Kornitzer Capital Management Inc. KS Reduces Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Kornitzer Capital Management Inc. KS cut its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,284 shares of the company's stock after selling 4,809 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Marriott International were worth $9,084,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. J.W. Cole Advisors Inc. boosted its position in Marriott International by 6.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 2,545 shares of the company's stock valued at $574,000 after purchasing an additional 162 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Marriott International during the fourth quarter valued at approximately $33,000. Greenleaf Trust lifted its position in shares of Marriott International by 8.5% in the fourth quarter. Greenleaf Trust now owns 3,704 shares of the company's stock valued at $835,000 after buying an additional 291 shares during the last quarter. Lafayette Investments Inc. acquired a new stake in shares of Marriott International in the fourth quarter valued at approximately $300,000. Finally, Fonville Wealth Management LLC acquired a new stake in shares of Marriott International in the fourth quarter valued at approximately $912,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Marriott International Stock Performance

Shares of NASDAQ:MAR traded down $0.30 during midday trading on Friday, reaching $236.00. The company's stock had a trading volume of 1,842,310 shares, compared to its average volume of 1,319,787. The firm has a market capitalization of $68.20 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.72 and a beta of 1.62. The firm has a 50 day moving average price of $248.31 and a two-hundred day moving average price of $225.65. Marriott International, Inc. has a fifty-two week low of $162.77 and a fifty-two week high of $260.57.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $3.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $1.45. The company had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $6.20 billion. Marriott International had a negative return on equity of 848.49% and a net margin of 13.00%. The firm's revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 EPS. As a group, research analysts anticipate that Marriott International, Inc. will post 9.46 earnings per share for the current year.

Marriott International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Wednesday, February 21st. Marriott International's dividend payout ratio is 20.41%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Argus raised their price objective on Marriott International from $270.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, March 19th. Truist Financial raised their price objective on Marriott International from $233.00 to $263.00 and gave the stock a "hold" rating in a research note on Wednesday, February 14th. UBS Group raised their price objective on Marriott International from $210.00 to $259.00 and gave the company a "neutral" rating in a report on Wednesday, February 28th. Jefferies Financial Group raised their price objective on Marriott International from $205.00 to $227.00 and gave the company a "hold" rating in a report on Tuesday, January 2nd. Finally, Barclays raised their price objective on Marriott International from $239.00 to $240.00 and gave the company an "equal weight" rating in a report on Friday. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $236.88.

Insider Activity at Marriott International

In related news, EVP Rena Hozore Reiss sold 3,563 shares of the business's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $240.39, for a total value of $856,509.57. Following the completion of the sale, the executive vice president now directly owns 36,778 shares of the company's stock, valued at approximately $8,841,063.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Marriott International news, insider Satyajit Anand sold 2,749 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $251.93, for a total transaction of $692,555.57. Following the completion of the sale, the insider now directly owns 24,478 shares of the company's stock, valued at approximately $6,166,742.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rena Hozore Reiss sold 3,563 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $240.39, for a total value of $856,509.57. Following the sale, the executive vice president now directly owns 36,778 shares of the company's stock, valued at $8,841,063.42. The disclosure for this sale can be found here. Insiders sold 125,003 shares of company stock valued at $30,435,493 in the last three months. Corporate insiders own 12.32% 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.