Pacer Advisors Inc. Sells 8,066 Shares of Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Pacer Advisors Inc. reduced its stake in Marriott International by 19.8% in the first quarter, owning 32,755 shares worth approximately $7.8 million after selling 8,066 shares.
• Despite the reduction in shares by some institutions, Marriott International's stock increased by 2.3% and has a market cap of $76.45 billion.
• Marriott recently increased its quarterly dividend to $0.67 per share, marking a boost from the previous $0.63 and reflecting an annualized yield of 0.96%.

Pacer Advisors Inc. cut its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 19.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,755 shares of the company's stock after selling 8,066 shares during the period. Pacer Advisors Inc.'s holdings in Marriott International were worth $7,802,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Straightline Group LLC acquired a new stake in Marriott International during the 4th quarter worth approximately $495,000. Sequoia Financial Advisors LLC increased its stake in shares of Marriott International by 11.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,441 shares of the company's stock valued at $3,202,000 after purchasing an additional 1,432 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Marriott International in the 1st quarter valued at $2,244,000. Alpha Cubed Investments LLC bought a new position in shares of Marriott International in the 1st quarter valued at $974,000. Finally, Invesco Ltd. increased its stake in shares of Marriott International by 17.4% in the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock valued at $967,662,000 after purchasing an additional 512,963 shares during the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Anthony Capuano sold 12,000 shares of the 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Benjamin T. Breland sold 1,000 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 20,724 shares in the company, valued at approximately $5,599,832.04. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock worth $4,107,710 in the last 90 days. Insiders own 10.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MAR. Stifel Nicolaus reduced their price objective on Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Dbs Bank upgraded Marriott International from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 14th. Melius Research upgraded Marriott International to a "strong-buy" rating in a research report on Monday, April 21st. The Goldman Sachs Group reiterated a "neutral" rating and issued a $245.00 price target (down previously from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Finally, UBS Group reduced their price target on Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Thirteen 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $276.90.

Marriott International Price Performance

MAR stock traded down $3.74 during mid-day trading on Wednesday, hitting $269.73. 662,688 shares of the stock were exchanged, compared to its average volume of 1,713,540. The stock has a market capitalization of $73.88 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 2.64 and a beta of 1.41. The business has a fifty day moving average price of $268.85 and a 200 day moving average price of $262.32. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the business earned $2.13 EPS. Marriott International's revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

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

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.