Bank of Montreal Can Cuts Holdings in Marriott International, Inc. (NASDAQ:MAR)

26 Nov 2024, 12:32 by Tristan Rich · The Markets Daily

Bank of Montreal Can lowered its stake in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 557,624 shares of the company’s stock after selling 28,362 shares during the quarter. Bank of Montreal Can’s holdings in Marriott International were worth $141,101,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bangor Savings Bank lifted its stake in Marriott International by 131.1% during the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after purchasing an additional 59 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Marriott International during the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC bought a new stake in Marriott International in the 2nd quarter worth approximately $28,000. Silvant Capital Management LLC purchased a new stake in Marriott International in the third quarter worth approximately $31,000. Finally, Darwin Wealth Management LLC bought a new position in Marriott International during the third quarter valued at approximately $33,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Marriott International

In other Marriott International news, insider William P. Brown sold 1,707 shares of Marriott International stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $284.30, for a total value of $485,300.10. Following the completion of the transaction, the insider now directly owns 23,077 shares of the company’s stock, valued at approximately $6,560,791.10. The trade was a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total transaction of $137,245.00. Following the sale, the executive vice president now owns 12,286 shares in the company, valued at approximately $3,372,384.14. The trade was a 3.91 % 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 90 days. Corporate insiders own 10.07% of the company’s stock.

Marriott International Price Performance

MAR stock opened at $288.00 on Tuesday. The firm has a 50-day moving average of $262.99 and a 200 day moving average of $243.80. The company has a market cap of $80.03 billion, a P/E ratio of 30.13, a PEG ratio of 5.59 and a beta of 1.58. Marriott International, Inc. has a 1 year low of $200.94 and a 1 year high of $289.63.

Marriott International (NASDAQ:MAR – Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.05). The firm 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 company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.11 earnings per share. On average, equities research analysts expect 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 will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be given a $0.63 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.88%. Marriott International’s dividend payout ratio is currently 26.36%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MAR. Bank of America upped their price objective on shares of Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their price objective on Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Evercore ISI lifted their price target 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. Finally, TD Cowen dropped their price objective on Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $259.00.

Check Out Our Latest Stock Report on Marriott International

Marriott International Company Profile

(Free Report)

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.