Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lessened its stake in Marriott International, Inc. (NASDAQ:MAR) by 4.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,255 shares of the company’s stock after selling 601 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Marriott International were worth $3,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MAR. PointState Capital LP purchased a new stake in shares of Marriott International during the third quarter worth $98,249,000. Canoe Financial LP purchased a new stake in Marriott International during the 3rd quarter valued at about $77,331,000. International Assets Investment Management LLC raised its holdings in Marriott International by 15,148.3% in the 3rd quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock valued at $75,208,000 after acquiring an additional 300,543 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Marriott International by 36,856.7% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock worth $58,346,000 after purchasing an additional 240,674 shares during the last quarter. Finally, AXA S.A. increased its holdings in shares of Marriott International by 133.4% in the second quarter. AXA S.A. now owns 221,045 shares of the company’s stock valued at $53,442,000 after purchasing an additional 126,323 shares during the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total transaction of $137,245.00. Following the transaction, the executive vice president now directly owns 12,286 shares in the company, valued at approximately $3,372,384.14. This trade represents a 3.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony Capuano sold 8,332 shares of the company’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 completion of the sale, the chief executive officer now owns 108,361 shares of the company’s stock, valued at approximately $30,827,620.89. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,815 shares of company stock worth $3,919,739. Corporate insiders own 12.32% of the company’s stock.

Wall Street Analyst Weigh In

MAR has been the subject of several analyst reports. Bank of America upped their target price on Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 21st. Evercore ISI raised their price objective on shares of Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Jefferies Financial Group boosted their target price on shares of Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. Truist Financial lifted their price target on shares of Marriott International from $254.00 to $277.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price objective on Marriott International from $280.00 to $314.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $269.65.

Marriott International Price Performance

Shares of Marriott International stock traded up $1.53 on Monday, reaching $272.29. 935,301 shares of the company were exchanged, compared to its average volume of 1,254,685. The stock’s 50 day moving average price is $281.99 and its 200-day moving average price is $254.90. The company has a market cap of $75.67 billion, a P/E ratio of 28.48, a price-to-earnings-growth ratio of 5.47 and a beta of 1.57. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $295.45.

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

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st were given a dividend of $0.63 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 0.93%. Marriott International’s dividend payout ratio is presently 26.36%.

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, City Express by Marriott, and St.