate Buy" and an average price target of $280.11.

Heritage Trust Co increased its position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 28.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,489 shares of the company's stock after buying an additional 1,451 shares during the quarter. Heritage Trust Co's holdings in Marriott International were worth $1,546,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Straightline Group LLC acquired a new position in shares of Marriott International in the fourth quarter worth $495,000. Sequoia Financial Advisors LLC grew its stake 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 acquiring an additional 1,432 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Marriott International in the first quarter worth $2,244,000. Alpha Cubed Investments LLC acquired a new position in shares of Marriott International in the first quarter worth $974,000. Finally, Invesco Ltd. grew its stake in shares of Marriott International by 17.4% in the fourth quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock worth $967,662,000 after acquiring an additional 512,963 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. BMO Capital Markets boosted their target price on shares of Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group reiterated a "neutral" rating and set a $245.00 target price (down previously from $313.00) on shares of Marriott International in a research note on Monday, April 14th. Barclays lowered their target price 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. Jefferies Financial Group upgraded shares of Marriott International from a "hold" rating to a "buy" rating and boosted their target price for the stock from $226.00 to $303.00 in a research note on Monday, May 12th. Finally, Robert W. Baird boosted their target price on shares of Marriott International from $265.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Twelve 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $280.11.

Insider Buying and Selling

In related news, insider Rajeev Menon sold 2,500 shares of the firm's stock in a transaction that occurred 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 sale, the insider owned 5,706 shares in the company, valued at approximately $1,530,805.68. This trade represents a 30.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Benjamin T. Breland sold 1,000 shares of the firm's stock in a transaction that occurred 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 owned 20,724 shares in the company, valued at approximately $5,599,832.04. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,500 shares of company stock worth $4,107,710. 10.68% of the stock is owned by insiders.

Marriott International Stock Down 3.2%

Shares of NASDAQ:MAR opened at $255.35 on Friday. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52. The stock's fifty day simple moving average is $269.05 and its 200-day simple moving average is $262.08. The company has a market capitalization of $69.94 billion, a P/E ratio of 29.08, a P/E/G ratio of 2.45 and a beta of 1.44.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its quarterly earnings data 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. 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 the consensus estimate of $6.19 billion. During the same period in the prior year, the business earned $2.13 earnings per share. The business's revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 1.0%. This is an increase 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 30.52%.

Marriott International 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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