Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Gofen & Glossberg LLC IL

Posted by Defense World Staff on Mar 24th, 2023

Gofen & Glossberg LLC IL cut its stake in shares of Marriott International, Inc. (NASDAQ:MAR – Get Rating) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,386 shares of the company’s stock after selling 79 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Marriott International were worth $355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Advisors Asset Management Inc. boosted its position in shares of Marriott International by 28.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 20,131 shares of the company’s stock worth $2,821,000 after buying an additional 4,427 shares in the last quarter. Calamos Wealth Management LLC purchased a new stake in shares of Marriott International in the 3rd quarter worth about $874,000. Alta Advisers Ltd purchased a new stake in shares of Marriott International in the 3rd quarter worth about $112,000. ExodusPoint Capital Management LP boosted its position in shares of Marriott International by 138.4% in the 2nd quarter. ExodusPoint Capital Management LP now owns 61,975 shares of the company’s stock worth $8,429,000 after buying an additional 35,975 shares in the last quarter. Finally, WCG Wealth Advisors LLC purchased a new stake in shares of Marriott International in the 2nd quarter worth about $333,000. 58.97% of the stock is owned by institutional investors and hedge funds.

Marriott International Trading Down 2.0 %

Shares of MAR stock opened at $159.98 on Friday. The firm has a market cap of $49.29 billion, a P/E ratio of 22.04, a PEG ratio of 0.70 and a beta of 1.58. Marriott International, Inc. has a 1-year low of $131.01 and a 1-year high of $195.90. The company has a debt-to-equity ratio of 16.51, a current ratio of 0.45 and a quick ratio of 0.45. The firm’s 50-day simple moving average is $169.49 and its 200-day simple moving average is $158.92.

Marriott International (NASDAQ:MAR – Get Rating) last posted its earnings results on Tuesday, February 14th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.38 billion. Marriott International had a net margin of 11.35% and a return on equity of 168.43%. The company’s revenue was up 33.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. As a group, equities analysts forecast that Marriott International, Inc. will post 7.75 EPS for the current year.

Marriott International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, February 24th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, February 23rd. This is an increase from Marriott International’s previous quarterly dividend of $0.30. Marriott International’s dividend payout ratio is 22.04%.

Insider Buying and Selling

In related news, insider Rajeev Menon sold 6,000 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $176.17, for a total transaction of $1,057,020.00. Following the completion of the sale, the insider now owns 12,000 shares of the company’s stock, valued at approximately $2,114,040. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Marriott International news, insider William P. Brown sold 2,500 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $170.03, for a total value of $425,075.00. Following the completion of the sale, the insider now owns 17,738 shares of the company’s stock, valued at $3,015,992.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rajeev Menon sold 6,000 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $176.17, for a total transaction of $1,057,020.00. Following the completion of the sale, the insider now directly owns 12,000 shares of the company’s stock, valued at approximately $2,114,040. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,086 shares of company stock valued at $3,860,436. 12.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on MAR shares. Truist Financial boosted their price objective on shares of Marriott International from $185.00 to $205.00 and gave the stock a “hold” rating in a research report on Thursday, February 16th. Barclays upped their target price on shares of Marriott International from $173.00 to $176.00 and gave the company an “equal weight” rating in a report on Wednesday, February 15th. Robert W. Baird upped their target price on shares of Marriott International from $183.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, February 27th. Jefferies Financial Group lowered shares of Marriott International from a “buy” rating to a “hold” rating and set a $166.00 target price on the stock. in a report on Monday, January 9th. Finally, Morgan Stanley upped their target price on shares of Marriott International from $193.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $180.50.

Marriott International Company 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.