ZEGA Investments LLC Invests $408,000 in Marriott International, Inc. $MAR

ZEGA Investments LLC bought a new position in Marriott International, Inc. (NASDAQ:MAR) in the first quarter, HoldingsChannel reports. The firm bought 1,713 shares of the company’s stock, valued at approximately $408,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Motley Fool Asset Management LLC lifted its stake in shares of Marriott International by 0.3% during the 1st quarter. Motley Fool Asset Management LLC now owns 12,824 shares of the company’s stock worth $3,055,000 after acquiring an additional 39 shares during the last quarter. 4J Wealth Management LLC lifted its stake in shares of Marriott International by 3.6% during the 1st quarter. 4J Wealth Management LLC now owns 1,224 shares of the company’s stock worth $292,000 after acquiring an additional 43 shares during the last quarter. Obsidian Personal Planning Solutions LLC lifted its stake in shares of Marriott International by 2.2% during the 4th quarter. Obsidian Personal Planning Solutions LLC now owns 2,019 shares of the company’s stock worth $587,000 after acquiring an additional 44 shares during the last quarter. Legacy Financial Advisors Inc. lifted its stake in shares of Marriott International by 2.8% during the 1st quarter. Legacy Financial Advisors Inc. now owns 1,665 shares of the company’s stock worth $397,000 after acquiring an additional 45 shares during the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Marriott International by 6.6% during the 1st quarter. Harbour Investments Inc. now owns 758 shares of the company’s stock worth $180,000 after acquiring an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Insider Transactions at Marriott International

In other news, CEO Anthony Capuano sold 12,000 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $263.90, for a total value of $3,166,800.00. Following the sale, the chief executive officer owned 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rajeev Menon sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the sale, the insider owned 5,706 shares in the company, valued at $1,530,805.68. The trade was a 30.47% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by corporate insiders.

Marriott International Price Performance

Shares of NASDAQ:MAR opened at $266.26 on Tuesday. The business’s 50-day moving average is $269.02 and its 200 day moving average is $260.31. Marriott International, Inc. has a 1 year low of $205.40 and a 1 year high of $307.52. The firm has a market capitalization of $72.28 billion, a P/E ratio of 30.02, a P/E/G ratio of 2.53 and a beta of 1.44.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.65. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.66 billion. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.50 earnings per share. On average, analysts expect that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International announced that its Board of Directors has approved a share repurchase program on Thursday, August 7th that authorizes the company to repurchase 25,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, August 21st will be issued a $0.67 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.0%. Marriott International’s dividend payout ratio is currently 30.21%.

Wall Street Analysts Forecast Growth

MAR has been the subject of a number of research analyst reports. Dbs Bank raised Marriott International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 14th. Truist Financial decreased their target price on Marriott International from $300.00 to $273.00 and set a “hold” rating for the company in a research report on Friday, May 30th. Morgan Stanley decreased their target price on Marriott International from $275.00 to $267.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets decreased their target price on Marriott International from $285.00 to $280.00 and set a “market perform” rating for the company in a research report on Wednesday, August 6th. Finally, Barclays decreased their target price on Marriott International from $283.00 to $236.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $280.89.

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.