Kornitzer Capital Management Inc. KS lessened its holdings in Marriott International, Inc. (NASDAQ:MAR – Free Report) by 7.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,227 shares of the company’s stock after selling 1,411 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Marriott International were worth $6,483,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of MAR. State Street Corp raised its stake in shares of Marriott International by 2.9% in the second quarter. State Street Corp now owns 9,644,773 shares of the company’s stock valued at $3,574,256,000 after acquiring an additional 272,044 shares in the last quarter. Jupiter Topco LLC acquired a new position in Marriott International during the 2nd quarter worth $81,872,000. William Blair Investment Management LLC grew its stake in Marriott International by 255.5% during the 2nd quarter. William Blair Investment Management LLC now owns 300,872 shares of the company’s stock worth $111,500,000 after purchasing an additional 216,241 shares in the last quarter. Danske Bank A S increased its holdings in Marriott International by 170.4% during the 2nd quarter. Danske Bank A S now owns 326,743 shares of the company’s stock worth $121,088,000 after purchasing an additional 205,886 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Marriott International in the 3rd quarter valued at about $65,604,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.
Wall Street Analysts Forecast Growth
MAR has been the subject of several recent research reports. CICC Research assumed coverage on Marriott International in a research note on Wednesday, August 12th. They issued an “outperform” rating and a $410.00 price objective for the company. Jefferies Financial Group restated a “buy” rating on shares of Marriott International in a research note on Wednesday. Mizuho reduced their target price on shares of Marriott International from $384.00 to $374.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. Barclays lifted their price target on shares of Marriott International from $363.00 to $409.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Marriott International from $388.00 to $406.00 and gave the stock a “neutral” rating in a report on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Marriott International presently has an average rating of “Moderate Buy” and a consensus price target of $399.04.
Get Our Latest Stock Analysis on MAR
Marriott International Stock Performance
MAR opened at $416.47 on Monday. Marriott International, Inc. has a one year low of $280.99 and a one year high of $433.30. The company has a market cap of $107.24 billion, a P/E ratio of 41.56, a PEG ratio of 3.07 and a beta of 1.15. The business’s 50-day simple moving average is $366.29 and its 200-day simple moving average is $358.15.
Marriott International (NASDAQ:MAR – Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The company reported $3.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.18. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.93 billion. Marriott International had a negative return on equity of 69.94% and a net margin of 9.68%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.47 earnings per share. As a group, analysts predict that Marriott International, Inc. will post 12.10 earnings per share for the current fiscal year.
Marriott International Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, November 19th will be issued a $0.73 dividend. The ex-dividend date is Thursday, November 19th. This represents a $2.92 annualized dividend and a dividend yield of 0.7%. Marriott International’s dividend payout ratio is presently 29.14%.
Insiders Place Their Bets
In related news, CEO Anthony Capuano sold 63,355 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $420.12, for a total value of $26,616,702.60. Following the completion of the sale, the chief executive officer directly owned 50,867 shares of the company’s stock, valued at $21,370,244.04. The trade was a 55.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Deborah Harrison sold 3,500 shares of the company’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $352.09, for a total transaction of $1,232,315.00. Following the completion of the transaction, the insider owned 282,383 shares of the company’s stock, valued at $99,424,230.47. This represents a 1.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 77,824 shares of company stock worth $32,243,110. 11.43% of the stock is currently owned by company insiders.
Key Marriott International News
Here are the key news stories impacting Marriott International this week:
- Positive Sentiment: Marriott declared a quarterly cash dividend of $0.73 per share, payable December 31 to shareholders of record November 19. The annualized dividend is $2.92, a modest income-return component for investors. Marriott dividend announcement
- Positive Sentiment: Recent quarterly results beat analyst estimates for earnings and revenue; a MarketBeat review noted that fee growth outpaced room revenue, supporting the view that Marriott’s performance is not solely dependent on travel demand. Marriott earnings analysis
- Positive Sentiment: Marriott is entering Laos with a Luxury Collection property, extending its international brand presence and potential fee-generating hotel network. Marriott debuts in Laos
- Positive Sentiment: Recent headlines point to bullish views from Robert W. Baird, Barclays and Goldman Sachs, while Zacks characterized MAR as a strong momentum stock. These indicate favorable analyst and trend sentiment, though the provided reports give no price targets or detailed rationale. Baird view Barclays view Goldman Sachs view Zacks momentum article
- Negative Sentiment: CEO Anthony Capuano sold 63,355 shares for about $26.6 million, reducing his direct stake by 55.47%. EVPs Rena Reiss and Benjamin Breland also sold shares. Multiple insider sales can raise investor concern, although the filings alone do not establish the executives’ reasons. CEO SEC filing Rena Reiss SEC filing Benjamin Breland SEC filing
- Negative Sentiment: Freedom Broker downgraded Marriott from “strong buy” to “hold,” tempering the otherwise positive analyst headlines. Freedom Broker ratings
Marriott International Profile
Marriott International is a global lodging company that manages, franchises, and licenses hotels, resorts, and other accommodations. Its portfolio spans luxury, premium, select-service, and extended-stay brands, including The Ritz-Carlton, St. Regis, W Hotels, Marriott, Sheraton, Courtyard, Residence Inn, and Moxy.
The company traces its origins to a root beer stand opened by J. Willard and Alice Marriott in Washington, DC, in 1927. It entered the lodging business in the 1950s and is headquartered in Bethesda, Maryland.
Marriott serves travelers in countries and territories around the world and offers the Marriott Bonvoy loyalty program.
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