Pacer Advisors Inc. Sells 8,066 Shares of Marriott International, Inc. (NASDAQ:MAR)

Pacer Advisors Inc. lessened its holdings in Marriott International, Inc. (NASDAQ:MAR) by 19.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 32,755 shares of the company’s stock after selling 8,066 shares during the period. Pacer Advisors Inc.’s holdings in Marriott International were worth $7,802,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Straightline Group LLC bought a new position in shares of Marriott International during the 4th quarter valued at about $495,000. Sequoia Financial Advisors LLC lifted its position in shares of Marriott International by 11.9% in the first quarter. Sequoia Financial Advisors LLC now owns 13,441 shares of the company’s stock worth $3,202,000 after buying an additional 1,432 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Marriott International during the 1st quarter valued at approximately $2,244,000. Alpha Cubed Investments LLC bought a new stake in Marriott International in the 1st quarter worth approximately $974,000. Finally, Invesco Ltd. raised its holdings in shares of Marriott International by 17.4% during the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company’s stock worth $967,662,000 after acquiring an additional 512,963 shares in the last quarter. 70.70% of the stock is owned by institutional investors.

Marriott International Price Performance

MAR stock opened at $279.11 on Monday. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52. The firm’s 50-day moving average is $268.67 and its 200 day moving average is $262.21. The company has a market capitalization of $76.45 billion, a PE 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 earnings results on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, topping 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 business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the company posted $2.13 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Sell-side analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

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

Analysts Set New Price Targets

MAR has been the topic of several research reports. Morgan Stanley reduced their price target on shares of Marriott International from $275.00 to $267.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. initiated coverage on shares of Marriott International in a research report on Monday, June 23rd. They set a “neutral” rating and a $284.00 target price on the stock. BMO Capital Markets lifted their price target on Marriott International from $250.00 to $265.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Stifel Nicolaus decreased their price objective on Marriott International from $295.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. Finally, Mizuho dropped their target price on Marriott International from $293.00 to $285.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Thirteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $276.90.

Insider Buying and Selling

In related news, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the transaction, the executive vice president directly owned 20,724 shares of the company’s stock, valued at $5,599,832.04. This trade represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Rajeev Menon sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total value of $670,700.00. Following the sale, the insider owned 5,706 shares of the company’s stock, valued at approximately $1,530,805.68. This represents a 30.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $4,107,710 over the last three months. 10.68% of the stock is owned by company insiders.

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.