Marriott International, Inc. (NASDAQ:MAR) Stock Position Cut by Summit Financial LLC

Summit Financial LLC reduced its stake in Marriott International, Inc. (NASDAQ:MAR) by 30.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,765 shares of the company’s stock after selling 2,520 shares during the period. Summit Financial LLC’s holdings in Marriott International were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in MAR. NewEdge Wealth LLC lifted its holdings in Marriott International by 34.4% in the 4th quarter. NewEdge Wealth LLC now owns 4,345 shares of the company’s stock valued at $1,212,000 after acquiring an additional 1,112 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in Marriott International during the third quarter worth approximately $2,721,000. Union Bancaire Privee UBP SA acquired a new position in Marriott International in the fourth quarter worth approximately $2,990,000. Markel Group Inc. increased its holdings in shares of Marriott International by 30.6% in the fourth quarter. Markel Group Inc. now owns 47,000 shares of the company’s stock valued at $13,110,000 after buying an additional 11,000 shares in the last quarter. Finally, Covea Finance boosted its stake in shares of Marriott International by 69.9% during the 4th quarter. Covea Finance now owns 60,540 shares of the company’s stock worth $16,887,000 after acquiring an additional 24,900 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Insider Buying and Selling at Marriott International

In other news, EVP Rena Hozore Reiss sold 3,500 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $286.65, for a total value of $1,003,275.00. Following the sale, the executive vice president now directly owns 24,733 shares of the company’s stock, valued at approximately $7,089,714.45. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 1,054 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $277.48, for a total value of $292,463.92. Following the transaction, the director now directly owns 4,551 shares of the company’s stock, valued at $1,262,811.48. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,694 shares of company stock worth $8,938,132 over the last 90 days. Insiders own 12.32% of the company’s stock.

Marriott International Stock Performance

Shares of MAR opened at $238.24 on Wednesday. The firm has a market cap of $65.68 billion, a PE ratio of 28.63, a PEG ratio of 3.42 and a beta of 1.58. Marriott International, Inc. has a twelve month low of $204.55 and a twelve month high of $307.52. The firm’s 50 day moving average price is $270.75 and its 200 day moving average price is $271.02.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. On average, sell-side analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, February 27th were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.52 annualized dividend and a yield of 1.06%. Marriott International’s dividend payout ratio (DPR) is currently 30.29%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MAR shares. Jefferies Financial Group upped their target price on Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. Barclays reduced their price objective on shares of Marriott International from $287.00 to $283.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Evercore ISI upgraded shares of Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price target on the stock in a report on Tuesday, February 4th. Truist Financial lowered their price objective on shares of Marriott International from $308.00 to $300.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Finally, Morgan Stanley increased their target price on Marriott International from $289.00 to $298.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Marriott International currently has an average rating of “Hold” and a consensus price target of $286.05.

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, City Express by Marriott, and St.