Marriott International, Inc. (NASDAQ:MAR) Shares Sold by First Trust Advisors LP

Posted by Defense World Staff on Mar 11th, 2023

First Trust Advisors LP decreased its position in shares of Marriott International, Inc. (NASDAQ:MAR – Get Rating) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,506 shares of the company’s stock after selling 6,379 shares during the quarter. First Trust Advisors LP’s holdings in Marriott International were worth $14,645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MAR. BlackRock Inc. lifted its position in Marriott International by 1.7% in the third quarter. BlackRock Inc. now owns 16,499,816 shares of the company’s stock valued at $2,312,285,000 after buying an additional 281,614 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Marriott International by 5.1% in the third 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 lifted its position in Marriott International by 3.0% in the third quarter. Jennison Associates LLC now owns 5,301,911 shares of the company’s stock valued at $743,010,000 after buying an additional 153,512 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Marriott International by 32.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,350,364 shares of the company’s stock worth $591,693,000 after purchasing an additional 1,055,986 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Marriott International by 1,066.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,157,619 shares of the company’s stock worth $379,202,000 after purchasing an additional 1,972,684 shares in the last quarter. Institutional investors and hedge funds own 58.97% of the company’s stock.

Marriott International Trading Down 1.9 %

Shares of MAR stock opened at $164.53 on Friday. The company has a debt-to-equity ratio of 16.51, a quick ratio of 0.45 and a current ratio of 0.45. Marriott International, Inc. has a 1 year low of $131.01 and a 1 year high of $195.90. The stock has a fifty day moving average of $167.83 and a two-hundred day moving average of $158.60. The firm has a market capitalization of $50.69 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 0.75 and a beta of 1.58.

Marriott International (NASDAQ:MAR – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.38 billion. Marriott International had a return on equity of 168.43% and a net margin of 11.35%. The company’s revenue was up 33.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 earnings per share. As a group, research analysts expect that Marriott International, Inc. will post 7.73 EPS for the current year.

Marriott International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, February 24th will be issued a $0.40 dividend. This is a positive change from Marriott International’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, February 23rd. This represents a $1.60 annualized dividend and a dividend yield of 0.97%. Marriott International’s dividend payout ratio is 22.04%.

Insider Activity

In other news, insider William P. Brown sold 2,500 shares of the company’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $170.03, for a total transaction of $425,075.00. Following the completion of the sale, the insider now directly owns 17,738 shares of the company’s stock, valued at $3,015,992.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider William P. Brown sold 2,500 shares of the company’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $170.03, for a total transaction of $425,075.00. Following the completion of the sale, the insider now directly owns 17,738 shares of the company’s stock, valued at $3,015,992.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kathleen K. Oberg sold 5,765 shares of the company’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $179.18, for a total value of $1,032,972.70. Following the transaction, 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 sold a total of 22,086 shares of company stock worth $3,860,436 over the last 90 days. 12.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MAR has been the topic of a number of recent research reports. Robert W. Baird upped their target price on shares of Marriott International from $183.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, February 27th. StockNews.com raised Marriott International from a “hold” rating to a “buy” rating in a report on Thursday, February 16th. Truist Financial raised their target price on Marriott International from $185.00 to $205.00 and gave the company a “hold” rating in a report on Thursday, February 16th. Barclays lifted their price target on Marriott International from $173.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 15th. Finally, Jefferies Financial Group cut Marriott International from a “buy” rating to a “hold” rating and set a $166.00 price objective for the company. in a research report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $180.50.

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.