Eastern Bank Trims Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Eastern Bank cut its stake in shares of Marriott International, Inc. (NASDAQ:MARFree Report) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,459 shares of the company’s stock after selling 646 shares during the period. Eastern Bank’s holdings in Marriott International were worth $16,585,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAR. Silvant Capital Management LLC acquired a new position in Marriott International during the 3rd quarter worth approximately $31,000. Darwin Wealth Management LLC acquired a new stake in shares of Marriott International in the 3rd quarter worth approximately $33,000. ORG Partners LLC grew its holdings in shares of Marriott International by 158.5% in the 4th quarter. ORG Partners LLC now owns 137 shares of the company’s stock worth $38,000 after acquiring an additional 84 shares during the period. Cyrus J. Lawrence LLC acquired a new stake in shares of Marriott International in the 2nd quarter worth approximately $36,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Marriott International in the 3rd quarter worth approximately $40,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Anthony Capuano sold 8,332 shares of Marriott International stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the sale, the chief executive officer now owns 108,361 shares of the company’s stock, valued at approximately $30,827,620.89. The trade was a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William P. Brown sold 1,707 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $284.30, for a total value of $485,300.10. Following the sale, the insider now directly owns 23,077 shares in the company, valued at approximately $6,560,791.10. The trade was a 6.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,815 shares of company stock valued at $3,919,739. Insiders own 12.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MAR. Wells Fargo & Company increased their target price on Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Macquarie reiterated a “neutral” rating and set a $245.00 target price on shares of Marriott International in a report on Tuesday, November 5th. Jefferies Financial Group increased their target price on Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. Robert W. Baird increased their target price on Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus increased their price target on Marriott International from $252.00 to $283.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $269.65.

Check Out Our Latest Stock Analysis on Marriott International

Marriott International Price Performance

NASDAQ:MAR traded up $1.90 during mid-day trading on Monday, reaching $272.66. The stock had a trading volume of 536,966 shares, compared to its average volume of 1,194,923. The stock’s 50 day simple moving average is $281.99 and its two-hundred day simple moving average is $254.90. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $295.45. The company has a market capitalization of $75.77 billion, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 5.47 and a beta of 1.57.

Marriott International (NASDAQ:MARGet Free Report) last issued its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the prior year, the business earned $2.11 EPS. The business’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Marriott International, Inc. will post 9.26 EPS for the current fiscal year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.92%. Marriott International’s dividend payout ratio (DPR) is presently 26.36%.

Marriott International Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Marriott International (NASDAQ:MAR)

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