M&T Bank Corp Cuts Position in Marriott International, Inc. (NASDAQ:MAR)

M&T Bank Corp lessened its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 9.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,394 shares of the company’s stock after selling 10,868 shares during the period. M&T Bank Corp’s holdings in Marriott International were worth $23,542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its stake in Marriott International by 40.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,444 shares of the company’s stock worth $1,228,000 after purchasing an additional 1,560 shares during the last quarter. Levin Capital Strategies L.P. acquired a new position in Marriott International in the fourth quarter valued at $222,000. Natixis Advisors L.P. grew its holdings in shares of Marriott International by 5.6% during the fourth quarter. Natixis Advisors L.P. now owns 244,115 shares of the company’s stock worth $55,050,000 after purchasing an additional 12,904 shares during the last quarter. Heritage Wealth Management LLC purchased a new stake in shares of Marriott International in the 4th quarter valued at about $437,000. Finally, Rogco LP boosted its position in shares of Marriott International by 130.9% in the 4th quarter. Rogco LP now owns 2,154 shares of the company’s stock valued at $486,000 after purchasing an additional 1,221 shares during the period. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marriott International

In related news, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $240.39, for a total transaction of $856,509.57. Following the transaction, the executive vice president now directly owns 36,778 shares in the company, valued at $8,841,063.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Rena Hozore Reiss sold 3,563 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $240.39, for a total transaction of $856,509.57. Following the completion of the transaction, the executive vice president now owns 36,778 shares of the company’s stock, valued at $8,841,063.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony Capuano sold 20,000 shares of Marriott International stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $248.48, for a total transaction of $4,969,600.00. Following the completion of the transaction, the chief executive officer now owns 93,323 shares in the company, valued at approximately $23,188,899.04. The disclosure for this sale can be found here. In the last three months, insiders sold 125,003 shares of company stock worth $30,435,493. Insiders own 12.32% of the company’s stock.

Marriott International Trading Down 0.4 %

Shares of MAR stock traded down $0.97 during mid-day trading on Friday, reaching $234.59. The stock had a trading volume of 1,572,856 shares, compared to its average volume of 1,539,790. Marriott International, Inc. has a 12-month low of $165.13 and a 12-month high of $260.57. The business has a 50-day simple moving average of $247.40 and a 200 day simple moving average of $228.39. The company has a market cap of $67.00 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 5.24 and a beta of 1.61.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.95 billion. Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $2.09 earnings per share. Research analysts anticipate that Marriott International, Inc. will post 9.49 EPS for the current year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 22nd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.08 dividend on an annualized basis and a yield of 0.89%. Marriott International’s dividend payout ratio (DPR) is currently 21.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MAR. Argus boosted their price objective on Marriott International from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Wells Fargo & Company lowered their price objective on shares of Marriott International from $250.00 to $248.00 and set an “equal weight” rating on the stock in a research report on Thursday. Barclays upped their target price on shares of Marriott International from $239.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday, April 19th. BMO Capital Markets raised their price target on Marriott International from $235.00 to $240.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, UBS Group increased their price objective on Marriott International from $210.00 to $259.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $241.33.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.