Sigma Planning Corp Reduces Position in Marriott International, Inc. (NASDAQ:MAR)

Sigma Planning Corp reduced its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 51.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,227 shares of the company's stock after selling 3,375 shares during the period. Sigma Planning Corp's holdings in Marriott International were worth $769,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Catalyst Financial Partners LLC raised its holdings in Marriott International by 11.6% during the 1st quarter. Catalyst Financial Partners LLC now owns 971 shares of the company's stock valued at $231,000 after buying an additional 101 shares during the period. Signaturefd LLC grew its holdings in Marriott International by 2.4% in the first quarter. Signaturefd LLC now owns 6,173 shares of the company's stock valued at $1,470,000 after purchasing an additional 145 shares during the period. MQS Management LLC acquired a new stake in shares of Marriott International in the first quarter worth approximately $566,000. Hughes Financial Services LLC acquired a new position in Marriott International during the first quarter worth $145,000. Finally, Arizona State Retirement System raised its position in Marriott International by 0.7% in the first quarter. Arizona State Retirement System now owns 69,289 shares of the company's stock valued at $16,505,000 after purchasing an additional 512 shares during the period. Hedge funds and other institutional investors own 70.70% of the company's stock.

Insider Activity

In other news, EVP Benjamin T. Breland sold 1,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 20,724 shares of the company's stock, valued at approximately $5,599,832.04. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rajeev Menon sold 2,500 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total value 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. This represents a 30.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,500 shares of company stock valued at $4,107,710. 10.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on MAR. Stifel Nicolaus dropped their price objective on Marriott International from $295.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Melius Research upgraded Marriott International to a "strong-buy" rating in a research report on Monday, April 21st. Jefferies Financial Group upgraded Marriott International from a "hold" rating to a "buy" rating and increased their price objective for the company from $226.00 to $303.00 in a research report on Monday, May 12th. Truist Financial dropped their price target on shares of Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. Finally, UBS Group decreased their price target on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Thirteen 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $276.90.

Marriott International Stock Down 0.7%

Marriott International stock opened at $271.60 on Friday. The firm has a 50 day moving average price of $268.25 and a 200-day moving average price of $262.42. Marriott International, Inc. has a twelve month low of $204.55 and a twelve month high of $307.52. The company has a market capitalization of $74.39 billion, a P/E ratio of 30.93, a P/E/G ratio of 3.38 and a beta of 1.41.

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

Marriott International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from Marriott International's previous quarterly dividend of $0.63. Marriott International's payout ratio is 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.

Want to see what other hedge funds are holding MAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marriott International, Inc. (NASDAQ:MAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.