Geode Capital Management LLC Cuts Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Geode Capital Management LLC lessened its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,966,071 shares of the company’s stock after selling 64,160 shares during the quarter. Geode Capital Management LLC owned approximately 1.79% of Marriott International worth $1,230,046,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAR. Wealth Enhancement Advisory Services LLC lifted its position in shares of Marriott International by 1.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 39,751 shares of the company’s stock valued at $9,611,000 after buying an additional 753 shares in the last quarter. ORG Partners LLC lifted its holdings in Marriott International by 77.5% during the second quarter. ORG Partners LLC now owns 197 shares of the company’s stock valued at $47,000 after purchasing an additional 86 shares in the last quarter. PGGM Investments increased its stake in shares of Marriott International by 8.4% during the second quarter. PGGM Investments now owns 20,348 shares of the company’s stock worth $4,920,000 after purchasing an additional 1,572 shares in the last quarter. SteelPeak Wealth LLC raised its position in shares of Marriott International by 24.9% during the 2nd quarter. SteelPeak Wealth LLC now owns 3,595 shares of the company’s stock worth $869,000 after purchasing an additional 716 shares during the last quarter. Finally, Montecito Bank & Trust boosted its holdings in Marriott International by 33.3% in the 2nd quarter. Montecito Bank & Trust now owns 2,635 shares of the company’s stock worth $637,000 after buying an additional 658 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MAR has been the topic of several research reports. TD Cowen decreased their target price on Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Bank of America upped their target price on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Sanford C. Bernstein raised their price target on shares of Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Truist Financial increased their price objective on shares of Marriott International from $254.00 to $277.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets boosted their target price on Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Marriott International has a consensus rating of “Hold” and an average price target of $263.70.

Marriott International Price Performance

Shares of Marriott International stock opened at $287.67 on Wednesday. The stock has a market capitalization of $79.94 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 5.76 and a beta of 1.58. The business has a 50-day moving average of $271.61 and a 200 day moving average of $247.38. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $295.45.

Marriott International (NASDAQ:MAR) last released its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. Marriott International’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.11 earnings per share. Equities research analysts anticipate that Marriott International, Inc. will post 9.26 earnings per share for the current year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International’s dividend payout ratio is presently 26.36%.

Insider Transactions at Marriott International

In other news, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total value of $137,245.00. Following the completion of the sale, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. This represents a 3.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony Capuano sold 8,332 shares of Marriott International stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the completion of the transaction, the chief executive officer now directly owns 108,361 shares in the company, valued at $30,827,620.89. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,815 shares of company stock valued at $3,919,739. Insiders own 12.32% of the company’s stock.

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.