Federated Hermes Inc. Has $138,000 Stake in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Federated Hermes Inc. sold 87.2% of its holdings in Marriott International, reducing its shares to 580, valued at approximately $138,000.
• Marriott's recent earnings report indicated a 12-month revenue growth of 4.7%, with an EPS of $2.65, meeting analysts' expectations.
• The company's board approved a stock repurchase plan allowing for the buyback of 25 million shares, typically seen as a sign of confidence in the company’s valuation.

Federated Hermes Inc. trimmed its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 87.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 580 shares of the company's stock after selling 3,934 shares during the period. Federated Hermes Inc.'s holdings in Marriott International were worth $138,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MAR. Bernard Wealth Management Corp. bought a new position in shares of Marriott International in the 4th quarter valued at approximately $25,000. Morse Asset Management Inc bought a new position in shares of Marriott International in the 1st quarter valued at approximately $30,000. Kapitalo Investimentos Ltda bought a new position in shares of Marriott International in the 4th quarter valued at approximately $34,000. Sound Income Strategies LLC grew its holdings in Marriott International by 46.7% in the 1st quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock valued at $37,000 after buying an additional 50 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in Marriott International in the 4th quarter valued at approximately $38,000. 70.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Stifel Nicolaus lowered their target price on Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird raised their target price on Marriott International from $265.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Morgan Stanley lowered their target price on Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets decreased their price objective on Marriott International from $285.00 to $280.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. Finally, Truist Financial decreased their price objective on Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a report on Friday, May 30th. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marriott International has an average rating of "Moderate Buy" and an average target price of $280.89.

Marriott International Stock Up 1.8%

Shares of MAR stock traded up $4.69 during trading hours on Wednesday, reaching $269.70. The company's stock had a trading volume of 1,038,511 shares, compared to its average volume of 1,719,107. The firm's 50 day simple moving average is $268.73 and its 200-day simple moving average is $261.16. The company has a market capitalization of $73.21 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 2.46 and a beta of 1.44. Marriott International, Inc. has a fifty-two week low of $205.40 and a fifty-two week high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, meeting the consensus estimate of $2.65. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter last year, the business posted $2.50 EPS. Marriott International's revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, August 21st will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $2.68 annualized dividend and a dividend yield of 1.0%. Marriott International's dividend payout ratio (DPR) is 30.21%.

Marriott International declared that its board has initiated a share repurchase plan on Thursday, August 7th that authorizes the company to buyback 25,000,000 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Marriott International

In other news, insider Rajeev Menon sold 2,500 shares of the firm'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 in the company, valued at $1,530,805.68. This trade represents a 30.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Anthony Capuano sold 12,000 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $263.90, for a total value of $3,166,800.00. Following the completion of the sale, the chief executive officer owned 124,067 shares of the company's stock, valued at approximately $32,741,281.30. This represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.68% of the company's stock.

Marriott International Company Profile

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.