Marriott International, Inc. (NASDAQ:MAR) Stake Lessened by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lessened its stake in Marriott International, Inc. (NASDAQ:MAR) by 35.0% in the first quarter, Holdings Channel reports. The institutional investor owned 8,612 shares of the company’s stock after selling 4,643 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Marriott International were worth $2,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in Marriott International during the fourth quarter valued at $580,922,000. Wellington Management Group LLP increased its stake in Marriott International by 50.8% during the fourth quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company’s stock valued at $1,300,168,000 after purchasing an additional 1,570,144 shares during the last quarter. GAMMA Investing LLC increased its stake in Marriott International by 23,923.3% during the first quarter. GAMMA Investing LLC now owns 731,989 shares of the company’s stock valued at $174,360,000 after purchasing an additional 728,942 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Marriott International during the fourth quarter valued at $165,162,000. Finally, Invesco Ltd. increased its stake in Marriott International by 17.4% during the fourth quarter. Invesco Ltd. now owns 3,469,070 shares of the company’s stock valued at $967,662,000 after purchasing an additional 512,963 shares during the last quarter. Institutional investors own 70.70% of the company’s stock.

Wall Street Analyst Weigh In

MAR has been the subject of several recent research reports. Jefferies Financial Group upgraded shares of Marriott International from a “hold” rating to a “buy” rating and boosted their target price for the company from $226.00 to $303.00 in a research note on Monday, May 12th. The Goldman Sachs Group reissued a “neutral” rating and set a $245.00 price target (down previously from $313.00) on shares of Marriott International in a report on Monday, April 14th. Morgan Stanley reduced their price target on shares of Marriott International from $275.00 to $267.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Robert W. Baird boosted their price target on shares of Marriott International from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company reduced their price target on shares of Marriott International from $285.00 to $277.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $275.15.

Insiders Place Their Bets

In other Marriott International news, CEO Anthony Capuano sold 12,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 124,067 shares in the company, valued at approximately $32,741,281.30. The trade was a 8.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Benjamin T. Breland sold 1,000 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $270.21, for a total value of $270,210.00. Following the sale, the executive vice president now owns 20,724 shares in the company, valued at approximately $5,599,832.04. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.68% of the company’s stock.

Marriott International Trading Up 0.1%

Shares of Marriott International stock opened at $265.93 on Tuesday. The company’s 50-day moving average price is $245.85 and its two-hundred day moving average price is $265.22. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $307.52. The stock has a market cap of $72.84 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 3.42 and a beta of 1.42.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results 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 9.46% and a negative return on equity of 116.67%. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the previous year, the business earned $2.13 earnings per share. Marriott International’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities 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 will be paid on Monday, June 30th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, May 23rd. This is an increase from Marriott International’s previous quarterly dividend of $0.63. Marriott International’s payout ratio is presently 30.52%.

Marriott International 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.