Kornitzer Capital Management Inc. KS Decreases Position in Marriott International, Inc. (NASDAQ:MAR)

Kornitzer Capital Management Inc. KS lessened its holdings in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 9.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,506 shares of the company's stock after selling 3,148 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Marriott International were worth $7,028,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Wescott Financial Advisory Group LLC increased its position in shares of Marriott International by 0.6% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 5,554 shares of the company's stock valued at $1,549,000 after buying an additional 35 shares during the period. 4J Wealth Management LLC increased its position 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 valued at $292,000 after purchasing an additional 43 shares during the last quarter. Obsidian Personal Planning Solutions LLC lifted its holdings in shares of Marriott International by 2.2% in the 4th quarter. Obsidian Personal Planning Solutions LLC now owns 2,019 shares of the company's stock worth $587,000 after acquiring an additional 44 shares during the last quarter. Sound Income Strategies LLC lifted its stake in Marriott International by 46.7% in the first quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock worth $37,000 after purchasing an additional 50 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased 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 worth $364,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 70.70% of the company's stock.

Marriott International Trading Down 0.5%

MAR stock traded down $1.30 on Wednesday, hitting $273.60. The company had a trading volume of 1,004,966 shares, compared to its average volume of 1,588,434. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52. The stock has a market cap of $74.94 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 3.49 and a beta of 1.41. The stock's 50-day simple moving average is $267.65 and its 200 day simple moving average is $262.40.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.07. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The business had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.19 billion. During the same period last year, the firm posted $2.13 earnings per share. The business's revenue for the quarter was up 4.8% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were issued a $0.67 dividend. This is a boost from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, May 23rd. Marriott International's dividend payout ratio (DPR) is currently 30.52%.

Insider Buying and Selling at Marriott International

In other news, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $270.21, for a total transaction of $270,210.00. Following the transaction, the executive vice president directly owned 20,724 shares of the company's stock, valued at $5,599,832.04. The trade was a 4.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rajeev Menon sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total transaction of $670,700.00. Following the completion of the transaction, the insider owned 5,706 shares of the company's stock, valued at approximately $1,530,805.68. The trade was a 30.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,500 shares of company stock valued at $4,107,710. Company insiders own 10.68% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Marriott International in a report on Monday, June 23rd. They issued a "neutral" rating and a $284.00 target price on the stock. Stifel Nicolaus lowered their price objective on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Mizuho cut their target price on Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. UBS Group dropped their price objective on Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Finally, Melius Research upgraded Marriott International to a "strong-buy" rating in a report on Monday, April 21st. 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $276.90.

Marriott International 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.