ING Groep NV Trims Holdings in Marriott International, Inc. (NASDAQ:MAR)

ING Groep NV trimmed its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 64.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,904 shares of the company’s stock after selling 90,383 shares during the quarter. ING Groep NV’s holdings in Marriott International were worth $12,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bangor Savings Bank boosted its stake in shares of Marriott International by 131.1% in the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock valued at $25,000 after buying an additional 59 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Marriott International during the 2nd quarter worth $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of Marriott International in the second quarter valued at about $28,000. Silvant Capital Management LLC acquired a new stake in shares of Marriott International during the 3rd quarter valued at approximately $31,000. Finally, Unique Wealth Strategies LLC purchased a new position in Marriott International in the 2nd quarter valued at approximately $35,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MAR. JPMorgan Chase & Co. raised their price target on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Robert W. Baird upped their price target on shares of Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. The Goldman Sachs Group assumed coverage on shares of Marriott International in a research note on Wednesday, September 18th. They set a “buy” rating and a $267.00 price objective for the company. Mizuho increased their target price on Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, TD Cowen cut their price target on Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $259.00.

Insiders Place Their Bets

In other Marriott International news, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Capuano sold 8,332 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the completion of the sale, the chief executive officer now owns 108,361 shares in the company, valued at approximately $30,827,620.89. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,108 shares of company stock worth $3,434,439 in the last 90 days. 12.32% of the stock is owned by company insiders.

Marriott International Stock Down 1.6 %

MAR stock opened at $282.02 on Friday. Marriott International, Inc. has a 52 week low of $200.94 and a 52 week high of $289.04. The company has a market cap of $78.37 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 5.63 and a beta of 1.58. The business has a fifty day simple moving average of $254.51 and a 200-day simple moving average of $241.18.

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

Marriott International Dividend Announcement

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

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.