Cumberland Partners Ltd Purchases New Position in Marriott International, Inc. (NASDAQ:MAR)

Cumberland Partners Ltd bought a new position in Marriott International, Inc. (NASDAQ:MAR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,500 shares of the company’s stock, valued at approximately $564,000.

Several other hedge funds have also modified their holdings of the stock. Caprock Group LLC increased its holdings in Marriott International by 255.1% during the 4th quarter. Caprock Group LLC now owns 11,781 shares of the company’s stock worth $2,657,000 after purchasing an additional 8,463 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Marriott International by 86.8% during the fourth quarter. Cerity Partners LLC now owns 44,957 shares of the company’s stock worth $10,138,000 after purchasing an additional 20,890 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of Marriott International by 88.4% in the 4th quarter. Impax Asset Management Group plc now owns 10,426 shares of the company’s stock worth $2,351,000 after purchasing an additional 4,892 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Marriott International by 1,487.6% during the fourth quarter. International Assets Investment Management LLC now owns 345,246 shares of the company’s stock valued at $77,856,000 after purchasing an additional 323,500 shares during the period. Finally, Vontobel Holding Ltd. raised its stake in shares of Marriott International by 14.7% during the fourth quarter. Vontobel Holding Ltd. now owns 79,403 shares of the company’s stock valued at $17,906,000 after purchasing an additional 10,197 shares in the last quarter. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MAR has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Marriott International from $234.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, March 18th. Truist Financial boosted their price objective on Marriott International from $233.00 to $263.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. Barclays raised their target price on Marriott International from $239.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. Mizuho dropped their price target on shares of Marriott International from $263.00 to $260.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, BMO Capital Markets raised their price objective on shares of Marriott International from $230.00 to $235.00 and gave the company a “market perform” rating in a research report on Wednesday, February 14th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Marriott International currently has an average rating of “Hold” and an average target price of $236.69.

Marriott International Stock Performance

Shares of Marriott International stock traded up $4.69 during midday trading on Wednesday, reaching $244.38. 1,458,099 shares of the company’s stock traded hands, compared to its average volume of 1,441,414. The company has a market cap of $70.62 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 1.73 and a beta of 1.62. Marriott International, Inc. has a 52 week low of $162.77 and a 52 week high of $260.57. The company’s 50 day simple moving average is $248.18 and its 200 day simple moving average is $226.48.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.12 by $1.45. The company had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $6.20 billion. Marriott International had a negative return on equity of 848.49% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.96 earnings per share. As a group, equities research analysts predict that Marriott International, Inc. will post 9.46 earnings per share for the current year.

Marriott International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were given a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.08 annualized dividend and a dividend yield of 0.85%. Marriott International’s dividend payout ratio is 20.41%.

Insider Transactions at Marriott International

In other news, Director Eric Hippeau sold 1,400 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total transaction of $351,666.00. Following the completion of the transaction, the director now owns 72 shares of the company’s stock, valued at $18,085.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Eric Hippeau sold 1,400 shares of the business’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 sale, the director now directly owns 72 shares in the company, valued at $18,085.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Anthony Capuano sold 20,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $248.48, for a total transaction of $4,969,600.00. Following the completion of the sale, the chief executive officer now directly owns 93,323 shares in the company, valued at approximately $23,188,899.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,003 shares of company stock worth $30,435,493. Insiders own 10.07% 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.