Verdence Capital Advisors LLC Cuts Stake in Marriott International, Inc. (NASDAQ:MAR)

Verdence Capital Advisors LLC lessened its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 5.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,978 shares of the company’s stock after selling 280 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Marriott International were worth $1,186,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MAR. Cullen Frost Bankers Inc. raised its stake in shares of Marriott International by 3.3% during the first quarter. Cullen Frost Bankers Inc. now owns 46,551 shares of the company’s stock valued at $11,088,000 after purchasing an additional 1,483 shares in the last quarter. Bridgewater Advisors Inc. grew its stake in Marriott International by 4.1% during the 1st quarter. Bridgewater Advisors Inc. now owns 52,012 shares of the company’s stock valued at $12,466,000 after acquiring an additional 2,052 shares in the last quarter. Whittier Trust Co. grew its stake in Marriott International by 22.6% during the 1st quarter. Whittier Trust Co. now owns 8,488 shares of the company’s stock valued at $2,022,000 after acquiring an additional 1,563 shares in the last quarter. Asahi Life Asset Management CO. LTD. bought a new stake in shares of Marriott International in the 1st quarter valued at approximately $376,000. Finally, Apollon Wealth Management LLC grew its stake in shares of Marriott International by 6.1% in the 1st quarter. Apollon Wealth Management LLC now owns 7,440 shares of the company’s stock valued at $1,772,000 after buying an additional 427 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Analyst Ratings Changes

MAR has been the subject of several recent research reports. Robert W. Baird boosted their price target on Marriott International from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group restated a “neutral” rating and issued a $245.00 target price (down from $313.00) on shares of Marriott International in a research note on Monday, April 14th. JPMorgan Chase & Co. began coverage on Marriott International in a research note on Monday, June 23rd. They issued a “neutral” rating and a $284.00 target price for the company. UBS Group dropped their price objective on Marriott International from $302.00 to $299.00 and set a “neutral” rating for the company in a research note on Wednesday, May 21st. Finally, Melius Research upgraded Marriott International to a “strong-buy” rating in a report on Monday, April 21st. Thirteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $276.90.

Marriott International Price Performance

NASDAQ:MAR opened at $271.60 on Friday. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The business has a 50 day moving average of $268.25 and a 200 day moving average of $262.42. The company has a market capitalization of $74.39 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 3.38 and a beta of 1.41.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data 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. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.19 billion. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.13 earnings per share. As a group, sell-side analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.99%. This is a boost from Marriott International’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. Marriott International’s dividend payout ratio is presently 30.52%.

Insider Transactions at Marriott International

In other news, insider Rajeev Menon sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total transaction of $670,700.00. Following the transaction, the insider directly owned 5,706 shares of the company’s stock, valued at $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Benjamin T. Breland sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $270.21, for a total value of $270,210.00. Following the completion of the transaction, the executive vice president directly owned 20,724 shares in the company, valued at $5,599,832.04. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,500 shares of company stock valued at $4,107,710. Insiders own 10.68% of the company’s stock.

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.