Wakefield Asset Management LLLP Acquires New Position in Marriott International, Inc. (NASDAQ:MAR)

Wakefield Asset Management LLLP bought a new stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 928 shares of the company's stock, valued at approximately $221,000.

A number of other large investors have also recently modified their holdings of MAR. Wescott Financial Advisory Group LLC boosted its stake in Marriott International by 0.6% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 5,554 shares of the company's stock worth $1,549,000 after acquiring an additional 35 shares in the last quarter. 4J Wealth Management LLC boosted its stake in Marriott International by 3.6% during the first quarter. 4J Wealth Management LLC now owns 1,224 shares of the company's stock worth $292,000 after acquiring an additional 43 shares in the last quarter. Obsidian Personal Planning Solutions LLC boosted its stake in Marriott International by 2.2% during the fourth quarter. Obsidian Personal Planning Solutions LLC now owns 2,019 shares of the company's stock worth $587,000 after acquiring an additional 44 shares in the last quarter. Sound Income Strategies LLC boosted its stake 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 acquiring an additional 50 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its stake in Marriott International by 3.4% during the first quarter. Rosenberg Matthew Hamilton now owns 1,529 shares of the company's stock worth $364,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 70.70% of the company's stock.

Analyst Upgrades and Downgrades

MAR has been the topic of several research reports. Barclays dropped 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 note on Tuesday, April 22nd. JPMorgan Chase & Co. started coverage on shares of Marriott International in a research note on Monday, June 23rd. They issued a "neutral" rating and a $284.00 target price on the stock. Morgan Stanley dropped their target price on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Melius Research upgraded shares of Marriott International to a "strong-buy" rating in a research note on Monday, April 21st. Finally, Stifel Nicolaus lowered their price objective on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Thirteen 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, the company has an average rating of "Moderate Buy" and a consensus price target of $276.90.

Marriott International Stock Performance

Shares of NASDAQ MAR traded up $6.23 during midday trading on Friday, reaching $279.11. The stock had a trading volume of 1,013,508 shares, compared to its average volume of 1,362,981. The stock has a 50-day moving average of $268.67 and a 200-day moving average of $262.29. The company has a market capitalization of $76.45 billion, a price-to-earnings ratio of 31.79, a price-to-earnings-growth ratio of 2.67 and a beta of 1.41. 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 data on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.25 by $0.07. The firm had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.13 earnings per share. As a group, analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 23rd were paid a $0.67 dividend. This is a boost from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, May 23rd. Marriott International's dividend payout ratio (DPR) is presently 30.52%.

Insiders Place Their Bets

In other Marriott International news, CEO Anthony Capuano sold 12,000 shares of Marriott International 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 transaction, the chief executive officer directly owned 124,067 shares of the company's stock, valued at $32,741,281.30. This trade represents a 8.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction on Monday, May 12th. The stock was sold at an average price of $270.21, for a total transaction of $270,210.00. Following the completion of the transaction, the executive vice president directly owned 20,724 shares of the company's stock, valued at $5,599,832.04. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,107,710 in the last three months. Corporate insiders own 10.68% of the company's stock.

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.