Marriott International, Inc. (NASDAQ:MAR) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in Marriott International, Inc. (NASDAQ:MAR) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,964 shares of the company’s stock after buying an additional 2,994 shares during the quarter. CIBC Asset Management Inc’s holdings in Marriott International were worth $20,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MAR. Capital International Investors raised its stake in shares of Marriott International by 4.7% during the first quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock worth $831,836,000 after purchasing an additional 149,378 shares during the last quarter. National Pension Service boosted its holdings in shares of Marriott International by 11.6% in the third quarter. National Pension Service now owns 719,613 shares of the company’s stock valued at $178,896,000 after acquiring an additional 74,832 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Marriott International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 679,757 shares of the company’s stock worth $164,355,000 after acquiring an additional 33,149 shares during the period. First Pacific Advisors LP increased its position in Marriott International by 2.1% during the 2nd quarter. First Pacific Advisors LP now owns 613,205 shares of the company’s stock worth $148,255,000 after purchasing an additional 12,499 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Marriott International by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock worth $140,844,000 after buying an additional 2,723 shares in the last quarter. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Marriott International Stock Performance

MAR opened at $278.78 on Friday. Marriott International, Inc. has a 1 year low of $200.94 and a 1 year high of $289.04. The company’s 50 day simple moving average is $255.57 and its 200 day simple moving average is $241.46. The stock has a market capitalization of $77.47 billion, a PE ratio of 29.16, a P/E/G ratio of 5.63 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last released 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 firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the previous year, the company earned $2.11 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be issued a $0.63 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.52 annualized dividend and a yield of 0.90%. Marriott International’s dividend payout ratio is currently 26.36%.

Insider Buying and Selling at Marriott International

In other Marriott International news, EVP Benjamin T. Breland sold 500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value 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 represents a 3.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Felitia Lee sold 916 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total value of $253,255.68. Following the transaction, the chief accounting officer now owns 5,609 shares of the company’s stock, valued at approximately $1,550,776.32. This trade represents a 14.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,108 shares of company stock valued at $3,434,439 over the last three months. 12.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MAR shares. Evercore ISI increased their price objective on Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Macquarie reiterated a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on shares of Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Truist Financial reduced their price objective on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Finally, BMO Capital Markets raised 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Marriott International 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.