Carret Asset Management LLC Trims Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Carret Asset Management LLC lessened its stake in Marriott International, Inc. (NASDAQ:MAR) by 15.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,766 shares of the company’s stock after selling 500 shares during the period. Carret Asset Management LLC’s holdings in Marriott International were worth $659,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Advisor Resource Council acquired a new stake in Marriott International in the 1st quarter valued at approximately $215,000. Segment Wealth Management LLC increased its holdings in Marriott International by 2.3% in the 1st quarter. Segment Wealth Management LLC now owns 59,964 shares of the company’s stock valued at $14,283,000 after purchasing an additional 1,344 shares during the last quarter. Abundance Wealth Counselors increased its holdings in Marriott International by 1.7% in the 1st quarter. Abundance Wealth Counselors now owns 6,589 shares of the company’s stock valued at $1,569,000 after purchasing an additional 108 shares during the last quarter. Blue Trust Inc. increased its holdings in Marriott International by 1.9% in the 1st quarter. Blue Trust Inc. now owns 5,583 shares of the company’s stock valued at $1,330,000 after purchasing an additional 105 shares during the last quarter. Finally, Institute for Wealth Management LLC. increased its holdings in Marriott International by 1.6% in the 1st quarter. Institute for Wealth Management LLC. now owns 5,093 shares of the company’s stock valued at $1,213,000 after purchasing an additional 81 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MAR. The Goldman Sachs Group restated a “neutral” rating and issued a $245.00 price target (down previously from $313.00) on shares of Marriott International in a research note on Monday, April 14th. Stifel Nicolaus cut their price target on Marriott International from $295.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. Truist Financial cut their price target on Marriott International from $300.00 to $273.00 and set a “hold” rating on the stock in a report on Friday, May 30th. Robert W. Baird upped their price target on Marriott International from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Finally, UBS Group cut their price target on Marriott International from $302.00 to $299.00 and set a “neutral” rating on the stock in a report on Wednesday, May 21st. Thirteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marriott International presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.15.

Insider Activity

In other Marriott International news, EVP Benjamin T. Breland sold 1,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $270.21, for a total value of $270,210.00. Following the completion of the sale, the executive vice president now owns 20,724 shares in the company, valued at $5,599,832.04. This represents a 4.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony Capuano sold 12,000 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the completion of the sale, the chief executive officer now owns 124,067 shares in the company, valued at $32,741,281.30. This represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.68% of the company’s stock.

Marriott International Price Performance

Shares of MAR opened at $260.19 on Friday. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The stock has a market cap of $71.27 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 3.18 and a beta of 1.42. The firm has a fifty day moving average price of $252.89 and a 200 day moving average price of $263.87.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.07. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the previous year, the company earned $2.13 earnings per share. Marriott International’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts expect that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 23rd will be given a $0.67 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.68 annualized dividend and a dividend yield of 1.03%. This is an increase from Marriott International’s previous quarterly dividend of $0.63. Marriott International’s payout ratio is presently 30.52%.

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, City Express by Marriott, and St.