Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC reduced its holdings in Marriott International by 11.4% during Q1, selling 1,244 shares, leaving them with 9,639 shares valued at approximately $2.3 million.
• Marriott recently increased its quarterly dividend from $0.63 to $0.67, representing an annual yield of 1.0% and a payout ratio of 30.52%.
• Marriott's stock opened at $262.71 with a market cap of $71.96 billion, and the company reported earnings of $2.65 per share, matching analysts' expectations.

Cary Street Partners Financial LLC lowered its position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 11.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,639 shares of the company's stock after selling 1,244 shares during the quarter. Cary Street Partners Financial LLC's holdings in Marriott International were worth $2,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MAR. 4J Wealth Management LLC boosted its holdings in shares of Marriott International by 3.6% during the 1st quarter. 4J Wealth Management LLC now owns 1,224 shares of the company's stock worth $292,000 after purchasing an additional 43 shares during the last quarter. Obsidian Personal Planning Solutions LLC boosted its stake in Marriott International by 2.2% during the fourth quarter. Obsidian Personal Planning Solutions LLC now owns 2,019 shares of the company's stock worth $587,000 after buying an additional 44 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of Marriott International by 6.6% in the 1st quarter. Harbour Investments Inc. now owns 758 shares of the company's stock worth $180,000 after acquiring an additional 47 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Marriott International by 46.7% during the 1st quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock worth $37,000 after acquiring an additional 50 shares during the period. Finally, Rosenberg Matthew Hamilton grew its holdings in shares of Marriott International by 3.4% in the first quarter. Rosenberg Matthew Hamilton now owns 1,529 shares of the company's stock valued at $364,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 70.70% of the company's stock.

Insider Buying and Selling at Marriott International

In related news, insider Rajeev Menon sold 2,500 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the sale, the insider directly owned 5,706 shares of the company's stock, valued at $1,530,805.68. This represents a 30.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief executive officer directly owned 124,067 shares in the company, valued at $32,741,281.30. The trade was a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock worth $4,107,710 over the last 90 days. Corporate insiders own 10.68% of the company's stock.

Marriott International Stock Performance

Shares of Marriott International stock opened at $262.71 on Thursday. The business has a 50-day simple moving average of $268.91 and a 200-day simple moving average of $261.84. The company has a market cap of $71.96 billion, a PE ratio of 29.62, a P/E/G ratio of 2.49 and a beta of 1.44. Marriott International, Inc. has a one year low of $205.40 and a one year high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, hitting analysts' consensus estimates of $2.65. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.66 billion. Marriott International had a net margin of 9.60% and a negative return on equity of 94.29%. The company's revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 23rd were paid a $0.67 dividend. This is a boost from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, May 23rd. Marriott International's payout ratio is currently 30.52%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MAR. UBS Group decreased their target price on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Truist Financial lowered their price objective on Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a research report on Friday, May 30th. Jefferies Financial Group upgraded Marriott International from a "hold" rating to a "buy" rating and lifted their target price for the company from $226.00 to $303.00 in a research report on Monday, May 12th. Stifel Nicolaus lowered their price target on Marriott International from $295.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. started coverage on shares of Marriott International in a research report on Monday, June 23rd. They issued a "neutral" rating and a $284.00 target price on the stock. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $280.89.

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.

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