Coastal Bridge Advisors LLC Purchases New Stake in Marriott International, Inc. (NASDAQ:MAR)

Coastal Bridge Advisors LLC bought a new stake in Marriott International, Inc. (NASDAQ:MAR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 761 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wescott Financial Advisory Group LLC lifted its stake in shares of Marriott International by 0.6% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 5,554 shares of the company’s stock worth $1,549,000 after buying an additional 35 shares during the last quarter. TFG Advisers LLC lifted its holdings in shares of Marriott International by 0.8% during the fourth quarter. TFG Advisers LLC now owns 4,426 shares of the company’s stock worth $1,235,000 after buying an additional 37 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Marriott International by 1.2% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,290 shares of the company’s stock valued at $918,000 after acquiring an additional 38 shares during the period. Evermay Wealth Management LLC increased its position in Marriott International by 1.1% during the fourth quarter. Evermay Wealth Management LLC now owns 3,415 shares of the company’s stock worth $953,000 after acquiring an additional 38 shares during the period. Finally, Essex Financial Services Inc. boosted its holdings in Marriott International by 1.3% in the 4th quarter. Essex Financial Services Inc. now owns 3,004 shares of the company’s stock valued at $838,000 after purchasing an additional 39 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Stock Performance

MAR opened at $255.99 on Thursday. The firm has a market cap of $70.64 billion, a P/E ratio of 30.77, a PEG ratio of 3.42 and a beta of 1.39. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52. The firm has a 50-day moving average of $238.51 and a 200 day moving average of $266.43.

Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.07. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period in the previous year, the company posted $2.13 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. Equities research analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, February 27th were given a $0.63 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.98%. Marriott International’s dividend payout ratio (DPR) is currently 30.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Jefferies Financial Group cut their price objective on shares of Marriott International from $295.00 to $226.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Barclays lowered their target price 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. Argus upped their price objective on Marriott International from $300.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Truist Financial reduced their target price on Marriott International from $308.00 to $300.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Finally, Stifel Nicolaus lowered their price objective on shares of Marriott International from $295.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, April 16th. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $272.75.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 1,054 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $277.48, for a total transaction of $292,463.92. Following the sale, the director now owns 4,551 shares in the company, valued at approximately $1,262,811.48. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William P. Brown sold 12,642 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 30,919 shares in the company, valued at $8,831,393.97. The trade was a 29.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,694 shares of company stock valued at $8,938,132. Company insiders own 10.68% 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.