First Manhattan CO. LLC. Sells 1,052 Shares of Marriott International, Inc. $MAR

Key Points

• First Manhattan CO. LLC reduced its stake in Marriott International by 0.2%, now holding approximately 549,089 shares valued at $130.8 million.
• Marriott International initiated a stock buyback plan to repurchase 25 million shares, indicating the board's belief that the stock is undervalued.
• The company declared a quarterly dividend of $0.67 per share, with a yield of 1.0%, and a payout ratio of 30.21%.

First Manhattan CO. LLC. cut its holdings in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 549,089 shares of the company's stock after selling 1,052 shares during the period. First Manhattan CO. LLC. owned 0.20% of Marriott International worth $130,793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its holdings in Marriott International by 11.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,441 shares of the company's stock valued at $3,202,000 after purchasing an additional 1,432 shares during the period. Financial Gravity Asset Management Inc. bought a new position in Marriott International in the 1st quarter valued at $2,244,000. Alpha Cubed Investments LLC bought a new position in Marriott International in the 1st quarter valued at $974,000. Vista Investment Partners II LLC boosted its holdings in Marriott International by 22.5% in the 1st quarter. Vista Investment Partners II LLC now owns 7,199 shares of the company's stock valued at $1,715,000 after purchasing an additional 1,322 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in Marriott International by 5.0% in the 1st quarter. Crossmark Global Holdings Inc. now owns 27,087 shares of the company's stock valued at $6,452,000 after purchasing an additional 1,301 shares during the period. 70.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MAR. BMO Capital Markets dropped their price objective on shares of Marriott International from $285.00 to $280.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. UBS Group lowered their price target on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Jefferies Financial Group raised shares of Marriott International from a "hold" rating to a "buy" rating and boosted their price target for the stock from $226.00 to $303.00 in a research note on Monday, May 12th. Mizuho decreased 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. Finally, JPMorgan Chase & Co. initiated coverage on shares of Marriott International in a report on Monday, June 23rd. They issued a "neutral" rating and a $284.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $281.26.

Insider Activity

In other news, insider Rajeev Menon sold 2,500 shares of the company'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 value of $670,700.00. Following the transaction, the insider owned 5,706 shares in the company, valued at approximately $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 10.68% of the company's stock.

Marriott International Price Performance

NASDAQ:MAR traded up $3.78 during mid-day trading on Thursday, hitting $268.85. 1,232,385 shares of the company's stock were exchanged, compared to its average volume of 1,667,111. Marriott International, Inc. has a one year low of $205.40 and a one year high of $307.52. The business has a fifty day moving average price of $270.37 and a 200 day moving average price of $258.60. The company has a market cap of $72.98 billion, a PE ratio of 30.31, a P/E/G ratio of 2.64 and a beta of 1.38.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, hitting the consensus estimate of $2.65. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the previous year, the firm posted $2.50 earnings per share. Marriott International's quarterly revenue was up 4.7% on a year-over-year basis. Marriott International has set its FY 2025 guidance at 9.850-10.080 EPS. Q3 2025 guidance at 2.310-2.390 EPS. On average, equities analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Dividend Announcement

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

Marriott International declared that its Board of Directors has initiated a stock repurchase program on Thursday, August 7th that permits the company to repurchase 25,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is 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.