Nuveen LLC Acquires New Shares in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Nuveen LLC has acquired a new stake in Marriott International, purchasing 697,140 shares valued at approximately $166 million, representing about 0.25% of the company's stock.
• Other large investors like GAMMA Investing LLC and Invesco Ltd. have also significantly increased their holdings in Marriott during the first quarter.
• Marriott International announced a stock repurchase plan authorizing the buyback of 25 million shares, indicating management's belief that the stock is undervalued.

Nuveen LLC acquired a new stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 697,140 shares of the company's stock, valued at approximately $166,059,000. Nuveen LLC owned approximately 0.25% of Marriott International as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Marriott International by 23,923.3% during the 1st quarter. GAMMA Investing LLC now owns 731,989 shares of the company's stock worth $174,360,000 after buying an additional 728,942 shares during the last quarter. Invesco Ltd. lifted its stake in Marriott International by 18.9% in the 1st quarter. Invesco Ltd. now owns 4,123,836 shares of the company's stock valued at $982,298,000 after purchasing an additional 654,766 shares during the last quarter. Northern Trust Corp lifted its stake in Marriott International by 16.3% in the 4th quarter. Northern Trust Corp now owns 2,333,994 shares of the company's stock valued at $651,044,000 after purchasing an additional 327,415 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Marriott International in the 4th quarter valued at about $88,062,000. Finally, Deutsche Bank AG lifted its stake in Marriott International by 19.1% in the 1st quarter. Deutsche Bank AG now owns 1,447,911 shares of the company's stock valued at $344,892,000 after purchasing an additional 232,036 shares during the last quarter. Institutional investors own 70.70% of the company's stock.

Insiders Place Their Bets

In other news, insider Rajeev Menon sold 2,500 shares of Marriott International 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 transaction, the insider owned 5,706 shares in the company, valued at approximately $1,530,805.68. The trade was a 30.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of Marriott International stock in a transaction on Friday, May 30th. The stock was sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the transaction, the chief executive officer owned 124,067 shares in the company, valued at approximately $32,741,281.30. This trade represents a 8.82% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by insiders.

Marriott International Price Performance

Shares of NASDAQ:MAR opened at $257.97 on Tuesday. The company's 50 day simple moving average is $268.72 and its 200 day simple moving average is $261.13. The stock has a market capitalization of $70.03 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 2.48 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 earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, hitting analysts' consensus estimates of $2.65. The firm had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.66 billion. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The company's revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.50 earnings per share. As a group, analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International announced that its board has authorized a stock repurchase plan on Thursday, August 7th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Marriott International Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $245.00 price objective (down from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Jefferies Financial Group upgraded shares of Marriott International from a "hold" rating to a "buy" rating and raised their price objective for the stock from $226.00 to $303.00 in a research report on Monday, May 12th. JPMorgan Chase & Co. assumed coverage on shares of Marriott International in a research report on Monday, June 23rd. They set a "neutral" rating and a $284.00 price objective for the company. BMO Capital Markets cut their price objective on shares of Marriott International from $285.00 to $280.00 and set a "market perform" rating for the company in a research report on Wednesday, August 6th. Finally, Mizuho cut their price objective on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $280.89.

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.

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