Lincoln National Corp Cuts Stake in Marriott International, Inc. (NASDAQ:MAR)

Lincoln National Corp lessened its stake in Marriott International, Inc. (NASDAQ:MAR) by 3.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,895 shares of the company’s stock after selling 124 shares during the quarter. Lincoln National Corp’s holdings in Marriott International were worth $878,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Parnassus Investments LLC bought a new stake in shares of Marriott International in the third quarter worth about $481,621,000. FMR LLC raised its holdings in shares of Marriott International by 16.1% during the 3rd quarter. FMR LLC now owns 8,634,610 shares of the company’s stock worth $1,697,219,000 after acquiring an additional 1,194,665 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Marriott International by 34.8% in the fourth quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock valued at $1,025,416,000 after purchasing an additional 1,173,028 shares in the last quarter. International Assets Investment Management LLC increased its position in Marriott International by 1,487.6% in the fourth quarter. International Assets Investment Management LLC now owns 345,246 shares of the company’s stock worth $77,856,000 after purchasing an additional 323,500 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. raised its stake in Marriott International by 2,023.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 135,673 shares of the company’s stock valued at $26,668,000 after purchasing an additional 129,285 shares in the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Trading Up 0.9 %

MAR opened at $237.54 on Friday. The business’s fifty day simple moving average is $246.62 and its 200-day simple moving average is $229.54. The company has a market capitalization of $67.85 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 4.44 and a beta of 1.61. Marriott International, Inc. has a 12-month low of $165.13 and a 12-month high of $260.57.

Marriott International (NASDAQ:MAR) last posted its earnings results on Wednesday, May 1st. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the business posted $2.09 EPS. On average, equities research analysts predict that Marriott International, Inc. will post 9.5 EPS for the current year.

Insiders Place Their Bets

In related news, Director Eric Hippeau sold 1,400 shares of the firm’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 completion of the transaction, the director now owns 72 shares of the company’s stock, valued at $18,085.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Satyajit Anand sold 2,749 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $251.93, for a total transaction of $692,555.57. Following the sale, the insider now owns 24,478 shares in the company, valued at $6,166,742.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eric Hippeau sold 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total value of $351,666.00. Following the completion of the sale, the director now directly owns 72 shares in the company, valued at $18,085.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,003 shares of company stock valued at $30,435,493. Insiders own 10.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MAR shares. Wells Fargo & Company decreased their target price on shares of Marriott International from $250.00 to $248.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Truist Financial lifted their target price on Marriott International from $233.00 to $263.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Robert W. Baird increased their price target on Marriott International from $248.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Argus boosted their price objective on shares of Marriott International from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, BMO Capital Markets lifted their price target on shares of Marriott International from $235.00 to $240.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $241.33.

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.