Port Capital LLC Sells 41 Shares of Marriott International, Inc. (NASDAQ:MAR)

Port Capital LLC cut its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,885 shares of the company’s stock after selling 41 shares during the period. Port Capital LLC’s holdings in Marriott International were worth $805,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Miracle Mile Advisors LLC increased its position in Marriott International by 84.2% in the fourth quarter. Miracle Mile Advisors LLC now owns 5,577 shares of the company’s stock worth $1,556,000 after purchasing an additional 2,550 shares during the last quarter. Ignite Planners LLC bought a new stake in shares of Marriott International in the 4th quarter valued at approximately $214,000. Mayfair Advisory Group LLC bought a new stake in Marriott International in the fourth quarter worth $208,000. Accurate Wealth Management LLC boosted its stake in Marriott International by 3.4% during the fourth quarter. Accurate Wealth Management LLC now owns 3,615 shares of the company’s stock worth $979,000 after buying an additional 118 shares during the period. Finally, Oak Thistle LLC raised its position in Marriott International by 660.4% in the 4th quarter. Oak Thistle LLC now owns 6,159 shares of the company’s stock worth $1,718,000 after purchasing an additional 5,349 shares during the period. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Stock Performance

Shares of Marriott International stock opened at $272.59 on Thursday. The firm has a 50-day simple moving average of $238.33 and a two-hundred day simple moving average of $266.61. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52. The company has a market cap of $74.66 billion, a P/E ratio of 32.76, a price-to-earnings-growth ratio of 3.42 and a beta of 1.39.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.07. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. Marriott International’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.13 EPS. Equities research analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 23rd will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from Marriott International’s previous quarterly dividend of $0.63. Marriott International’s payout ratio is presently 30.52%.

Insiders Place Their Bets

In other Marriott International news, EVP Rena Hozore Reiss sold 3,500 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $286.65, for a total value of $1,003,275.00. Following the transaction, the executive vice president now owns 24,733 shares in the company, valued at approximately $7,089,714.45. This trade represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William P. Brown sold 12,642 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the completion of the sale, the insider now owns 30,919 shares of the company’s stock, valued at $8,831,393.97. This trade represents a 29.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,694 shares of company stock worth $9,208,342. Company insiders own 10.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Robert W. Baird lifted their target price on Marriott International from $250.00 to $265.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Jefferies Financial Group raised Marriott International from a “hold” rating to a “buy” rating and raised their price objective for the company from $226.00 to $303.00 in a research report on Monday. Wells Fargo & Company reduced their price target on Marriott International from $285.00 to $277.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Barclays cut their price target on shares of Marriott International from $283.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Melius Research upgraded Marriott International to a “strong-buy” rating in a research note on Monday, April 21st. Thirteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $276.60.

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.