Cresset Asset Management LLC Sells 15,283 Shares of Marriott International, Inc. (NASDAQ:MAR)

Cresset Asset Management LLC lowered its position in Marriott International, Inc. (NASDAQ:MAR) by 63.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,983 shares of the company’s stock after selling 15,283 shares during the quarter. Cresset Asset Management LLC’s holdings in Marriott International were worth $2,506,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MAR. Wescott Financial Advisory Group LLC grew its stake in shares of Marriott International by 0.6% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 5,554 shares of the company’s stock valued at $1,549,000 after purchasing an additional 35 shares during the period. TFG Advisers LLC raised its stake in Marriott International by 0.8% during the fourth quarter. TFG Advisers LLC now owns 4,426 shares of the company’s stock worth $1,235,000 after acquiring an additional 37 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Marriott International by 1.2% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,290 shares of the company’s stock valued at $918,000 after acquiring an additional 38 shares during the period. Evermay Wealth Management LLC grew its holdings in shares of Marriott International by 1.1% in the 4th quarter. Evermay Wealth Management LLC now owns 3,415 shares of the company’s stock worth $953,000 after purchasing an additional 38 shares during the last quarter. Finally, Essex Financial Services Inc. increased its position in shares of Marriott International by 1.3% during the 4th quarter. Essex Financial Services Inc. now owns 3,004 shares of the company’s stock worth $838,000 after purchasing an additional 39 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marriott International

In other news, EVP Rena Hozore Reiss sold 3,500 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the completion of the transaction, the executive vice president now directly owns 24,733 shares of the company’s stock, valued at $7,089,714.45. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William P. Brown sold 12,642 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $285.63, for a total value of $3,610,934.46. Following the completion of the sale, the insider now owns 30,919 shares in the company, valued at $8,831,393.97. The trade was a 29.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,694 shares of company stock valued at $8,938,132. 10.68% of the stock is currently owned by corporate insiders.

Marriott International Price Performance

Marriott International stock opened at $257.97 on Friday. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52. The firm has a market capitalization of $70.66 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 3.42 and a beta of 1.39. The company’s 50 day simple moving average is $237.89 and its 200 day simple moving average is $266.34.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.07. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.19 billion. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 EPS. As a group, analysts predict that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, February 27th were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.52 dividend on an annualized basis and a yield of 0.98%. Marriott International’s payout ratio is 28.70%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Marriott International from $285.00 to $277.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. BMO Capital Markets raised their price target on Marriott International from $250.00 to $265.00 and gave the company a “market perform” rating in a report on Wednesday. Argus increased their target price on Marriott International from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. UBS Group lifted their price target on Marriott International from $294.00 to $301.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Melius Research upgraded shares of Marriott International to a “strong-buy” rating in a research report on Monday, April 21st. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $272.75.

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, City Express by Marriott, and St.