Penserra Capital Management LLC Has $1.89 Million Position in Marriott International, Inc. (NASDAQ:MAR)

Penserra Capital Management LLC trimmed its holdings in Marriott International, Inc. (NASDAQ:MAR) by 22.3% during the third quarter, Holdings Channel reports. The institutional investor owned 7,620 shares of the company’s stock after selling 2,182 shares during the quarter. Penserra Capital Management LLC’s holdings in Marriott International were worth $1,893,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Canoe Financial LP bought a new stake in Marriott International during the 3rd quarter worth approximately $77,331,000. International Assets Investment Management LLC raised its position in Marriott International by 15,148.3% in the 3rd quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock valued at $75,208,000 after buying an additional 300,543 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Marriott International by 36,856.7% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock valued at $58,346,000 after acquiring an additional 240,674 shares in the last quarter. AXA S.A. grew its stake in shares of Marriott International by 133.4% in the 2nd quarter. AXA S.A. now owns 221,045 shares of the company’s stock worth $53,442,000 after acquiring an additional 126,323 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in shares of Marriott International by 629.7% in the third quarter. Mizuho Securities USA LLC now owns 134,973 shares of the company’s stock valued at $33,554,000 after purchasing an additional 116,477 shares during the last quarter. 70.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MAR. 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 research report on Tuesday, August 6th. Evercore ISI increased their price target on Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Robert W. Baird boosted their price objective on Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their target price on Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $259.00.

Insider Buying and Selling

In related news, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total value of $137,245.00. Following the transaction, the executive vice president now owns 12,286 shares of the company’s stock, valued at $3,372,384.14. This represents a 3.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen K. Oberg sold 2,360 shares of Marriott International 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 sale, the chief financial officer now directly owns 39,726 shares of the company’s stock, valued at approximately $11,338,197.66. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,815 shares of company stock worth $3,919,739 over the last ninety days. 10.07% of the stock is owned by corporate insiders.

Marriott International Stock Performance

NASDAQ:MAR opened at $288.00 on Tuesday. Marriott International, Inc. has a 52-week low of $200.94 and a 52-week high of $289.63. The business’s fifty day moving average is $262.99 and its 200 day moving average is $243.80. The firm has a market cap of $80.03 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 5.59 and a beta of 1.58.

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

Marriott International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.88%. Marriott International’s dividend payout ratio (DPR) 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.