Marriott International, Inc. (NASDAQ:MAR) Holdings Boosted by Lazard Freres Gestion S.A.S.

Key Points

• Lazard Freres Gestion S.A.S. increased its stake in Marriott International by 106.9%, acquiring 74,406 additional shares to reach a total of 143,989 shares valued at approximately $34.3 million.
• Marriott's stock has a market cap of $76.45 billion and the company reported quarterly earnings of $2.32 per share, exceeding the consensus estimate by $0.07.
• The company recently raised its quarterly dividend from $0.63 to $0.67, resulting in an annualized yield of 0.96%.

Lazard Freres Gestion S.A.S. grew its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 106.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,989 shares of the company's stock after buying an additional 74,406 shares during the quarter. Lazard Freres Gestion S.A.S. owned 0.05% of Marriott International worth $34,298,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Straightline Group LLC bought a new position in shares of Marriott International during the 4th quarter valued at approximately $495,000. Sequoia Financial Advisors LLC increased its position in 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 last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of Marriott International during the 1st quarter valued at $2,244,000. Alpha Cubed Investments LLC purchased a new stake in Marriott International in the 1st quarter worth about $974,000. Finally, Invesco Ltd. raised its stake in Marriott International by 17.4% in the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock valued at $967,662,000 after acquiring an additional 512,963 shares during the period. Institutional investors and hedge funds own 70.70% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on MAR. Dbs Bank upgraded shares of Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Robert W. Baird raised their target price on Marriott International from $265.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Barclays lowered their price target on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. began coverage on shares of Marriott International in a research note on Monday, June 23rd. They set a "neutral" rating and a $284.00 price objective for the company. Finally, Jefferies Financial Group raised shares of Marriott International from a "hold" rating to a "buy" rating and raised their price target for the company from $226.00 to $303.00 in a report on Monday, May 12th. Thirteen 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $276.90.

Marriott International Trading Down 1.9%

NASDAQ:MAR traded down $5.10 on Thursday, reaching $264.94. 827,577 shares of the stock traded hands, compared to its average volume of 1,711,876. The company has a market capitalization of $72.57 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 2.62 and a beta of 1.41. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52. The company's fifty day simple moving average is $269.03 and its 200 day simple moving average is $262.38.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.19 billion. During the same period last year, the company posted $2.13 earnings per share. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 23rd were paid a $0.67 dividend. This is a positive change from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, May 23rd. Marriott International's payout ratio is currently 30.52%.

Insider Activity at Marriott International

In other news, insider Rajeev Menon sold 2,500 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total value of $670,700.00. Following the sale, the insider owned 5,706 shares in the company, valued at approximately $1,530,805.68. This represents a 30.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $270.21, for a total value of $270,210.00. Following the completion of the transaction, the executive vice president owned 20,724 shares of the company's stock, valued at approximately $5,599,832.04. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,500 shares of company stock worth $4,107,710. 10.68% of the stock is currently owned by corporate insiders.

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.