Canoe Financial LP Sells 209,560 Shares of Marriott International, Inc. (NASDAQ:MAR)

Canoe Financial LP lowered its stake in Marriott International, Inc. (NASDAQ:MAR) by 68.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 96,046 shares of the company’s stock after selling 209,560 shares during the quarter. Canoe Financial LP’s holdings in Marriott International were worth $26,791,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Jensen Investment Management Inc. purchased a new position in shares of Marriott International during the third quarter valued at about $793,000. BayBridge Capital Group LLC bought a new stake in Marriott International during the 3rd quarter valued at approximately $1,254,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Marriott International by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock worth $140,844,000 after acquiring an additional 2,723 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Marriott International in the 3rd quarter valued at approximately $2,721,000. Finally, Kinsale Capital Group Inc. bought a new stake in shares of Marriott International during the third quarter valued at approximately $3,769,000. 70.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MAR has been the subject of several recent research reports. Mizuho raised their price objective on Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Macquarie reissued a “neutral” rating and set a $245.00 price target on shares of Marriott International in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Stifel Nicolaus lifted their target price on shares of Marriott International from $252.00 to $283.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Finally, Jefferies Financial Group upped their price target on Marriott International from $251.00 to $295.00 and gave the stock a “hold” rating in a research note on Thursday, January 2nd. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $272.15.

Insider Activity

In other news, insider William P. Brown sold 1,707 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 23,077 shares in the company, valued at $6,560,791.10. This represents a 6.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Benjamin T. Breland sold 500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the sale, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at $3,372,384.14. This represents a 3.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,815 shares of company stock valued at $3,919,739 in the last quarter. 10.07% of the stock is currently owned by insiders.

Marriott International Stock Up 0.4 %

Shares of MAR stock opened at $277.18 on Friday. The company has a 50 day moving average price of $282.60 and a 200-day moving average price of $255.65. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $295.45. The firm has a market capitalization of $77.03 billion, a PE ratio of 28.99, a P/E/G ratio of 4.48 and a beta of 1.57.

Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $2.11 EPS. Analysts anticipate that Marriott International, Inc. will post 9.25 earnings per share for the current year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.91%. Marriott International’s dividend payout ratio is currently 26.36%.

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, City Express by Marriott, and St.