The Manufacturers Life Insurance Company Lowers Position in Marriott International, Inc. (NASDAQ:MAR)

The Manufacturers Life Insurance Company lowered its holdings in Marriott International, Inc. (NASDAQ:MAR) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 143,133 shares of the company’s stock after selling 4,838 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Marriott International worth $35,583,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAR. Canoe Financial LP purchased a new position in Marriott International in the third quarter valued at about $77,331,000. International Assets Investment Management LLC raised its stake in shares of Marriott International by 15,148.3% during the 3rd quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock worth $75,208,000 after acquiring an additional 300,543 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Marriott International by 36,856.7% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock valued at $58,346,000 after acquiring an additional 240,674 shares in the last quarter. AXA S.A. grew its holdings in Marriott International by 133.4% in the second quarter. AXA S.A. now owns 221,045 shares of the company’s stock worth $53,442,000 after purchasing an additional 126,323 shares during the last quarter. Finally, Mizuho Securities USA LLC lifted its holdings in shares of Marriott International by 629.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 134,973 shares of the company’s stock valued at $33,554,000 after purchasing an additional 116,477 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors.

Marriott International Stock Performance

Shares of Marriott International stock opened at $289.09 on Friday. Marriott International, Inc. has a fifty-two week low of $200.94 and a fifty-two week high of $290.43. The company has a market cap of $80.34 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 5.62 and a beta of 1.58. The firm has a 50-day simple moving average of $266.70 and a two-hundred day simple moving average of $245.07.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.11 EPS. Equities research analysts forecast that Marriott International, Inc. will post 9.26 EPS for the current year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.87%. The ex-dividend date is Thursday, November 21st. Marriott International’s payout ratio is 26.36%.

Insider Transactions at Marriott International

In other news, CFO Kathleen K. Oberg sold 2,360 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $285.41, for a total transaction of $673,567.60. Following the completion of the sale, the chief financial officer now owns 39,726 shares of the company’s stock, valued at $11,338,197.66. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William P. Brown sold 1,707 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $284.30, for a total transaction of $485,300.10. Following the completion of the transaction, the insider now directly owns 23,077 shares in the company, valued at approximately $6,560,791.10. This represents a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,815 shares of company stock valued at $3,919,739 over the last 90 days. Corporate insiders own 12.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MAR. BMO Capital Markets increased their price target on Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Sanford C. Bernstein lifted their target price on shares of Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Evercore ISI upped their price target on shares of Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Mizuho boosted their price objective on shares of Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Barclays lifted their price target on Marriott International from $240.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $260.20.

Marriott International Company 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.