ETF Managers Group LLC Purchases 61 Shares of Marriott International, Inc. (NASDAQ:MAR)

Posted by Defense World Staff on Jun 30th, 2023

ETF Managers Group LLC grew its position in Marriott International, Inc. (NASDAQ:MAR – Free Report) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,124 shares of the company’s stock after purchasing an additional 61 shares during the period. ETF Managers Group LLC’s holdings in Marriott International were worth $685,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. ICA Group Wealth Management LLC bought a new stake in shares of Marriott International in the fourth quarter valued at about $28,000. VitalStone Financial LLC bought a new stake in shares of Marriott International in the fourth quarter valued at about $25,000. Resurgent Financial Advisors LLC bought a new stake in shares of Marriott International in the fourth quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE bought a new stake in Marriott International during the fourth quarter worth about $26,000. Finally, Coppell Advisory Solutions Corp. bought a new stake in Marriott International during the fourth quarter worth about $28,000. 58.53% of the stock is currently owned by institutional investors.

Marriott International Trading Up 2.0 %

Shares of NASDAQ:MAR opened at $181.27 on Friday. The company has a market capitalization of $54.99 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.36 and a beta of 1.58. Marriott International, Inc. has a 1 year low of $133.07 and a 1 year high of $183.33. The company has a debt-to-equity ratio of 73.56, a current ratio of 0.47 and a quick ratio of 0.47. The business’s 50 day simple moving average is $175.07 and its 200 day simple moving average is $167.88.

Marriott International (NASDAQ:MAR – Free Report) last issued its quarterly earnings results on Tuesday, May 2nd. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. The business had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $5.44 billion. Marriott International had a return on equity of 272.54% and a net margin of 12.34%. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 earnings per share. On average, research analysts anticipate that Marriott International, Inc. will post 8.41 EPS for the current fiscal year.

Marriott International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, May 26th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, May 25th. This represents a $2.08 dividend on an annualized basis and a yield of 1.15%. This is an increase from Marriott International’s previous quarterly dividend of $0.40. Marriott International’s dividend payout ratio is currently 24.33%.

Insider Buying and Selling at Marriott International

In other Marriott International news, 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 sale, the chief executive officer now owns 157,786 shares of the company’s stock, valued at approximately $27,822,405.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Eric Hippeau sold 4,300 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $174.39, for a total transaction of $749,877.00. Following the sale, the director now owns 4,072 shares of the company’s stock, valued at approximately $710,116.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony Capuano sold 16,159 shares of the firm’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $176.33, for a total value of $2,849,316.47. Following the sale, the chief executive officer now directly owns 157,786 shares in the company, valued at approximately $27,822,405.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,659 shares of company stock valued at $3,994,613. 12.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MAR. Deutsche Bank Aktiengesellschaft upped their target price on Marriott International from $168.00 to $177.00 in a report on Wednesday, May 3rd. StockNews.com upgraded Marriott International from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. 51job reiterated a “maintains” rating on shares of Marriott International in a report on Wednesday, May 3rd. TD Cowen upped their price objective on Marriott International from $170.00 to $172.00 and gave the company an “outperform” rating in a research note on Tuesday, March 28th. Finally, Morgan Stanley upped their price objective on Marriott International from $201.00 to $208.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $184.69.

Marriott International Profile

(Free Report)

Marriott International, Inc operates, franchises, and licenses hotel, residential, timeshare, and other lodging properties worldwide. The company operates through U.S. and Canada, and International segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.