Marriott International, Inc. (NASDAQ:MAR) Shares Bought by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Marriott International by 28.6%, acquiring an additional 14,100 shares, bringing its total ownership to 63,338 shares valued at approximately $15.08 million.
• Marriott International reported earnings of $2.32 per share for the recent quarter, surpassing analyst estimates of $2.25, with revenue increasing 4.8% year-over-year to $6.26 billion.
• The company announced a quarterly dividend increase to $0.67 per share, reflecting an annualized dividend of $2.68 and a yield of 0.96%.

Skandinaviska Enskilda Banken AB publ boosted its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 28.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,338 shares of the company's stock after buying an additional 14,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Marriott International were worth $15,079,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MAR. Caliber Wealth Management LLC KS purchased a new stake in shares of Marriott International during the 1st quarter valued at $521,000. Trilogy Capital Inc. increased its position in shares of Marriott International by 36.1% during the 1st quarter. Trilogy Capital Inc. now owns 1,912 shares of the company's stock valued at $455,000 after purchasing an additional 507 shares during the last quarter. Assetmark Inc. increased its position in shares of Marriott International by 30.2% during the 1st quarter. Assetmark Inc. now owns 293 shares of the company's stock valued at $70,000 after purchasing an additional 68 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Marriott International by 16.9% during the 1st quarter. Cetera Investment Advisers now owns 70,395 shares of the company's stock valued at $16,768,000 after purchasing an additional 10,158 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its position in shares of Marriott International by 7.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 8,858 shares of the company's stock valued at $2,110,000 after purchasing an additional 580 shares during the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marriott International

In other news, CEO Anthony Capuano sold 12,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $263.90, for a total value of $3,166,800.00. Following the sale, the chief executive officer directly owned 124,067 shares in the company, valued at approximately $32,741,281.30. This represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Benjamin T. Breland sold 1,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $270.21, for a total value of $270,210.00. Following the completion of the sale, the executive vice president owned 20,724 shares in the company, valued at approximately $5,599,832.04. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,500 shares of company stock worth $4,107,710. 10.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on MAR shares. Jefferies Financial Group upgraded Marriott International from a "hold" rating to a "buy" rating and increased their price target for the stock from $226.00 to $303.00 in a research note on Monday, May 12th. The Goldman Sachs Group reiterated a "neutral" rating and set a $245.00 price target (down previously from $313.00) on shares of Marriott International in a research note on Monday, April 14th. Robert W. Baird increased their price target on Marriott International from $265.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Morgan Stanley cut their price target on Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Mizuho cut their price target on Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Thirteen 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $276.90.

Marriott International Stock Performance

Shares of MAR stock traded down $0.63 during mid-day trading on Wednesday, hitting $272.84. The company's stock had a trading volume of 254,864 shares, compared to its average volume of 1,710,930. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52. The business has a 50-day moving average price of $268.85 and a 200 day moving average price of $262.32. The stock has a market cap of $74.73 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 2.64 and a beta of 1.41.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.07. The business had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.19 billion. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The business's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 earnings per share. Equities research analysts predict that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 23rd were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.98%. This is an increase from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. Marriott International's dividend payout ratio is presently 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.