Paloma Partners Management Co Sells 6,257 Shares of Marriott International, Inc. (NASDAQ:MAR)

Paloma Partners Management Co decreased its holdings in Marriott International, Inc. (NASDAQ:MAR) by 64.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,500 shares of the company’s stock after selling 6,257 shares during the quarter. Paloma Partners Management Co’s holdings in Marriott International were worth $870,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bangor Savings Bank increased its stake in shares of Marriott International by 131.1% in the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after purchasing an additional 59 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Marriott International in the second quarter worth about $26,000. MFA Wealth Advisors LLC purchased a new position in shares of Marriott International during the 2nd quarter valued at about $28,000. Silvant Capital Management LLC purchased a new stake in Marriott International in the 3rd quarter worth approximately $31,000. Finally, Darwin Wealth Management LLC bought a new stake in Marriott International during the 3rd quarter worth approximately $33,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MAR. Truist Financial reduced 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 note on Tuesday, August 6th. TD Cowen decreased their price target on Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Barclays increased their target price on Marriott International from $240.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Morgan Stanley lowered their price target on Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group initiated coverage on shares of Marriott International in a research report on Wednesday, September 18th. They set a “buy” rating and a $267.00 price objective on the stock. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Marriott International has an average rating of “Hold” and an average target price of $260.20.

Insider Activity at Marriott International

In related news, insider William P. Brown sold 1,707 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $284.30, for a total value of $485,300.10. Following the transaction, the insider now owns 23,077 shares of the company’s stock, valued at $6,560,791.10. This represents a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony Capuano sold 8,332 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total value of $2,370,370.68. Following the transaction, the chief executive officer now owns 108,361 shares in the company, valued at approximately $30,827,620.89. This represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,815 shares of company stock worth $3,919,739 in the last quarter. 10.07% of the stock is owned by company insiders.

Marriott International Stock Performance

Shares of Marriott International stock opened at $286.24 on Tuesday. The stock has a 50 day moving average price of $266.70 and a 200-day moving average price of $245.20. Marriott International, Inc. has a one year low of $202.24 and a one year high of $290.43. The stock has a market cap of $79.54 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 5.69 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last announced its 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 during the quarter, compared to analysts’ expectations 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 was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.11 EPS. Sell-side analysts predict that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be paid a dividend of $0.63 per share. 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 currently 26.36%.

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.