BayBridge Capital Group LLC cut its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 65.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,776 shares of the company's stock after selling 3,406 shares during the period. BayBridge Capital Group LLC's holdings in Marriott International were worth $423,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Marriott International during the 4th quarter valued at $580,922,000. Wellington Management Group LLP raised its position in Marriott International by 50.8% in the fourth quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock valued at $1,300,168,000 after purchasing an additional 1,570,144 shares during the period. GAMMA Investing LLC grew its stake in shares of Marriott International by 23,923.3% in the first quarter. GAMMA Investing LLC now owns 731,989 shares of the company's stock valued at $174,360,000 after buying an additional 728,942 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Marriott International during the 4th quarter valued at about $165,162,000. Finally, Invesco Ltd. lifted its position in Marriott International by 17.4% during the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock worth $967,662,000 after acquiring an additional 512,963 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.
Marriott International Stock Up 0.5%
Shares of NASDAQ:MAR traded up $1.33 on Wednesday, reaching $257.53. 1,136,256 shares of the company's stock were exchanged, compared to its average volume of 1,781,951. The business's 50-day moving average is $251.02 and its two-hundred day moving average is $264.28. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52. The firm has a market capitalization of $70.54 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 3.19 and a beta of 1.42.
Marriott International (NASDAQ:MAR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.25 by $0.07. The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. Marriott International's revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $2.13 earnings per share. Analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.
Marriott International Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 23rd will be given a $0.67 dividend. The ex-dividend date is Friday, May 23rd. This is a positive change from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a yield of 1.04%. Marriott International's dividend payout ratio (DPR) is currently 30.52%.
Insider Activity at Marriott International
In related news, CEO Anthony Capuano sold 12,000 shares of the firm's stock in a transaction that occurred 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 now owns 124,067 shares in the company, valued at $32,741,281.30. This trade represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Benjamin T. Breland sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $270.21, for a total transaction of $270,210.00. Following the completion of the transaction, the executive vice president now directly owns 20,724 shares of the company's stock, valued at $5,599,832.04. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research firms have recently issued reports on MAR. Barclays dropped their price objective on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial cut their price objective on shares of Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a report on Friday, May 30th. Dbs Bank upgraded Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Stifel Nicolaus dropped their target price on Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Finally, Robert W. Baird raised their price objective on Marriott International from $250.00 to $265.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Thirteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $275.15.
Read Our Latest Report on MAR
Marriott International Profile
(
Free Report)
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.
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