MML Investors Services LLC Has $1.73 Million Stake in Marriott International, Inc. (NASDAQ:MAR)

Posted by Defense World Staff on Mar 1st, 2023

MML Investors Services LLC reduced its stake in Marriott International, Inc. (NASDAQ:MAR – Get Rating) by 13.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,316 shares of the company’s stock after selling 1,866 shares during the period. MML Investors Services LLC’s holdings in Marriott International were worth $1,726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MAR. Massachusetts Financial Services Co. MA raised its position in Marriott International by 5.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,591,393 shares of the company’s stock valued at $1,063,858,000 after buying an additional 371,366 shares during the last quarter. Jennison Associates LLC increased its position in shares of Marriott International by 3.0% during the 3rd quarter. Jennison Associates LLC now owns 5,301,911 shares of the company’s stock valued at $743,010,000 after purchasing an additional 153,512 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Marriott International by 32.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,350,364 shares of the company’s stock valued at $591,693,000 after purchasing an additional 1,055,986 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Marriott International by 1,066.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,157,619 shares of the company’s stock valued at $379,202,000 after purchasing an additional 1,972,684 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Marriott International by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 1,700,689 shares of the company’s stock valued at $231,311,000 after purchasing an additional 12,214 shares during the last quarter. 58.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MAR. Jefferies Financial Group downgraded Marriott International from a “buy” rating to a “hold” rating and set a $166.00 price target for the company. in a research note on Monday, January 9th. Barclays lifted their price target on Marriott International from $173.00 to $176.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 15th. Citigroup cut Marriott International from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $170.00 to $175.00 in a research note on Wednesday, December 14th. Credit Suisse Group upped their price objective on Marriott International from $185.00 to $205.00 and gave the company a “hold” rating in a research report on Thursday, February 16th. Finally, Truist Financial boosted their price target on Marriott International from $185.00 to $205.00 and gave the company a “hold” rating in a report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $180.50.

Insiders Place Their Bets

In other news, CFO Kathleen K. Oberg sold 5,765 shares of the stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $179.18, for a total transaction of $1,032,972.70. Following the sale, the chief financial officer now directly owns 20,630 shares in the company, valued at approximately $3,696,483.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marriott International news, EVP Rena Hozore Reiss sold 7,821 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $172.02, for a total transaction of $1,345,368.42. Following the transaction, the executive vice president now directly owns 16,284 shares in the company, valued at $2,801,173.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kathleen K. Oberg sold 5,765 shares of Marriott International stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $179.18, for a total value of $1,032,972.70. Following the sale, the chief financial officer now directly owns 20,630 shares in the company, valued at $3,696,483.40. The disclosure for this sale can be found here. Insiders have sold a total of 16,086 shares of company stock valued at $2,803,416 in the last quarter. Insiders own 12.21% of the company’s stock.

Marriott International Trading Down 0.2 %

NASDAQ:MAR opened at $169.24 on Wednesday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 16.51. Marriott International, Inc. has a 12-month low of $131.01 and a 12-month high of $195.90. The firm has a market cap of $52.15 billion, a P/E ratio of 23.31, a PEG ratio of 0.74 and a beta of 1.58. The stock’s 50 day simple moving average is $164.16 and its 200-day simple moving average is $158.08.

Marriott International (NASDAQ:MAR – Get Rating) last issued its quarterly earnings data on Tuesday, February 14th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.38 billion. Marriott International had a return on equity of 168.43% and a net margin of 11.35%. The business’s revenue was up 33.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 earnings per share. Equities analysts anticipate that Marriott International, Inc. will post 7.69 EPS for the current year.

Marriott International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, February 24th will be issued a $0.40 dividend. The ex-dividend date is Thursday, February 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. This is an increase from Marriott International’s previous quarterly dividend of $0.30. Marriott International’s dividend payout ratio is currently 22.04%.

Marriott International declared that its board has authorized a stock repurchase program on Thursday, November 10th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Marriott International Profile

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Marriott International, Inc engages in the operation and franchise of hotel, residential, and timeshare properties. It operates through the following geography segments: U.S. & Canada, Asia Pacific, and Europe, Middle East and Africa (EMEA). The company was founded by J. Willard Marriott and Alice Sheets Marriott in 1927 and is headquartered in Bethesda, MD.

Institutional Ownership by Quarter for Marriott International (NASDAQ:MAR)

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