Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC reduced its position in Marriott International, Inc. (NASDAQ:MAR) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,912 shares of the company’s stock after selling 224 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Marriott International were worth $1,718,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. BDF Gestion acquired a new stake in Marriott International during the 2nd quarter worth approximately $3,013,000. CWM LLC raised its stake in shares of Marriott International by 518.7% in the second quarter. CWM LLC now owns 47,519 shares of the company’s stock valued at $11,489,000 after acquiring an additional 39,839 shares in the last quarter. BayBridge Capital Group LLC acquired a new position in Marriott International during the 3rd quarter worth $1,254,000. Susquehanna Fundamental Investments LLC purchased a new stake in Marriott International during the 2nd quarter worth about $3,844,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Marriott International by 1.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 39,751 shares of the company’s stock valued at $9,611,000 after purchasing an additional 753 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MAR. Morgan Stanley cut their target price on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Sanford C. Bernstein increased their price objective on shares of Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday. Truist Financial decreased their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Wells Fargo & Company raised their price target 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $259.00.

Marriott International Stock Performance

Shares of MAR opened at $277.68 on Friday. The firm has a 50-day simple moving average of $249.39 and a 200-day simple moving average of $239.69. The company has a market capitalization of $78.17 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 6.21 and a beta of 1.58. Marriott International, Inc. has a fifty-two week low of $192.04 and a fifty-two week high of $278.50.

Marriott International (NASDAQ:MAR) last released its quarterly 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 analysts’ expectations of $6.27 billion. Marriott International had a negative return on equity of 207.04% and a net margin of 11.18%. Marriott International’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.11 EPS. Equities research analysts forecast that Marriott International, Inc. will post 9.27 EPS for the current year.

Marriott International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 yield of 0.91%. Marriott International’s payout ratio is currently 26.36%.

Insiders Place Their Bets

In related news, EVP Benjamin T. Breland sold 500 shares of Marriott International 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 sale, the executive vice president now directly owns 12,286 shares in the company, valued at $3,372,384.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.32% of the stock is currently owned by insiders.

Marriott International Company 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.