First Manhattan CO. LLC. Sells 4,024 Shares of Marriott International, Inc. (NASDAQ:MAR)

First Manhattan CO. LLC. cut its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 550,141 shares of the company’s stock after selling 4,024 shares during the period. First Manhattan CO. LLC. owned 0.20% of Marriott International worth $153,456,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MAR. FORA Capital LLC acquired a new stake in Marriott International in the 4th quarter valued at $3,511,000. Fundsmith Investment Services LTD. increased its stake in shares of Marriott International by 5.5% during the fourth quarter. Fundsmith Investment Services LTD. now owns 1,504,980 shares of the company’s stock worth $419,799,000 after purchasing an additional 78,770 shares in the last quarter. Coastal Bridge Advisors LLC acquired a new stake in Marriott International in the 4th quarter worth about $212,000. Eagle Global Advisors LLC purchased a new stake in shares of Marriott International during the fourth quarter worth approximately $1,562,000. Finally, CoreCap Advisors LLC boosted its position in Marriott International by 15.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,576 shares of the company’s stock worth $440,000 after acquiring an additional 210 shares during the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marriott International

In related news, CFO Kathleen K. Oberg sold 14,498 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the completion of the sale, the chief financial officer now directly owns 14,282 shares of the company’s stock, valued at $3,971,395.74. This trade represents a 50.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan C. Schwab sold 1,054 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $277.48, for a total transaction of $292,463.92. Following the completion of the sale, the director now directly owns 4,551 shares of the company’s stock, valued at approximately $1,262,811.48. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,694 shares of company stock valued at $8,938,132. Company insiders own 10.68% of the company’s stock.

Marriott International Trading Up 1.4 %

Marriott International stock opened at $259.49 on Friday. The company’s 50-day moving average price is $238.15 and its two-hundred day moving average price is $266.39. The stock has a market cap of $71.61 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 3.42 and a beta of 1.39. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $307.52.

Marriott International (NASDAQ:MAR) last announced its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.07. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter last year, the business posted $2.13 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Research analysts expect that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, February 27th were given a $0.63 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.52 annualized dividend and a dividend yield of 0.97%. Marriott International’s dividend payout ratio (DPR) is presently 30.29%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MAR shares. UBS Group lifted their target price on shares of Marriott International from $294.00 to $301.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. The Goldman Sachs Group reissued a “neutral” rating and set a $245.00 price objective (down from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Susquehanna lifted their price target on Marriott International from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Jefferies Financial Group dropped their price target on Marriott International from $295.00 to $226.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Finally, Stifel Nicolaus reduced their target price on shares of Marriott International from $295.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $272.75.

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.