Trillium Asset Management LLC Decreases Holdings in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Trillium Asset Management LLC sold 5,293 shares of Marriott International, decreasing its holdings by 7.0% to 70,344 shares, valued at approximately $16.8 million.
• The company also declared a quarterly dividend of $0.67, which will be paid on September 30th, reflecting a yield of around 1.0%.
• CEO Anthony Capuano sold 12,000 shares of the company, marking an 8.82% reduction in his ownership, amidst ongoing changes in institutional interest and analyst ratings.

Trillium Asset Management LLC reduced its position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 7.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,344 shares of the company's stock after selling 5,293 shares during the period. Trillium Asset Management LLC's holdings in Marriott International were worth $16,756,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in Marriott International in the fourth quarter worth $25,000. Kapitalo Investimentos Ltda bought a new position in shares of Marriott International during the fourth quarter valued at about $34,000. Morse Asset Management Inc bought a new position in shares of Marriott International during the first quarter valued at about $30,000. Heck Capital Advisors LLC bought a new position in shares of Marriott International during the fourth quarter valued at about $38,000. Finally, Sound Income Strategies LLC raised its stake in 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 buying an additional 50 shares in the last quarter. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MAR shares. Jefferies Financial Group upgraded shares of Marriott International from a "hold" rating to a "buy" rating and upped their price objective for the stock from $226.00 to $303.00 in a report on Monday, May 12th. Morgan Stanley cut their price target on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. UBS Group lowered 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. Barclays lowered 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. Finally, Melius Research upgraded shares of Marriott International to a "strong-buy" rating in a research report on Monday, April 21st. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $280.89.

Marriott International Price Performance

Shares of NASDAQ:MAR traded down $3.15 during trading on Thursday, reaching $266.55. 1,153,232 shares of the company were exchanged, compared to its average volume of 1,715,433. The firm has a market capitalization of $72.36 billion, a PE ratio of 30.05, a P/E/G ratio of 2.53 and a beta of 1.44. The business's fifty day simple moving average is $268.88 and its 200-day simple moving average is $261.21. Marriott International, Inc. has a 12-month low of $205.40 and a 12-month high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts' expectations of $6.66 billion. During the same quarter in the prior year, the company earned $2.50 EPS. The company's revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Announces Dividend

The business 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 dividend payout ratio is presently 30.21%.

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

Insiders Place Their Bets

In related news, CEO Anthony Capuano sold 12,000 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $263.90, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rajeev Menon sold 2,500 shares of the stock in a transaction on Tuesday, June 24th. The stock was 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. The trade was a 30.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.68% of the company's stock.

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.