Cottage Street Advisors LLC Has $2.76 Million Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Cottage Street Advisors LLC lessened its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,900 shares of the company’s stock after selling 100 shares during the quarter. Marriott International comprises about 1.4% of Cottage Street Advisors LLC’s portfolio, making the stock its 24th largest holding. Cottage Street Advisors LLC’s holdings in Marriott International were worth $2,762,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. NewEdge Wealth LLC boosted its stake in shares of Marriott International by 34.4% in the fourth quarter. NewEdge Wealth LLC now owns 4,345 shares of the company’s stock valued at $1,212,000 after buying an additional 1,112 shares during the period. Oddo BHF Asset Management Sas bought a new stake in shares of Marriott International during the 3rd quarter valued at $2,721,000. Union Bancaire Privee UBP SA bought a new position in shares of Marriott International in the fourth quarter worth $2,990,000. Markel Group Inc. lifted its position in Marriott International by 30.6% during the fourth quarter. Markel Group Inc. now owns 47,000 shares of the company’s stock worth $13,110,000 after purchasing an additional 11,000 shares during the period. Finally, Covea Finance boosted its position in Marriott International by 69.9% in the fourth quarter. Covea Finance now owns 60,540 shares of the company’s stock valued at $16,887,000 after buying an additional 24,900 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Insiders Place Their Bets

In related news, insider William P. Brown sold 12,642 shares of Marriott International stock in a transaction on Friday, February 21st. The shares were sold at an average price of $285.63, for a total value of $3,610,934.46. Following the sale, the insider now owns 30,919 shares in the company, valued at $8,831,393.97. The trade was a 29.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kathleen K. Oberg sold 14,498 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the completion of the sale, the chief financial officer now directly owns 14,282 shares of the company’s stock, valued at approximately $3,971,395.74. This represents a 50.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,694 shares of company stock valued at $8,938,132 over the last 90 days. Insiders own 12.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MAR. The Goldman Sachs Group increased their price target on Marriott International from $280.00 to $314.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Evercore ISI upgraded Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price target for the company in a report on Tuesday, February 4th. Jefferies Financial Group upped their target price on Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their target price on Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, Mizuho increased their price target on Marriott International from $246.00 to $293.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $286.05.

Marriott International Price Performance

NASDAQ MAR opened at $246.48 on Wednesday. The stock has a market capitalization of $67.95 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 3.42 and a beta of 1.58. Marriott International, Inc. has a one year low of $204.55 and a one year high of $307.52. The business’s fifty day moving average is $274.34 and its 200-day moving average is $270.60.

Marriott International (NASDAQ:MAR) last posted its earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. Research analysts expect that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, February 27th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.52 dividend on an annualized basis and a yield of 1.02%. Marriott International’s payout ratio is 30.29%.

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.