Intech Investment Management LLC Sells 214 Shares of Marriott International, Inc. (NASDAQ:MAR)

Intech Investment Management LLC cut its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,766 shares of the company’s stock after selling 214 shares during the period. Intech Investment Management LLC’s holdings in Marriott International were worth $1,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Marriott International by 0.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,100 shares of the company’s stock worth $20,659,000 after buying an additional 740 shares during the period. Cornerstone Advisors LLC grew its stake in shares of Marriott International by 4.5% during the third quarter. Cornerstone Advisors LLC now owns 4,600 shares of the company’s stock valued at $1,144,000 after buying an additional 200 shares during the last quarter. Moran Wealth Management LLC lifted its stake in shares of Marriott International by 2.1% during the 3rd quarter. Moran Wealth Management LLC now owns 2,562 shares of the company’s stock worth $637,000 after acquiring an additional 53 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in Marriott International during the 3rd quarter valued at $33,000. Finally, Commerce Bank increased its stake in Marriott International by 3.6% in the third quarter. Commerce Bank now owns 11,361 shares of the company’s stock worth $2,824,000 after purchasing an additional 393 shares during the period. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MAR has been the topic of several recent analyst reports. Bank of America raised their price target on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Mizuho lifted their price target on shares of Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Truist Financial reduced their price objective on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Robert W. Baird upped their target price on Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company upped their price objective on shares of Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $259.00.

Marriott International Stock Up 0.3 %

MAR opened at $284.29 on Monday. The firm’s 50-day moving average price is $261.88 and its 200-day moving average price is $243.45. The company has a market cap of $79.00 billion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 5.58 and a beta of 1.58. Marriott International, Inc. has a 52-week low of $200.94 and a 52-week high of $289.04.

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

Marriott International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be paid a $0.63 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.89%. Marriott International’s payout ratio is currently 26.36%.

Insider Activity at Marriott International

In related news, CEO Anthony Capuano sold 8,332 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were 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 in the company, valued at approximately $30,827,620.89. This trade represents a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kathleen K. Oberg sold 2,360 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $285.41, for a total transaction of $673,567.60. Following the completion of the transaction, the chief financial officer now owns 39,726 shares of the company’s stock, valued at approximately $11,338,197.66. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,108 shares of company stock worth $3,434,439 over the last three months. Company insiders own 12.32% of the company’s stock.

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.