Gabelli Funds LLC Sells 600 Shares of Marriott International, Inc. (NASDAQ:MAR)

Gabelli Funds LLC reduced its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 7.7% during the first quarter, HoldingsChannel reports. The firm owned 7,200 shares of the company’s stock after selling 600 shares during the period. Gabelli Funds LLC’s holdings in Marriott International were worth $1,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAR. Mutual Advisors LLC lifted its holdings in shares of Marriott International by 4.9% during the fourth quarter. Mutual Advisors LLC now owns 1,260 shares of the company’s stock valued at $284,000 after purchasing an additional 59 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in Marriott International by 3.2% in the fourth quarter. Ritholtz Wealth Management now owns 5,266 shares of the company’s stock valued at $1,188,000 after acquiring an additional 165 shares during the period. Clear Harbor Asset Management LLC purchased a new stake in shares of Marriott International during the fourth quarter worth about $214,000. Blue Trust Inc. grew its position in shares of Marriott International by 8.6% during the fourth quarter. Blue Trust Inc. now owns 3,641 shares of the company’s stock worth $821,000 after purchasing an additional 288 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Marriott International by 24.1% during the fourth quarter. Global Retirement Partners LLC now owns 2,435 shares of the company’s stock worth $551,000 after purchasing an additional 473 shares in the last quarter. 70.70% of the stock is owned by institutional investors.

Marriott International Stock Performance

NASDAQ MAR traded up $2.85 on Friday, reaching $236.60. 929,373 shares of the stock traded hands, compared to its average volume of 1,537,140. The company has a fifty day moving average price of $238.90 and a 200-day moving average price of $241.86. The company has a market cap of $67.58 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 4.45 and a beta of 1.60. Marriott International, Inc. has a 12 month low of $180.75 and a 12 month high of $260.57.

Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.95 billion. During the same period last year, the firm earned $2.09 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, research analysts anticipate that Marriott International, Inc. will post 9.56 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 24th were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This is an increase from Marriott International’s previous quarterly dividend of $0.52. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.07%. Marriott International’s dividend payout ratio (DPR) is currently 26.01%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MAR. JPMorgan Chase & Co. increased their target price on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Susquehanna assumed coverage on Marriott International in a report on Friday, June 21st. They set a “neutral” rating and a $255.00 price target for the company. Wells Fargo & Company cut their price target on Marriott International from $250.00 to $248.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. BMO Capital Markets raised their price target on Marriott International from $235.00 to $240.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Finally, Barclays raised their price target on Marriott International from $240.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, July 17th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $243.59.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.