Evermay Wealth Management LLC Cuts Holdings in Marriott International, Inc. (NASDAQ:MAR)

Evermay Wealth Management LLC decreased its position in Marriott International, Inc. (NASDAQ:MAR) by 15.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,899 shares of the company’s stock after selling 516 shares during the period. Evermay Wealth Management LLC’s holdings in Marriott International were worth $691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Marriott International during the fourth quarter worth about $25,000. Morse Asset Management Inc purchased a new stake in shares of Marriott International during the first quarter worth about $30,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Marriott International during the fourth quarter worth about $34,000. Sound Income Strategies LLC increased its stake in shares of Marriott International by 46.7% during the first quarter. Sound Income Strategies LLC now owns 157 shares of the company’s stock worth $37,000 after purchasing an additional 50 shares in the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Marriott International during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MAR shares. UBS Group dropped their price objective on shares of Marriott International from $302.00 to $299.00 and set a “neutral” rating for the company in a research note on Wednesday, May 21st. Robert W. Baird upped their price objective on shares of Marriott International from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. started coverage on shares of Marriott International in a research note on Monday, June 23rd. They set a “neutral” rating and a $284.00 price objective for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $245.00 price objective (down previously from $313.00) on shares of Marriott International in a research note on Monday, April 14th. Finally, Mizuho dropped their price objective on shares of Marriott International from $293.00 to $285.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Thirteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Marriott International currently has an average rating of “Moderate Buy” and a consensus target price of $276.90.

Marriott International Stock Performance

Shares of MAR stock opened at $279.11 on Monday. The firm’s 50 day moving average price is $268.67 and its 200-day moving average price is $262.21. Marriott International, Inc. has a one year low of $204.55 and a one year high of $307.52. The firm has a market cap of $76.45 billion, a P/E ratio of 31.79, a P/E/G ratio of 2.67 and a beta of 1.41.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $6.19 billion. During the same period in the prior year, the business posted $2.13 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts predict that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 23rd were issued a $0.67 dividend. This is a positive change from Marriott International’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Friday, May 23rd. Marriott International’s dividend payout ratio is currently 30.52%.

Insider Buying and Selling

In other Marriott International news, insider Rajeev Menon sold 2,500 shares of the business’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the transaction, the insider owned 5,706 shares in the company, valued at $1,530,805.68. The trade was a 30.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Benjamin T. Breland sold 1,000 shares of the stock in a transaction 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 owned 20,724 shares in the company, valued at approximately $5,599,832.04. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock valued at $4,107,710 in the last ninety days. Company insiders own 10.68% of the company’s stock.

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.