Summit Trail Advisors LLC Reduces Position in Marriott International, Inc. (NASDAQ:MAR)

Summit Trail Advisors LLC reduced its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 23.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,460 shares of the company’s stock after selling 442 shares during the period. Summit Trail Advisors LLC’s holdings in Marriott International were worth $329,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MAR. Parnassus Investments LLC purchased a new position in shares of Marriott International during the third quarter worth $481,621,000. FMR LLC lifted its holdings in shares of Marriott International by 16.1% in the 3rd quarter. FMR LLC now owns 8,634,610 shares of the company’s stock valued at $1,697,219,000 after buying an additional 1,194,665 shares during the period. Jennison Associates LLC grew its holdings in Marriott International by 34.8% during the fourth quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock worth $1,025,416,000 after acquiring an additional 1,173,028 shares during the period. International Assets Investment Management LLC lifted its holdings in Marriott International by 1,487.6% in the fourth quarter. International Assets Investment Management LLC now owns 345,246 shares of the company’s stock valued at $77,856,000 after acquiring an additional 323,500 shares during the period. Finally, Financial Gravity Asset Management Inc. grew its stake in shares of Marriott International by 2,023.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 135,673 shares of the company’s stock worth $26,668,000 after purchasing an additional 129,285 shares during the period. 70.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MAR shares. UBS Group raised their price target on shares of Marriott International from $210.00 to $259.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Truist Financial upped their price target on Marriott International from $233.00 to $263.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Barclays boosted their price objective on Marriott International from $239.00 to $240.00 and gave the company an “equal weight” rating in a research report on Friday, April 19th. Robert W. Baird lifted their price target on shares of Marriott International from $248.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Marriott International from $250.00 to $248.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $241.33.

Insider Activity at Marriott International

In other news, CEO Anthony Capuano sold 20,000 shares of Marriott International stock in a transaction that occurred 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 sale, the chief executive officer now owns 93,323 shares in the company, valued at $23,188,899.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Rena Hozore Reiss sold 3,563 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was 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 in the company, valued at approximately $8,841,063.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Capuano sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $248.48, for a total value of $4,969,600.00. Following the completion of the sale, the chief executive officer now owns 93,323 shares in the company, valued at $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. Corporate insiders own 10.07% of the company’s stock.

Marriott International Price Performance

MAR stock opened at $234.94 on Wednesday. The company has a fifty day moving average price of $246.89 and a 200 day moving average price of $229.50. The company has a market cap of $67.10 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 4.44 and a beta of 1.61. Marriott International, Inc. has a 12 month low of $165.13 and a 12 month high of $260.57.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The firm had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.95 billion. During the same period in the previous year, the company posted $2.09 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, analysts anticipate that Marriott International, Inc. will post 9.5 earnings per share for the current year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 21.47%.

About Marriott International

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.