Kayne Anderson Rudnick Investment Management LLC Sells 13,133 Shares of Marriott International, Inc. $MAR

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in Marriott International by 6.8%, now holding approximately 181,288 shares valued at $43.2 million.
• CEO Anthony Capuano sold 12,000 shares for around $3.17 million, decreasing his ownership by 8.82% to 124,067 shares.
• Marriott International initiated a $25 million share repurchase program and declared a quarterly dividend of $0.67, representing a yield of 1.0%.

Kayne Anderson Rudnick Investment Management LLC trimmed its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 6.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,288 shares of the company's stock after selling 13,133 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.07% of Marriott International worth $43,183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAR. Vanguard Group Inc. grew its position in shares of Marriott International by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 20,236,478 shares of the company's stock worth $4,820,329,000 after buying an additional 184,387 shares during the period. Wellington Management Group LLP raised its position in shares of Marriott International by 16.4% in the 1st quarter. Wellington Management Group LLP now owns 5,427,410 shares of the company's stock valued at $1,292,809,000 after acquiring an additional 766,309 shares during the period. Invesco Ltd. grew its holdings in Marriott International by 18.9% during the first quarter. Invesco Ltd. now owns 4,123,836 shares of the company's stock valued at $982,298,000 after purchasing an additional 654,766 shares during the period. Northern Trust Corp raised its holdings in Marriott International by 16.3% in the fourth quarter. Northern Trust Corp now owns 2,333,994 shares of the company's stock worth $651,044,000 after purchasing an additional 327,415 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Marriott International by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,514,831 shares of the company's stock worth $360,833,000 after purchasing an additional 37,212 shares in the last quarter. 70.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

MAR has been the topic of several research analyst reports. Truist Financial dropped their price objective on Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. Mizuho dropped their price target on Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. assumed coverage on Marriott International in a research report on Monday, June 23rd. They issued a "neutral" rating and a $284.00 price objective for the company. Jefferies Financial Group raised Marriott International from a "hold" rating to a "buy" rating and increased their target price for the stock from $226.00 to $303.00 in a research note on Monday, May 12th. Finally, BMO Capital Markets dropped their price objective on shares of Marriott International from $285.00 to $280.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $281.00.

Insider Transactions at Marriott International

In other Marriott International news, CEO Anthony Capuano sold 12,000 shares of Marriott International stock in a transaction on Friday, May 30th. The shares were sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the transaction, the chief executive officer directly owned 124,067 shares of the company's stock, valued at $32,741,281.30. The trade was a 8.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rajeev Menon sold 2,500 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total transaction of $670,700.00. Following the completion of the sale, the insider owned 5,706 shares of the company's stock, valued at approximately $1,530,805.68. The trade was a 30.47% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by insiders.

Marriott International Stock Up 0.7%

MAR traded up $1.82 during midday trading on Wednesday, hitting $269.67. The company had a trading volume of 907,333 shares, compared to its average volume of 1,460,724. The company has a market capitalization of $73.20 billion, a price-to-earnings ratio of 30.40, a PEG ratio of 2.64 and a beta of 1.44. The stock's 50 day moving average price is $269.99 and its 200 day moving average price is $259.42. 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 released its quarterly earnings data on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, meeting the consensus estimate of $2.65. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%.The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter in the previous year, the company posted $2.50 earnings per share. The company'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. Research analysts predict that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, August 21st will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis 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 announced that its Board of Directors has approved a share buyback plan on Thursday, August 7th that allows the company to buyback 25,000,000 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

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.