Corient Private Wealth LLC Reduces Position in Marriott International, Inc. (NASDAQ:MAR)

Corient Private Wealth LLC cut its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 218,698 shares of the company’s stock after selling 2,409 shares during the quarter. Corient Private Wealth LLC owned 0.08% of Marriott International worth $60,791,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. NewEdge Wealth LLC lifted its holdings in Marriott International by 34.4% during the fourth quarter. NewEdge Wealth LLC now owns 4,345 shares of the company’s stock valued at $1,212,000 after purchasing an additional 1,112 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Marriott International in the 3rd quarter valued at $2,721,000. Union Bancaire Privee UBP SA purchased a new position in Marriott International during the fourth quarter worth about $2,990,000. Kinsale Capital Group Inc. acquired a new stake in Marriott International in the 3rd quarter valued at approximately $3,769,000. Finally, Covea Finance lifted its stake in Marriott International by 69.9% during the 4th quarter. Covea Finance now owns 60,540 shares of the company’s stock worth $16,887,000 after acquiring an additional 24,900 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kathleen K. Oberg sold 14,498 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $278.07, for a total value of $4,031,458.86. Following the completion of the transaction, the chief financial officer now owns 14,282 shares of the company’s stock, valued at approximately $3,971,395.74. The trade was a 50.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rena Hozore Reiss sold 3,500 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the sale, the executive vice president now directly owns 24,733 shares in the company, valued at $7,089,714.45. This represents a 12.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,694 shares of company stock worth $8,938,132 in the last ninety days. Insiders own 12.32% of the company’s stock.

Marriott International Price Performance

MAR opened at $243.11 on Monday. The stock’s 50 day simple moving average is $278.37 and its 200 day simple moving average is $269.96. The stock has a market cap of $67.02 billion, a P/E ratio of 29.22, a P/E/G ratio of 3.42 and a beta of 1.58. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52.

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

Marriott International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, February 27th will be paid 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 dividend yield of 1.04%. Marriott International’s dividend payout ratio (DPR) is 30.29%.

Analyst Upgrades and Downgrades

MAR has been the subject of several research reports. Barclays dropped their price target on shares of Marriott International from $287.00 to $283.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Argus lifted their price target on shares of Marriott International from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Jefferies Financial Group raised their target price on shares of Marriott International from $251.00 to $295.00 and gave the stock a “hold” rating in a research report on Thursday, January 2nd. Evercore ISI raised Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price objective for the company in a research note on Tuesday, February 4th. Finally, Morgan Stanley boosted their target price on Marriott International from $289.00 to $298.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $286.45.

Marriott International 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.