Mackenzie Financial Corp Purchases 2,213 Shares of Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Mackenzie Financial Corp increased its stake in Marriott International by 10.4%, acquiring 2,213 additional shares, bringing its total holdings to 23,447 shares valued at $5.58 million.
• Marriott International recently announced a quarterly dividend increase to $0.67 per share, up from $0.63, with an annualized yield of 1.0%.
• Several analysts have revised their price targets for Marriott, with Stifel Nicolaus lowering it from $295.00 to $240.00, while Morgan Stanley revised its target from $275.00 to $267.00.

Mackenzie Financial Corp increased its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 10.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,447 shares of the company's stock after buying an additional 2,213 shares during the quarter. Mackenzie Financial Corp's holdings in Marriott International were worth $5,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of 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 purchasing an additional 218 shares during the period. American Century Companies Inc. grew its position in Marriott International by 0.3% in the fourth quarter. American Century Companies Inc. now owns 26,592 shares of the company's stock valued at $7,418,000 after acquiring an additional 88 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Marriott International during the fourth quarter valued at approximately $6,654,000. World Investment Advisors raised its stake in shares of Marriott International by 101.1% during the fourth quarter. World Investment Advisors now owns 6,392 shares of the company's stock valued at $1,783,000 after purchasing an additional 3,213 shares during the period. Finally, Yoffe Investment Management LLC purchased a new stake in shares of Marriott International during the fourth quarter valued at approximately $206,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Marriott International Trading Up 1.5%

NASDAQ:MAR traded up $3.78 during mid-day trading on Monday, hitting $259.13. 2,056,286 shares of the company's stock traded hands, compared to its average volume of 1,413,228. The firm has a 50 day moving average of $269.05 and a two-hundred day moving average of $261.98. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52. The firm has a market capitalization of $70.98 billion, a price-to-earnings ratio of 29.51, a price-to-earnings-growth ratio of 2.45 and a beta of 1.44.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter last year, the company earned $2.13 EPS. The company's quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts expect that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.68 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Marriott International's previous quarterly dividend of $0.63. Marriott International's payout ratio is 30.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Jefferies Financial Group upgraded Marriott International from a "hold" rating to a "buy" rating and lifted their target price for the stock from $226.00 to $303.00 in a research report on Monday, May 12th. BMO Capital Markets lifted their target price on Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Barclays reduced their price objective on Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. UBS Group reduced their price objective on Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $245.00 price objective (down previously from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Twelve equities 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $280.11.

Insider Activity at Marriott International

In related news, EVP Benjamin T. Breland sold 1,000 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president directly owned 20,724 shares of the company's stock, valued at $5,599,832.04. This trade represents a 4.60% 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 Marriott International stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the sale, the insider directly 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 disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,107,710 in the last three months. Corporate insiders own 10.68% of the company's stock.

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.