Marriott International, Inc. (NASDAQ:MAR) Holdings Reduced by SlateStone Wealth LLC

SlateStone Wealth LLC lessened its position in Marriott International, Inc. (NASDAQ:MAR) by 7.7% in the 4th quarter, Holdings Channel reports. The fund owned 1,080 shares of the company’s stock after selling 90 shares during the period. SlateStone Wealth LLC’s holdings in Marriott International were worth $244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MAR. PDS Planning Inc increased its stake in Marriott International by 11.5% in the fourth quarter. PDS Planning Inc now owns 1,307 shares of the company’s stock valued at $295,000 after purchasing an additional 135 shares in the last quarter. Aspire Private Capital LLC lifted its position in shares of Marriott International by 6.1% in the 4th quarter. Aspire Private Capital LLC now owns 3,282 shares of the company’s stock worth $740,000 after purchasing an additional 190 shares during the period. Wedge Capital Management L L P NC increased its stake in Marriott International by 20.6% during the 4th quarter. Wedge Capital Management L L P NC now owns 205,808 shares of the company’s stock valued at $46,412,000 after purchasing an additional 35,179 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Marriott International by 34.8% in the 4th quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock worth $1,025,416,000 after buying an additional 1,173,028 shares during the last quarter. Finally, GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of Marriott International during the fourth quarter valued at about $564,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Trading Up 2.9 %

Shares of MAR traded up $7.06 during mid-day trading on Wednesday, reaching $246.75. The company’s stock had a trading volume of 557,132 shares, compared to its average volume of 1,430,504. The stock has a market cap of $71.30 billion, a PE ratio of 23.52, a P/E/G ratio of 1.73 and a beta of 1.62. Marriott International, Inc. has a 52 week low of $162.77 and a 52 week high of $260.57. The company’s fifty day moving average price is $248.18 and its two-hundred day moving average price is $226.48.

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

Marriott International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Wednesday, February 21st. Marriott International’s payout ratio is currently 20.41%.

Wall Street Analysts Forecast Growth

MAR has been the subject of several recent research reports. 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 research report on Tuesday, January 2nd. UBS Group boosted their target price on Marriott International from $210.00 to $259.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Wells Fargo & Company upped their target price on Marriott International from $234.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, March 18th. 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. 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, April 19th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Marriott International currently has a consensus rating of “Hold” and a consensus price target of $236.69.

Insider Activity at Marriott International

In other news, Director Eric Hippeau sold 1,400 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total transaction of $351,666.00. Following the transaction, the director now directly owns 72 shares of the company’s stock, valued at $18,085.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Marriott International news, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $240.39, for a total transaction of $856,509.57. Following the transaction, the executive vice president now owns 36,778 shares in the company, valued at $8,841,063.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric Hippeau sold 1,400 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total transaction of $351,666.00. Following the completion of the sale, the director now owns 72 shares in the company, valued at approximately $18,085.68. The disclosure for this sale can be found here. Insiders sold 125,003 shares of company stock worth $30,435,493 over the last 90 days. Company insiders own 10.07% 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.