First Manhattan CO. LLC. Sells 4,024 Shares of Marriott International, Inc. (NASDAQ:MAR)

First Manhattan CO. LLC. decreased its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 550,141 shares of the company’s stock after selling 4,024 shares during the period. First Manhattan CO. LLC.’s holdings in Marriott International were worth $153,456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Straightline Group LLC acquired a new position in Marriott International in the fourth quarter valued at about $495,000. NewEdge Wealth LLC lifted its position in shares of Marriott International by 34.4% during the 4th quarter. NewEdge Wealth LLC now owns 4,345 shares of the company’s stock worth $1,212,000 after buying an additional 1,112 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in Marriott International in the fourth quarter valued at about $2,990,000. Markel Group Inc. grew its holdings in shares of Marriott International by 30.6% during the 4th quarter. Markel Group Inc. now owns 47,000 shares of the company’s stock valued at $13,110,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Covea Finance lifted its stake in Marriott International by 69.9% in the 4th quarter. Covea Finance now owns 60,540 shares of the company’s stock valued at $16,887,000 after purchasing an additional 24,900 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Marriott International Price Performance

MAR opened at $259.49 on Friday. The firm has a market cap of $71.61 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 3.42 and a beta of 1.39. Marriott International, Inc. has a 1 year low of $204.55 and a 1 year high of $307.52. The stock’s 50 day simple moving average is $238.15 and its 200 day simple moving average is $266.39.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.07. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the business posted $2.13 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, February 27th were issued a $0.63 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.52 annualized dividend and a dividend yield of 0.97%. Marriott International’s dividend payout ratio (DPR) is presently 30.29%.

Wall Street Analysts Forecast Growth

MAR has been the subject of several research reports. Mizuho dropped their target price on Marriott International from $293.00 to $285.00 and set a “neutral” rating for the company in a research report on Wednesday. BMO Capital Markets boosted their target price on shares of Marriott International from $250.00 to $265.00 and gave the stock a “market perform” rating in a report on Wednesday. Robert W. Baird lifted their price target on shares of Marriott International from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Wednesday. Evercore ISI raised Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price target for the company in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group lowered their price target on shares of Marriott International from $295.00 to $226.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Marriott International has a consensus rating of “Hold” and an average price target of $272.75.

Insider Buying and Selling

In other Marriott International news, EVP Rena Hozore Reiss sold 3,500 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the transaction, the executive vice president now directly owns 24,733 shares of the company’s stock, valued at approximately $7,089,714.45. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 1,054 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $277.48, for a total value of $292,463.92. Following the transaction, the director now directly owns 4,551 shares in the company, valued at $1,262,811.48. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,694 shares of company stock worth $8,938,132 in the last 90 days. Insiders own 10.68% of the company’s stock.

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.