Connable Office Inc. Increases Position in Marriott International, Inc. (NASDAQ:MAR)

Connable Office Inc. increased its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 0.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,435 shares of the company’s stock after acquiring an additional 71 shares during the period. Connable Office Inc.’s holdings in Marriott International were worth $3,091,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Bangor Savings Bank lifted 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 acquiring an additional 59 shares during the period. Hantz Financial Services Inc. acquired a new stake in Marriott International in the second quarter valued at about $26,000. MFA Wealth Advisors LLC acquired a new position in Marriott International during the 2nd quarter worth approximately $28,000. Silvant Capital Management LLC acquired a new position in Marriott International during the 3rd quarter worth approximately $31,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Marriott International in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Insider Transactions at Marriott International

In related news, CFO Kathleen K. Oberg sold 2,360 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $285.41, for a total transaction of $673,567.60. Following the transaction, the chief financial officer now directly owns 39,726 shares of the company’s stock, valued at approximately $11,338,197.66. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 completion of the sale, the executive vice president now directly 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. In the last quarter, insiders sold 12,108 shares of company stock worth $3,434,439. 12.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MAR shares. Evercore ISI raised their target price on Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a report on Monday, October 21st. 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. Barclays increased their target price 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. Robert W. Baird boosted their price target on Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price objective on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $259.00.

Marriott International Trading Down 1.6 %

NASDAQ:MAR opened at $282.02 on Friday. The firm has a market cap of $78.37 billion, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 5.63 and a beta of 1.58. Marriott International, Inc. has a 12-month low of $200.94 and a 12-month high of $289.04. The company’s 50-day moving average is $254.51 and its two-hundred day moving average is $241.18.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share 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 analysts’ expectations of $6.27 billion. During the same period in the prior year, the company earned $2.11 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

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

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.