PointState Capital LP Invests $98.25 Million in Marriott International, Inc. (NASDAQ:MAR)

PointState Capital LP acquired a new position in shares of Marriott International, Inc. (NASDAQ:MAR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 395,208 shares of the company’s stock, valued at approximately $98,249,000. Marriott International accounts for about 1.8% of PointState Capital LP’s portfolio, making the stock its 17th largest holding. PointState Capital LP owned approximately 0.14% of Marriott International as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MAR. Larson Financial Group LLC lifted its holdings in Marriott International by 10.8% during the 3rd quarter. Larson Financial Group LLC now owns 379 shares of the company’s stock valued at $94,000 after purchasing an additional 37 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Marriott International by 0.4% in the third quarter. Harbor Capital Advisors Inc. now owns 8,698 shares of the company’s stock worth $2,162,000 after acquiring an additional 38 shares during the last quarter. Haverford Trust Co raised its stake in shares of Marriott International by 1.0% in the third quarter. Haverford Trust Co now owns 4,207 shares of the company’s stock worth $1,046,000 after acquiring an additional 40 shares during the last quarter. Rockland Trust Co. grew its position in shares of Marriott International by 2.3% during the 2nd quarter. Rockland Trust Co. now owns 1,802 shares of the company’s stock worth $436,000 after buying an additional 41 shares during the period. Finally, Park Avenue Securities LLC grew its position in shares of Marriott International by 1.4% during the 2nd quarter. Park Avenue Securities LLC now owns 3,298 shares of the company’s stock worth $797,000 after buying an additional 46 shares during the period. 70.70% of the stock is owned by institutional investors.

Marriott International Price Performance

Shares of MAR stock opened at $284.93 on Wednesday. The company has a fifty day moving average price of $268.34 and a two-hundred day moving average price of $245.86. The stock has a market cap of $79.18 billion, a P/E ratio of 29.80, a P/E/G ratio of 5.63 and a beta of 1.58. Marriott International, Inc. has a one year low of $202.24 and a one year high of $290.43.

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

Marriott International Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MAR shares. Morgan Stanley lowered their price target on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Macquarie restated a “neutral” rating and set a $245.00 price objective on shares of Marriott International in a report on Tuesday, November 5th. Barclays boosted their price objective on shares of Marriott International from $240.00 to $249.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Wells Fargo & Company boosted their price objective on shares of Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI increased their price objective on shares of Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $260.20.

Insider Buying and Selling

In other Marriott International news, insider William P. Brown sold 1,707 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $284.30, for a total transaction of $485,300.10. Following the completion of the sale, the insider now owns 23,077 shares in the company, valued at approximately $6,560,791.10. The trade was a 6.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Benjamin T. Breland sold 500 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,815 shares of company stock worth $3,919,739 in the last ninety days. Company insiders own 10.07% of the company’s stock.

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.