Park Avenue Securities LLC Grows Position in Marriott International, Inc. (NASDAQ:MAR)

Park Avenue Securities LLC grew its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 25.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,522 shares of the company’s stock after buying an additional 708 shares during the period. Park Avenue Securities LLC’s holdings in Marriott International were worth $982,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MAR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Marriott International by 4.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,024,187 shares of the company’s stock valued at $254,613,000 after acquiring an additional 46,563 shares during the last quarter. National Pension Service boosted its holdings in Marriott International by 11.6% in the third quarter. National Pension Service now owns 719,613 shares of the company’s stock valued at $178,896,000 after acquiring an additional 74,832 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Marriott International by 8.4% in the third quarter. Janus Henderson Group PLC now owns 613,052 shares of the company’s stock valued at $152,399,000 after acquiring an additional 47,551 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Marriott International by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock valued at $140,844,000 after acquiring an additional 2,723 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Marriott International by 3.0% during the third quarter. PNC Financial Services Group Inc. now owns 443,103 shares of the company’s stock worth $110,156,000 after purchasing an additional 12,702 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Insider Activity

In other Marriott International news, CFO Kathleen K. Oberg sold 2,360 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $285.41, for a total value of $673,567.60. Following the completion of the sale, the chief financial officer now directly owns 39,726 shares in the company, valued at $11,338,197.66. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Benjamin T. Breland sold 500 shares of the company’s 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 owns 12,286 shares of the company’s stock, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,815 shares of company stock valued at $3,919,739. 10.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Evercore ISI boosted their price objective on Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Mizuho boosted their price objective on Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. BMO Capital Markets boosted their price objective on Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Bank of America boosted their price objective on Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Truist Financial boosted their price target on Marriott International from $254.00 to $277.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $272.15.

Marriott International Stock Up 0.4 %

Shares of Marriott International stock opened at $277.18 on Tuesday. The firm has a market cap of $77.03 billion, a P/E ratio of 28.99, a P/E/G ratio of 4.48 and a beta of 1.57. The business has a 50-day moving average price of $282.53 and a 200 day moving average price of $256.13. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $295.45.

Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.05). The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $2.11 earnings per share. As a group, equities research analysts anticipate that Marriott International, Inc. will post 9.25 earnings per share for the current year.

Marriott International Dividend Announcement

The business also recently announced 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. This represents a $2.52 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Thursday, November 21st. Marriott International’s dividend payout ratio (DPR) is presently 26.36%.

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.