Mediolanum International Funds Ltd Sells 6,883 Shares of Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Mediolanum International Funds Ltd decreased its stake in Marriott International by 35.7% in Q1, now holding 12,413 shares valued at approximately $2.94 million.
• Analysts have lowered price targets for Marriott International, with estimates now ranging from $240.00 to $299.00, with a consensus rating of "Moderate Buy."
• Marriott International recently declared a quarterly dividend of $0.67 per share, an increase from the previous $0.63, representing a dividend yield of 0.96%.

Mediolanum International Funds Ltd cut its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 35.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,413 shares of the company's stock after selling 6,883 shares during the quarter. Mediolanum International Funds Ltd's holdings in Marriott International were worth $2,942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Marriott International in the fourth quarter valued at $25,000. Kapitalo Investimentos Ltda bought a new position in shares of Marriott International during the 4th quarter valued at about $34,000. Morse Asset Management Inc bought a new stake in shares of Marriott International in the 1st quarter worth approximately $30,000. Heck Capital Advisors LLC acquired a new stake in Marriott International during the fourth quarter valued at approximately $38,000. Finally, Sound Income Strategies LLC boosted its holdings in Marriott International by 46.7% during the first quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock worth $37,000 after buying an additional 50 shares in the last quarter. Institutional investors own 70.70% of the company's stock.

Marriott International Stock Down 1.4%

Shares of MAR traded down $3.73 during mid-day trading on Wednesday, hitting $269.75. 662,688 shares of the company's stock were exchanged, compared to its average volume of 1,713,540. The firm has a fifty day moving average of $268.85 and a two-hundred day moving average of $262.32. The stock has a market cap of $73.88 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.64 and a beta of 1.41. Marriott International, Inc. has a twelve month low of $204.55 and a twelve month high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. Marriott International's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 EPS. On average, equities analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were issued a dividend of $0.67 per share. This is an increase from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, May 23rd. Marriott International's dividend payout ratio is currently 30.52%.

Insider Buying and Selling

In other Marriott International news, CEO Anthony Capuano sold 12,000 shares of the 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 completion of the sale, the chief executive officer directly owned 124,067 shares of the company's stock, valued at $32,741,281.30. This represents a 8.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Benjamin T. Breland sold 1,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the completion of the sale, the executive vice president directly owned 20,724 shares of the company's stock, valued at approximately $5,599,832.04. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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

A number of equities research analysts have recently commented on the company. Mizuho cut their price objective on Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Truist Financial dropped their price target on Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. Jefferies Financial Group upgraded shares of Marriott International from a "hold" rating to a "buy" rating and raised their target price for the stock from $226.00 to $303.00 in a report on Monday, May 12th. Stifel Nicolaus cut their price target on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Finally, Robert W. Baird raised their price objective on shares of Marriott International from $265.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Thirteen 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $276.90.

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.