Marriott International, Inc. (NASDAQ:MAR) Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Marriott International by 18.9%, now owning 1.51% of the company, valued at approximately $982.30 million.
• Marriott reported earnings of $2.65 per share for the last quarter, matching analysts' expectations, and achieved a revenue increase of 4.7% year-over-year.
• The company announced a quarterly dividend of $0.67 per share and initiated a share repurchase program authorizing the buyback of 25 million shares.

Invesco Ltd. boosted its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 18.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,123,836 shares of the company's stock after acquiring an additional 654,766 shares during the period. Invesco Ltd. owned 1.51% of Marriott International worth $982,298,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MAR. Brighton Jones LLC increased its stake in 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 during the period. Envestnet Asset Management Inc. increased its position in Marriott International by 1.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 189,810 shares of the company's stock valued at $52,946,000 after purchasing an additional 3,508 shares during the period. FIL Ltd increased its position in Marriott International by 0.3% during the 4th quarter. FIL Ltd now owns 92,265 shares of the company's stock valued at $25,736,000 after purchasing an additional 289 shares during the period. Renaissance Technologies LLC increased its position in Marriott International by 368.6% during the 4th quarter. Renaissance Technologies LLC now owns 42,716 shares of the company's stock valued at $11,915,000 after purchasing an additional 33,600 shares during the period. Finally, APG Asset Management N.V. increased its position in Marriott International by 0.6% during the 4th quarter. APG Asset Management N.V. now owns 45,782 shares of the company's stock valued at $12,333,000 after purchasing an additional 275 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Mizuho cut their price objective on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Barclays cut their price objective on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. started coverage on shares of Marriott International in a research note on Monday, June 23rd. They issued a "neutral" rating and a $284.00 target price for the company. Morgan Stanley lowered their target price on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus lowered their target price on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $280.89.

Insider Activity

In other Marriott International news, insider Rajeev Menon sold 2,500 shares of the 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 completion of the transaction, the insider owned 5,706 shares of the company's stock, valued at $1,530,805.68. This trade represents a 30.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the sale, the chief executive officer directly owned 124,067 shares in the company, valued at $32,741,281.30. This represents a 8.82% decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.68% of the company's stock.

Marriott International Trading Up 0.7%

MAR traded up $1.79 during midday trading on Wednesday, hitting $266.80. 42,960 shares of the company traded hands, compared to its average volume of 1,712,494. The business has a 50 day simple moving average of $268.73 and a two-hundred day simple moving average of $261.16. The company has a market capitalization of $72.43 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.46 and a beta of 1.44. Marriott International, Inc. has a 52-week low of $205.40 and a 52-week high of $307.52.

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

Marriott International Announces Dividend

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

Marriott International announced that its Board of Directors has initiated a stock buyback program on Thursday, August 7th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's board 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.