Marriott International, Inc. $MAR Stock Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management trimmed its Marriott stake by 1.1% in the third quarter, selling 4,995 shares; it still held 449,874 shares valued at about $160 million. Institutional investors collectively owned 70.7% of the stock.
• Marriott’s latest quarterly results beat expectations, with EPS of $3.02 versus $2.84 expected and revenue of $7 billion versus $6.93 billion expected; revenue grew 8% year over year. The company declared a $0.73 quarterly dividend, equal to a 0.7% yield.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $399.04, though Freedom Broker downgraded the stock to Hold. Company insiders have also sold shares recently.

Pictet Asset Management Holding SA cut its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 449,874 shares of the company's stock after selling 4,995 shares during the quarter. Pictet Asset Management Holding SA owned about 0.17% of Marriott International worth $160,007,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Pegasus Asset Management Inc. increased its holdings in Marriott International by 25.9% in the third quarter. Pegasus Asset Management Inc. now owns 17,191 shares of the company's stock valued at $6,114,000 after buying an additional 3,536 shares in the last quarter. Guidance Capital Inc. lifted its position in shares of Marriott International by 3.9% during the 3rd quarter. Guidance Capital Inc. now owns 674 shares of the company's stock valued at $240,000 after acquiring an additional 25 shares during the period. United Advisor Group LLC lifted its position in shares of Marriott International by 12.0% during the 3rd quarter. United Advisor Group LLC now owns 661 shares of the company's stock valued at $235,000 after acquiring an additional 71 shares during the period. Waycross Partners LLC purchased a new stake in shares of Marriott International during the 3rd quarter worth approximately $1,556,000. Finally, Alps Advisors Inc. boosted its stake in shares of Marriott International by 2.0% during the 3rd quarter. Alps Advisors Inc. now owns 3,607 shares of the company's stock worth $1,283,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MAR. Deutsche Bank Aktiengesellschaft lowered their price target on Marriott International from $379.00 to $372.00 and set a "hold" rating on the stock in a report on Tuesday, August 4th. BMO Capital Markets reduced their price objective on Marriott International from $410.00 to $395.00 and set an "outperform" rating for the company in a report on Tuesday, August 4th. Barclays boosted their target price on Marriott International from $363.00 to $409.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 3rd. CICC Research initiated coverage on shares of Marriott International in a research report on Wednesday, August 12th. They set an "outperform" rating and a $410.00 target price for the company. Finally, Freedom Broker downgraded shares of Marriott International from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $399.04.

Insiders Place Their Bets

In related news, insider David S. Marriott sold 3,500 shares of the stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $352.09, for a total transaction of $1,232,315.00. Following the transaction, the insider directly owned 282,383 shares in the company, valued at approximately $99,424,230.47. This represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Rena Reiss sold 4,969 shares of the firm's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $423.32, for a total value of $2,103,477.08. Following the completion of the sale, the executive vice president directly owned 38,953 shares in the company, valued at approximately $16,489,583.96. The trade was a 11.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 currently owned by company insiders.

Marriott International Stock Performance

Shares of MAR opened at $416.47 on Monday. Marriott International, Inc. has a 1 year low of $280.99 and a 1 year high of $433.30. The company's 50 day simple moving average is $366.29 and its 200 day simple moving average is $358.15. The company has a market capitalization of $107.24 billion, a price-to-earnings ratio of 41.56, a PEG ratio of 3.07 and a beta of 1.15.

Marriott International (NASDAQ:MAR - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported $3.02 EPS for the quarter, topping the consensus estimate of $2.84 by $0.18. The firm had revenue of $7 billion during the quarter, compared to analysts' expectations of $6.93 billion. Marriott International had a net margin of 9.68% and a negative return on equity of 69.94%. Marriott International's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.47 EPS. Equities analysts expect that Marriott International, Inc. will post 12.10 EPS for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, November 19th will be issued a dividend of $0.73 per share. The ex-dividend date is Thursday, November 19th. This represents a $2.92 annualized dividend and a dividend yield of 0.7%. Marriott International's dividend payout ratio (DPR) is 29.14%.

Key Stories Impacting Marriott International

Here are the key news stories impacting Marriott International this week:

• Positive Sentiment: Marriott declared a quarterly cash dividend of $0.73 per share, payable December 31 to shareholders of record November 19. The annualized dividend is $2.92, a modest income-return component for investors. Marriott dividend announcement
• Positive Sentiment: Recent quarterly results beat analyst estimates for earnings and revenue; a MarketBeat review noted that fee growth outpaced room revenue, supporting the view that Marriott’s performance is not solely dependent on travel demand. Marriott earnings analysis
• Positive Sentiment: Marriott is entering Laos with a Luxury Collection property, extending its international brand presence and potential fee-generating hotel network. Marriott debuts in Laos
• Positive Sentiment: Recent headlines point to bullish views from Robert W. Baird, Barclays and Goldman Sachs, while Zacks characterized MAR as a strong momentum stock. These indicate favorable analyst and trend sentiment, though the provided reports give no price targets or detailed rationale. Baird view Barclays view Goldman Sachs view Zacks momentum article
• Negative Sentiment: CEO Anthony Capuano sold 63,355 shares for about $26.6 million, reducing his direct stake by 55.47%. EVPs Rena Reiss and Benjamin Breland also sold shares. Multiple insider sales can raise investor concern, although the filings alone do not establish the executives’ reasons. CEO SEC filing Rena Reiss SEC filing Benjamin Breland SEC filing
• Negative Sentiment: Freedom Broker downgraded Marriott from “strong buy” to “hold,” tempering the otherwise positive analyst headlines. Freedom Broker ratings

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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