Folger Nolan Fleming Douglas Capital Management Inc. Cuts Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,817 shares of the company's stock after selling 1,173 shares during the quarter. Marriott International comprises approximately 1.6% of Folger Nolan Fleming Douglas Capital Management Inc.'s investment portfolio, making the stock its 18th largest holding. Folger Nolan Fleming Douglas Capital Management Inc.'s holdings in Marriott International were worth $13,772,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MAR. Brighton Jones LLC increased its holdings in shares of Marriott International by 2.5% during the fourth quarter. Brighton Jones LLC now owns 8,887 shares of the company's stock valued at $2,479,000 after acquiring an additional 218 shares in the last quarter. Empowered Funds LLC increased its stake in Marriott International by 11.8% during the 4th quarter. Empowered Funds LLC now owns 4,174 shares of the company's stock valued at $1,164,000 after purchasing an additional 440 shares in the last quarter. Essex Financial Services Inc. raised its holdings in Marriott International by 1.3% during the fourth quarter. Essex Financial Services Inc. now owns 3,004 shares of the company's stock worth $838,000 after buying an additional 39 shares during the last quarter. Certuity LLC bought a new position in shares of Marriott International in the fourth quarter valued at $274,000. Finally, Avestar Capital LLC increased its position in shares of Marriott International by 11.7% during the fourth quarter. Avestar Capital LLC now owns 1,471 shares of the company's stock worth $410,000 after acquiring an additional 154 shares in the last quarter. Institutional investors own 70.70% of the company's stock.

Insider Buying and Selling

In other news, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction 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 transaction, the executive vice president now directly owns 20,724 shares in the company, valued at approximately $5,599,832.04. This trade represents a 4.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony Capuano sold 12,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 124,067 shares of the company's stock, valued at approximately $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. 10.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MAR shares. Dbs Bank upgraded Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Truist Financial cut their target price on Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a research report on Friday, May 30th. Jefferies Financial Group raised Marriott International from a "hold" rating to a "buy" rating and increased their price target for the company from $226.00 to $303.00 in a research report on Monday, May 12th. BMO Capital Markets upped their target price on shares of Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus dropped their price target on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Thirteen equities research 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 company's stock. According to data from MarketBeat, Marriott International currently has a consensus rating of "Moderate Buy" and an average price target of $275.15.

Marriott International Stock Down 3.1%

NASDAQ:MAR traded down $8.24 during midday trading on Friday, hitting $254.99. The company had a trading volume of 1,783,060 shares, compared to its average volume of 1,602,847. The stock's fifty day moving average price is $248.75 and its 200-day moving average price is $265.08. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52. The company has a market capitalization of $69.84 billion, a PE ratio of 30.65, a P/E/G ratio of 3.42 and a beta of 1.42.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.25 by $0.07. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.19 billion. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. Marriott International's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.13 earnings per share. As a group, research analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, May 23rd. This is a positive change from Marriott International's previous quarterly dividend of $0.63. Marriott International's payout ratio is currently 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.