Marriott International, Inc. $MAR Stake Trimmed by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services cut its Marriott stake by 13.1% in the third quarter, selling 10,881 shares; it held 72,332 shares valued at about $25.7 million at quarter-end.
• Marriott beat quarterly earnings expectations, reporting EPS of $3.02 versus analysts’ $2.84 estimate and revenue of $7 billion, up 8% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $399.04. Marriott also declared a quarterly dividend of $0.73 per share.

Commonwealth Equity Services LLC lowered its holdings in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 13.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,332 shares of the company's stock after selling 10,881 shares during the period. Commonwealth Equity Services LLC's holdings in Marriott International were worth $25,726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Marriott International by 2.9% in the second quarter. State Street Corp now owns 9,644,773 shares of the company's stock worth $3,574,256,000 after buying an additional 272,044 shares in the last quarter. Jupiter Topco LLC bought a new stake in Marriott International in the 2nd quarter valued at $81,872,000. William Blair Investment Management LLC lifted its stake in Marriott International by 255.5% in the 2nd quarter. William Blair Investment Management LLC now owns 300,872 shares of the company's stock worth $111,500,000 after purchasing an additional 216,241 shares in the last quarter. Danske Bank A S lifted its stake in Marriott International by 170.4% in the 2nd quarter. Danske Bank A S now owns 326,743 shares of the company's stock worth $121,088,000 after purchasing an additional 205,886 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Marriott International during the 3rd quarter valued at about $65,604,000. Institutional investors and hedge funds own 70.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MAR shares. Stifel Nicolaus set a $402.00 price objective on Marriott International in a research report on Monday, November 2nd. Argus cut their price target on Marriott International from $445.00 to $425.00 and set a "buy" rating for the company in a report on Friday, August 14th. Citigroup lifted their price objective on Marriott International from $365.00 to $450.00 and gave the stock a "neutral" rating in a research note on Friday. Truist Financial upped their price objective on Marriott International from $356.00 to $360.00 and gave the stock a "hold" rating in a report on Thursday, September 10th. Finally, China Intl Cap upgraded Marriott International to a "strong-buy" rating in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $399.04.

Insiders Place Their Bets

In other news, insider David Marriott sold 3,500 shares of the firm's stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $352.09, for a total value of $1,232,315.00. Following the transaction, the insider owned 282,383 shares in the company, valued at $99,424,230.47. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Benjamin Breland sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $423.32, for a total value of $1,058,300.00. Following the sale, the executive vice president owned 23,899 shares of the company's stock, valued at $10,116,924.68. The trade was a 9.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 77,824 shares of company stock valued at $32,243,110. 11.43% of the stock is owned by corporate insiders.

Marriott International Price Performance

NASDAQ:MAR opened at $417.16 on Tuesday. The company has a 50 day moving average price of $367.61 and a 200-day moving average price of $358.63. Marriott International, Inc. has a 1-year low of $280.99 and a 1-year high of $433.30. The firm has a market cap of $107.42 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 3.14 and a beta of 1.15.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The company reported $3.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $0.18. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.93 billion. Marriott International had a net margin of 9.68% and a negative return on equity of 69.94%. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.47 earnings per share. On average, sell-side analysts anticipate that Marriott International, Inc. will post 12.10 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, November 19th will be issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 0.7%. Marriott International's dividend payout ratio is presently 29.14%.

Marriott International Profile

Marriott International is a global lodging company that manages, franchises, and licenses hotels, resorts, and other accommodations. Its portfolio spans luxury, premium, select-service, and extended-stay brands, including The Ritz-Carlton, St. Regis, W Hotels, Marriott, Sheraton, Courtyard, Residence Inn, and Moxy.

The company traces its origins to a root beer stand opened by J. Willard and Alice Marriott in Washington, DC, in 1927. It entered the lodging business in the 1950s and is headquartered in Bethesda, Maryland.

Marriott serves travelers in countries and territories around the world and offers the Marriott Bonvoy loyalty program.

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