Man Group plc Sells 102,544 Shares of Marriott International, Inc. (NASDAQ:MAR)

Man Group plc trimmed its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 75.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,670 shares of the company's stock after selling 102,544 shares during the quarter. Man Group plc's holdings in Marriott International were worth $9,113,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new stake in Marriott International in the fourth quarter worth $25,000. Bernard Wealth Management Corp. bought a new position in shares of Marriott International during the fourth quarter valued at $25,000. Bell Investment Advisors Inc lifted its holdings in shares of Marriott International by 112.2% during the fourth quarter. Bell Investment Advisors Inc now owns 104 shares of the company's stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Marriott International by 494.4% during the fourth quarter. Sound Income Strategies LLC now owns 107 shares of the company's stock valued at $30,000 after purchasing an additional 89 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Marriott International during the fourth quarter valued at $33,000. 70.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MAR has been the topic of a number of research analyst reports. Jefferies Financial Group raised Marriott International from a "hold" rating to a "buy" rating and upped their price target for the company from $226.00 to $303.00 in a report on Monday, May 12th. Truist Financial reduced their price objective on Marriott International from $308.00 to $300.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Evercore ISI upgraded Marriott International from an "in-line" rating to an "outperform" rating and set a $330.00 price objective for the company in a research report on Tuesday, February 4th. Robert W. Baird upped their price objective on Marriott International from $250.00 to $265.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group reiterated 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. Thirteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $276.50.

Insider Buying and Selling

In other Marriott International news, Director Susan C. Schwab sold 1,054 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $277.48, for a total transaction of $292,463.92. Following the completion of the transaction, the director now owns 4,551 shares in the company, valued at $1,262,811.48. This trade represents a 18.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Benjamin T. Breland sold 1,000 shares of the firm's 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 transaction, the executive vice president now owns 20,724 shares of the company's stock, valued at $5,599,832.04. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by company insiders.

Marriott International Price Performance

Shares of NASDAQ:MAR traded down $2.99 during trading on Friday, hitting $257.70. 1,270,714 shares of the company's stock were exchanged, compared to its average volume of 1,609,410. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52. The business's 50-day simple moving average is $241.30 and its 200 day simple moving average is $266.79. The company has a market cap of $70.58 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 3.42 and a beta of 1.39.

Marriott International (NASDAQ:MAR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.07. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. The firm had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.19 billion. During the same quarter last year, the business posted $2.13 earnings per share. The firm'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 EPS for the current fiscal year.

Marriott International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 23rd will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.68 annualized dividend and a dividend yield of 1.04%. This is a boost from Marriott International's previous quarterly dividend of $0.63. Marriott International's dividend payout ratio (DPR) is currently 30.52%.

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.