Kingsview Wealth Management LLC Boosts Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Posted by Defense World Staff on Jun 11th, 2023

Kingsview Wealth Management LLC lifted its position in Marriott International, Inc. (NASDAQ:MAR – Get Rating) by 20.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,558 shares of the company’s stock after purchasing an additional 438 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Marriott International were worth $381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAR. Metis Global Partners LLC boosted its holdings in Marriott International by 37.5% during the 4th quarter. Metis Global Partners LLC now owns 5,627 shares of the company’s stock valued at $838,000 after acquiring an additional 1,535 shares during the period. Fund Management at Engine No. 1 LLC boosted its holdings in Marriott International by 11.7% during the 4th quarter. Fund Management at Engine No. 1 LLC now owns 2,963 shares of the company’s stock valued at $441,000 after acquiring an additional 311 shares during the period. Verity & Verity LLC bought a new position in Marriott International during the 4th quarter valued at approximately $417,000. Advisor Group Holdings Inc. raised its position in Marriott International by 9.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 79,407 shares of the company’s stock valued at $11,824,000 after purchasing an additional 6,953 shares during the last quarter. Finally, Creative Planning raised its position in Marriott International by 10.9% during the 4th quarter. Creative Planning now owns 53,798 shares of the company’s stock valued at $8,010,000 after purchasing an additional 5,280 shares during the last quarter. 58.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marriott International

In other news, EVP Benjamin T. Breland sold 625 shares of the firm’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $163.06, for a total value of $101,912.50. Following the transaction, the executive vice president now directly owns 9,079 shares in the company, valued at approximately $1,480,421.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Benjamin T. Breland sold 625 shares of the firm’s stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $163.06, for a total value of $101,912.50. Following the transaction, the executive vice president now directly owns 9,079 shares in the company, valued at approximately $1,480,421.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Anthony Capuano sold 16,159 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $176.33, for a total value of $2,849,316.47. Following the completion of the transaction, the chief executive officer now owns 157,786 shares in the company, valued at $27,822,405.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,484 shares of company stock worth $3,074,954. Insiders own 12.32% of the company’s stock.

Analyst Upgrades and Downgrades

MAR has been the subject of a number of recent analyst reports. TD Cowen upped their price target on Marriott International from $170.00 to $172.00 and gave the company an “outperform” rating in a research report on Tuesday, March 28th. Truist Financial upped their price target on Marriott International from $185.00 to $205.00 and gave the company a “hold” rating in a research report on Thursday, February 16th. Barclays increased their target price on Marriott International from $176.00 to $188.00 in a research report on Wednesday, May 3rd. Credit Suisse Group increased their target price on Marriott International from $185.00 to $205.00 and gave the stock a “hold” rating in a research report on Thursday, February 16th. Finally, BMO Capital Markets increased their target price on Marriott International from $163.00 to $183.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Marriott International currently has a consensus rating of “Hold” and an average price target of $184.00.

Marriott International Stock Performance

Marriott International stock opened at $179.01 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 73.56. The company has a market capitalization of $54.30 billion, a P/E ratio of 20.94, a PEG ratio of 1.37 and a beta of 1.58. The stock’s 50 day moving average is $172.11 and its 200 day moving average is $166.43. Marriott International, Inc. has a twelve month low of $131.01 and a twelve month high of $183.27.

Marriott International (NASDAQ:MAR – Get Rating) last issued its earnings results on Tuesday, May 2nd. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.86 by $0.23. Marriott International had a return on equity of 272.54% and a net margin of 12.34%. The business had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period last year, the business posted $1.25 EPS. The company’s revenue was up 33.7% compared to the same quarter last year. On average, equities research analysts predict that Marriott International, Inc. will post 8.39 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, May 26th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.16%. This is an increase from Marriott International’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 25th. Marriott International’s dividend payout ratio (DPR) is currently 24.33%.

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.