Perigon Wealth Management LLC Boosts Stake in Marriott International, Inc. (NASDAQ:MAR)

Perigon Wealth Management LLC boosted its position in Marriott International, Inc. (NASDAQ:MAR) by 14.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,767 shares of the company’s stock after acquiring an additional 353 shares during the quarter. Perigon Wealth Management LLC’s holdings in Marriott International were worth $764,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Jensen Investment Management Inc. purchased a new position in shares of Marriott International during the 3rd quarter valued at about $793,000. BayBridge Capital Group LLC purchased a new position in shares of Marriott International during the third quarter worth approximately $1,254,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Marriott International by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock worth $140,844,000 after acquiring an additional 2,723 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Marriott International during the 3rd quarter valued at $2,721,000. Finally, Kinsale Capital Group Inc. purchased a new position in Marriott International in the 3rd quarter worth $3,769,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Trading Down 0.7 %

Shares of MAR stock opened at $290.59 on Friday. The company’s fifty day moving average price is $282.93 and its 200-day moving average price is $258.68. The stock has a market cap of $80.75 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 4.65 and a beta of 1.57. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $295.45.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter last year, the company posted $2.11 EPS. Marriott International’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 0.87%. Marriott International’s payout ratio is presently 26.36%.

Insider Transactions at Marriott International

In related news, insider William P. Brown sold 1,707 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $284.30, for a total value of $485,300.10. Following the transaction, the insider now directly owns 23,077 shares of the company’s stock, valued at approximately $6,560,791.10. This represents a 6.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony Capuano sold 8,332 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $284.49, for a total value of $2,370,370.68. Following the completion of the transaction, the chief executive officer now owns 108,361 shares of the company’s stock, valued at $30,827,620.89. This represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,815 shares of company stock valued at $3,919,739 in the last quarter. 12.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Cowen reduced their price objective on Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Barclays lifted their price target on Marriott International from $249.00 to $286.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. BMO Capital Markets increased their price objective on Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Bank of America lifted their target price on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Evercore ISI increased their price target on shares of Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $272.15.

Marriott International Profile

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, City Express by Marriott, and St.