Cornerstone Advisors LLC Purchases 200 Shares of Marriott International, Inc. (NASDAQ:MAR)

Cornerstone Advisors LLC boosted its holdings in Marriott International, Inc. (NASDAQ:MAR) by 4.5% during the third quarter, Holdings Channel reports. The fund owned 4,600 shares of the company’s stock after purchasing an additional 200 shares during the period. Cornerstone Advisors LLC’s holdings in Marriott International were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of MAR. BDF Gestion acquired a new stake in shares of Marriott International in the second quarter valued at approximately $3,013,000. Jensen Investment Management Inc. acquired a new stake in shares of Marriott International during the third quarter valued at about $793,000. CWM LLC increased its position in Marriott International by 518.7% in the 2nd quarter. CWM LLC now owns 47,519 shares of the company’s stock valued at $11,489,000 after acquiring an additional 39,839 shares during the period. BayBridge Capital Group LLC bought a new position in Marriott International during the 3rd quarter worth $1,254,000. Finally, Kinsale Capital Group Inc. acquired a new position in shares of Marriott International in the third quarter worth approximately $3,769,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Stock Performance

Marriott International stock opened at $283.23 on Friday. Marriott International, Inc. has a fifty-two week low of $200.94 and a fifty-two week high of $289.04. The company has a market capitalization of $78.71 billion, a PE ratio of 29.63, a P/E/G ratio of 5.49 and a beta of 1.58. The company has a 50 day moving average price of $260.83 and a 200-day moving average price of $243.01.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the firm earned $2.11 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current year.

Marriott International Dividend Announcement

The firm 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 $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, November 21st. Marriott International’s dividend payout ratio (DPR) is presently 26.36%.

Insider Transactions at Marriott International

In other news, CFO Kathleen K. Oberg sold 2,360 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was 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 of the company’s stock, valued at $11,338,197.66. The trade was a 5.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony Capuano sold 8,332 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the sale, the chief executive officer now directly owns 108,361 shares in the company, valued at $30,827,620.89. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,108 shares of company stock worth $3,434,439. Insiders own 12.32% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TD Cowen cut their price target on shares of Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley reduced their price objective on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Truist Financial dropped their price target on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. The Goldman Sachs Group assumed coverage on Marriott International in a report on Wednesday, September 18th. They issued a “buy” rating and a $267.00 target price on the stock. Finally, BMO Capital Markets increased their price target on Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marriott International currently has a consensus rating of “Hold” and a consensus price target of $259.00.

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.