Choreo LLC Raises Position in Marriott International, Inc. (NASDAQ:MAR)

Choreo LLC raised its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 19.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,954 shares of the company’s stock after purchasing an additional 2,781 shares during the period. Choreo LLC’s holdings in Marriott International were worth $3,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Parnassus Investments LLC bought a new stake in shares of Marriott International during the third quarter worth $481,621,000. FMR LLC lifted its position in shares of Marriott International by 16.1% during the third quarter. FMR LLC now owns 8,634,610 shares of the company’s stock worth $1,697,219,000 after purchasing an additional 1,194,665 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Marriott International by 34.8% during the fourth quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock worth $1,025,416,000 after purchasing an additional 1,173,028 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Marriott International by 1,487.6% during the fourth quarter. International Assets Investment Management LLC now owns 345,246 shares of the company’s stock worth $77,856,000 after purchasing an additional 323,500 shares during the last quarter. Finally, Raymond James & Associates lifted its position in shares of Marriott International by 33.0% during the third quarter. Raymond James & Associates now owns 540,684 shares of the company’s stock worth $106,277,000 after purchasing an additional 134,079 shares during the last quarter. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Marriott International Price Performance

MAR opened at $240.49 on Tuesday. The business’s 50-day moving average is $248.34 and its two-hundred day moving average is $227.74. Marriott International, Inc. has a 1 year low of $165.13 and a 1 year high of $260.57. The firm has a market capitalization of $69.49 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 5.37 and a beta of 1.62.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $2.12 by $1.45. The business had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $6.20 billion. Marriott International had a negative return on equity of 848.49% and a net margin of 13.00%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $1.96 earnings per share. As a group, sell-side analysts expect that Marriott International, Inc. will post 9.46 EPS for the current year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 22nd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Wednesday, February 21st. Marriott International’s dividend payout ratio is presently 20.41%.

Insiders Place Their Bets

In other Marriott International news, CEO Anthony Capuano sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $248.48, for a total value of $4,969,600.00. Following the completion of the sale, the chief executive officer now owns 93,323 shares of the company’s stock, valued at $23,188,899.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Anthony Capuano sold 20,000 shares of Marriott International stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $248.48, for a total transaction of $4,969,600.00. Following the completion of the sale, the chief executive officer now owns 93,323 shares of the company’s stock, valued at $23,188,899.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kathleen K. Oberg sold 47,109 shares of Marriott International stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $242.71, for a total value of $11,433,825.39. Following the sale, the chief financial officer now directly owns 20,036 shares of the company’s stock, valued at approximately $4,862,937.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 125,003 shares of company stock valued at $30,435,493. 10.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MAR has been the subject of several research analyst reports. Robert W. Baird decreased their target price on Marriott International from $250.00 to $248.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. BMO Capital Markets raised their price target on Marriott International from $230.00 to $235.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. UBS Group raised their price target on Marriott International from $210.00 to $259.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Truist Financial raised their price target on Marriott International from $233.00 to $263.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Finally, Wells Fargo & Company raised their price target on Marriott International from $234.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, March 18th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $236.69.

About Marriott International

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.