Raymond James Trust N.A. Sells 393 Shares of Marriott International, Inc. (NASDAQ:MAR)

Raymond James Trust N.A. lessened its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 5.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,078 shares of the company’s stock after selling 393 shares during the period. Raymond James Trust N.A.’s holdings in Marriott International were worth $1,760,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Bangor Savings Bank boosted its position 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 period. Hantz Financial Services Inc. acquired a new position in Marriott International in the 2nd quarter valued at $26,000. MFA Wealth Advisors LLC bought a new position in Marriott International in the 2nd quarter worth $28,000. Silvant Capital Management LLC bought a new stake in Marriott International during the third quarter valued at about $31,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Marriott International in the third quarter valued at about $33,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Stock Performance

Shares of NASDAQ:MAR opened at $284.29 on Friday. The company’s fifty day moving average is $261.88 and its 200-day moving average is $243.39. Marriott International, Inc. has a 52 week low of $200.94 and a 52 week high of $289.04. The company has a market capitalization of $79.00 billion, a PE ratio of 29.74, a P/E/G ratio of 5.58 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings data 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 analyst estimates of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.11 EPS. On average, analysts forecast that Marriott International, Inc. will post 9.26 EPS for the current year.

Marriott International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International’s payout ratio is presently 26.36%.

Analysts Set New Price Targets

Several analysts recently weighed in on MAR shares. Morgan Stanley decreased their target price on Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Truist Financial lowered their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Macquarie reiterated a “neutral” rating and set a $245.00 target price on shares of Marriott International in a research note on Tuesday, November 5th. BMO Capital Markets boosted their price objective on shares of Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Finally, UBS Group reduced their target price on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Marriott International has an average rating of “Hold” and a consensus target price of $259.00.

Insider Activity at Marriott International

In related news, CEO Anthony Capuano sold 8,332 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 108,361 shares in the company, valued at $30,827,620.89. The trade was a 7.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kathleen K. Oberg sold 2,360 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $285.41, for a total value of $673,567.60. Following the completion of the transaction, the chief financial officer now owns 39,726 shares in the company, valued at $11,338,197.66. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,108 shares of company stock valued at $3,434,439 over the last ninety days. 12.32% of the stock is 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.