Marriott International, Inc. (NASDAQ:MAR) Holdings Cut by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 63.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,983 shares of the company's stock after selling 15,283 shares during the quarter. Cresset Asset Management LLC's holdings in Marriott International were worth $2,506,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Marriott International by 0.8% in the fourth quarter. FMR LLC now owns 6,973,897 shares of the company's stock valued at $1,945,299,000 after purchasing an additional 56,978 shares during the period. Geode Capital Management LLC boosted its holdings in Marriott International by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 5,026,529 shares of the company's stock valued at $1,398,321,000 after purchasing an additional 60,458 shares during the period. Capital International Investors boosted its holdings in Marriott International by 0.3% in the fourth quarter. Capital International Investors now owns 4,720,306 shares of the company's stock valued at $1,316,682,000 after purchasing an additional 15,923 shares during the period. Wellington Management Group LLP boosted its holdings in Marriott International by 50.8% in the fourth quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock valued at $1,300,168,000 after purchasing an additional 1,570,144 shares during the period. Finally, Invesco Ltd. boosted its holdings in Marriott International by 17.4% in the fourth 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 period. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Marriott International Trading Up 5.4%

NASDAQ:MAR traded up $13.99 on Monday, reaching $271.96. The stock had a trading volume of 2,551,048 shares, compared to its average volume of 1,605,977. The company has a 50-day moving average of $237.91 and a 200 day moving average of $266.51. The stock has a market cap of $74.49 billion, a P/E ratio of 32.69, a price-to-earnings-growth ratio of 3.42 and a beta of 1.39. 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 issued its 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. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.19 billion. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. The company's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 EPS. On average, equities analysts predict that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 23rd will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, May 23rd. This is a positive change from Marriott International's previous quarterly dividend of $0.63. Marriott International's dividend payout ratio is 28.70%.

Insider Activity

In other Marriott International news, insider William P. Brown sold 12,642 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $285.63, for a total value of $3,610,934.46. Following the transaction, the insider now owns 30,919 shares of the company's stock, valued at $8,831,393.97. This trade represents a 29.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kathleen K. Oberg sold 14,498 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the completion of the transaction, the chief financial officer now directly owns 14,282 shares in the company, valued at $3,971,395.74. This represents a 50.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,694 shares of company stock worth $8,938,132. 10.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial decreased their target price on Marriott International from $308.00 to $300.00 and set a "hold" rating for the company in a report on Friday, March 21st. Morgan Stanley cut their price target on Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company cut their price target on Marriott International from $285.00 to $277.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Argus raised their price target on Marriott International from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Finally, Barclays cut their price target on 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. Thirteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $276.60.

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.