Swiss National Bank Has $158.70 Million Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Swiss National Bank reduced its stake in Marriott International by 1.4% in Q1, holding 666,238 shares valued at approximately $158.7 million after selling 9,800 shares.
• Marriott reported earnings of $2.65 EPS for the last quarter, meeting analyst estimates, with a revenue of $6.74 billion, reflecting a 4.7% year-over-year increase.
• The company initiated a stock repurchase plan allowing for the buyback of 25 million shares, which typically signals that management believes the stock is undervalued.

Swiss National Bank lessened its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 1.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 666,238 shares of the company's stock after selling 9,800 shares during the period. Swiss National Bank owned 0.24% of Marriott International worth $158,698,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 4J Wealth Management LLC lifted its position in shares of Marriott International by 3.6% in the first quarter. 4J Wealth Management LLC now owns 1,224 shares of the company's stock worth $292,000 after purchasing an additional 43 shares in the last quarter. Obsidian Personal Planning Solutions LLC lifted its position in shares of Marriott International by 2.2% in the fourth quarter. Obsidian Personal Planning Solutions LLC now owns 2,019 shares of the company's stock worth $587,000 after purchasing an additional 44 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Marriott International by 6.6% in the first quarter. Harbour Investments Inc. now owns 758 shares of the company's stock worth $180,000 after purchasing an additional 47 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of 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 in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its position 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 purchasing an additional 50 shares in the last quarter. Institutional investors own 70.70% of the company's stock.

Insiders Place Their Bets

In other news, CEO Anthony Capuano sold 12,000 shares of the business's stock in a transaction on 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 sale, the chief executive officer owned 124,067 shares in the company, valued at approximately $32,741,281.30. The trade was a 8.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rajeev Menon sold 2,500 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total transaction of $670,700.00. Following the completion of the sale, the insider owned 5,706 shares in the company, valued at $1,530,805.68. This represents a 30.47% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is owned by insiders.

Marriott International Price Performance

Shares of Marriott International stock traded up $2.96 during midday trading on Wednesday, hitting $267.97. The company had a trading volume of 386,081 shares, compared to its average volume of 1,714,602. The business's 50 day simple moving average is $268.73 and its two-hundred day simple moving average is $261.16. The stock has a market cap of $72.74 billion, a PE ratio of 30.25, a P/E/G ratio of 2.46 and a beta of 1.44. Marriott International, Inc. has a 1-year low of $205.40 and a 1-year high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, hitting analysts' consensus estimates of $2.65. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter in the previous year, the company earned $2.50 earnings per share. The business's revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

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

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, August 21st will be paid a dividend of $0.67 per share. The ex-dividend date is Thursday, August 21st. This represents a $2.68 dividend on an annualized basis and a yield of 1.0%. Marriott International's payout ratio is currently 30.21%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MAR. Truist Financial reduced their price target on shares of 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 raised shares of Marriott International from a "hold" rating to a "buy" rating and raised their price objective for the company from $226.00 to $303.00 in a research report on Monday, May 12th. Mizuho cut their price objective on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. UBS Group cut their price objective on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Finally, Barclays cut 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 report on Tuesday, April 22nd. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Marriott International presently has an average rating of "Moderate Buy" and an average target price 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.