Westfield Capital Management Co. LP Takes $4.71 Million Position in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Westfield Capital Management has acquired 19,777 shares of Marriott International valued at approximately $4.71 million, indicating increased institutional investment in the company.
• Marriott's quarterly dividend has increased from $0.63 to $0.67, reflecting a commitment to returning value to shareholders with an annualized yield of 1.0%.
• Recent analyst ratings reflect a range of opinions on Marriott's stock, with a consensus rating of "Moderate Buy" and an average price target of $280.11.

Westfield Capital Management Co. LP purchased a new position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,777 shares of the company's stock, valued at approximately $4,711,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MAR. Capital International Investors boosted its position in Marriott International by 0.3% in the fourth quarter. Capital International Investors now owns 4,720,306 shares of the company's stock worth $1,316,682,000 after purchasing an additional 15,923 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Marriott International by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,507,144 shares of the company's stock valued at $699,345,000 after purchasing an additional 123,484 shares during the last quarter. Northern Trust Corp boosted its holdings in Marriott International by 16.3% in the 4th quarter. Northern Trust Corp now owns 2,333,994 shares of the company's stock worth $651,044,000 after buying an additional 327,415 shares during the period. Fundsmith Investment Services LTD. raised its stake in shares of Marriott International by 5.5% during the 4th quarter. Fundsmith Investment Services LTD. now owns 1,504,980 shares of the company's stock valued at $419,799,000 after purchasing an additional 78,770 shares during the period. Finally, Fayez Sarofim & Co boosted its stake in Marriott International by 2.5% in the 4th quarter. Fayez Sarofim & Co now owns 1,047,156 shares of the company's stock worth $296,455,000 after purchasing an additional 25,469 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Price Performance

NASDAQ MAR traded down $2.12 on Thursday, reaching $260.59. 1,695,849 shares of the company's stock traded hands, compared to its average volume of 1,531,594. The stock has a market cap of $70.74 billion, a PE ratio of 29.38, a P/E/G ratio of 2.51 and a beta of 1.44. Marriott International, Inc. has a 12 month low of $205.40 and a 12 month high of $307.52. The stock has a 50-day simple moving average of $268.85 and a 200 day simple moving average of $261.73.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, hitting analysts' consensus estimates of $2.65. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The company had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.66 billion. During the same quarter last year, the company earned $2.50 EPS. The firm's revenue was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

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

Marriott International announced that its board has initiated a stock buyback program on Thursday, August 7th that allows the company to repurchase 25,000,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BMO Capital Markets decreased their price target on Marriott International from $285.00 to $280.00 and set a "market perform" rating on the stock in a research report on Wednesday. Mizuho decreased their target price on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley lowered 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. 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 target for the company. Finally, Stifel Nicolaus lowered 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. Twelve equities 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $280.89.

Insiders Place Their Bets

In other news, insider Rajeev Menon sold 2,500 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Benjamin T. Breland sold 1,000 shares of the firm's stock in a transaction that occurred 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 owned 20,724 shares in the company, valued at $5,599,832.04. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock valued at $4,107,710 in the last ninety days. Company insiders own 10.68% of the company's stock.

About Marriott International

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.