CENTRAL TRUST Co Reduces Stock Position in Marriott International, Inc. (NASDAQ:MAR)

CENTRAL TRUST Co trimmed its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 5.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 918 shares of the company’s stock after selling 57 shares during the period. CENTRAL TRUST Co’s holdings in Marriott International were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dai ichi Life Insurance Company Ltd lifted its stake in shares of Marriott International by 5.5% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 13,190 shares of the company’s stock worth $2,593,000 after purchasing an additional 686 shares during the period. Main Street Financial Solutions LLC bought a new stake in shares of Marriott International during the 3rd quarter valued at $204,000. Private Advisor Group LLC raised its holdings in Marriott International by 5.1% in the 3rd quarter. Private Advisor Group LLC now owns 21,366 shares of the company’s stock worth $4,200,000 after purchasing an additional 1,044 shares during the period. US Bancorp DE lifted its position in Marriott International by 1.2% during the third quarter. US Bancorp DE now owns 80,744 shares of the company’s stock valued at $15,871,000 after purchasing an additional 930 shares in the last quarter. Finally, Hartline Investment Corp increased its position in Marriott International by 0.3% in the third quarter. Hartline Investment Corp now owns 93,873 shares of the company’s stock worth $18,452,000 after buying an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Insider Buying and Selling

In other news, Director Eric Hippeau sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total transaction of $351,666.00. Following the transaction, the director now owns 72 shares of the company’s stock, valued at $18,085.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider David S. Marriott sold 2,878 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $248.94, for a total transaction of $716,449.32. Following the transaction, the insider now directly owns 596,042 shares of the company’s stock, valued at $148,378,695.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eric Hippeau sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total value of $351,666.00. Following the completion of the sale, the director now owns 72 shares of the company’s stock, valued at approximately $18,085.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,027 shares of company stock valued at $6,730,271. Company insiders own 10.07% of the company’s stock.

Marriott International Stock Performance

MAR stock traded down $2.12 during trading on Wednesday, hitting $236.16. 1,091,578 shares of the company’s stock traded hands, compared to its average volume of 1,425,987. The business has a fifty day simple moving average of $244.40 and a 200 day simple moving average of $233.02. Marriott International, Inc. has a 52 week low of $165.13 and a 52 week high of $260.57. The stock has a market capitalization of $67.45 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 4.53 and a beta of 1.61.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.09 EPS. Research analysts forecast that Marriott International, Inc. will post 9.53 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 24th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.52 annualized dividend and a dividend yield of 1.07%. This is an increase from Marriott International’s previous quarterly dividend of $0.52. Marriott International’s dividend payout ratio is currently 21.47%.

Analysts Set New Price Targets

MAR has been the subject of several analyst reports. UBS Group increased their target price on shares of Marriott International from $210.00 to $259.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Truist Financial raised their price objective on shares of Marriott International from $233.00 to $263.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Wells Fargo & Company cut their price target on Marriott International from $250.00 to $248.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Argus boosted their price objective on Marriott International from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, Robert W. Baird increased their target price on Marriott International from $248.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $241.33.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.