Wealth Enhancement Advisory Services LLC Takes $369,000 Position in Marriott International, Inc. (NASDAQ:MAR)

Posted by Defense World Staff on Jul 13th, 2023

Wealth Enhancement Advisory Services LLC bought a new stake in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,223 shares of the company’s stock, valued at approximately $369,000.

Other hedge funds have also recently modified their holdings of the company. Morgan Stanley lifted its holdings in shares of Marriott International by 52.7% during the 4th quarter. Morgan Stanley now owns 4,811,245 shares of the company’s stock valued at $716,346,000 after purchasing an additional 1,659,637 shares during the last quarter. Norges Bank acquired a new stake in Marriott International in the 4th quarter worth about $326,980,000. Arrowstreet Capital Limited Partnership boosted its holdings in Marriott International by 1,066.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,157,619 shares of the company’s stock worth $379,202,000 after buying an additional 1,972,684 shares during the last quarter. Boston Partners boosted its holdings in Marriott International by 1.8% in the 4th quarter. Boston Partners now owns 1,380,825 shares of the company’s stock worth $205,701,000 after buying an additional 24,927 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Marriott International by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,311,374 shares of the company’s stock worth $230,474,000 after buying an additional 31,977 shares during the last quarter. Institutional investors own 58.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Eric Hippeau sold 4,300 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $174.39, for a total transaction of $749,877.00. Following the completion of the transaction, the director now directly owns 4,072 shares of the company’s stock, valued at $710,116.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Marriott International news, Director Eric Hippeau sold 4,300 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $174.39, for a total transaction of $749,877.00. Following the transaction, the director now directly owns 4,072 shares in the company, valued at $710,116.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony Capuano sold 16,159 shares of the company’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $176.33, for a total transaction of $2,849,316.47. Following 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. Insiders sold 22,659 shares of company stock valued at $3,994,613 over the last ninety days. Corporate insiders own 12.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Marriott International from $190.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, March 30th. TD Cowen raised their target price on shares of Marriott International from $170.00 to $172.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 28th. Sanford C. Bernstein raised shares of Marriott International from a “market perform” rating to an “outperform” rating and set a $204.00 target price on the stock in a research note on Wednesday, May 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Marriott International from $168.00 to $177.00 in a research note on Wednesday, May 3rd. Finally, StockNews.com lowered shares of Marriott International from a “buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $184.69.

Marriott International Price Performance

Shares of NASDAQ:MAR opened at $190.01 on Thursday. The company has a 50-day simple moving average of $177.58 and a 200-day simple moving average of $169.98. Marriott International, Inc. has a one year low of $135.70 and a one year high of $193.30. The company has a debt-to-equity ratio of 73.56, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $57.64 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.46 and a beta of 1.57.

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

Marriott International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, May 26th were issued a dividend of $0.52 per share. This is a boost from Marriott International’s previous quarterly dividend of $0.40. This represents a $2.08 annualized dividend and a yield of 1.09%. The ex-dividend date was Thursday, May 25th. Marriott International’s dividend payout ratio is currently 24.33%.

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.