Prospera Financial Services Inc Increases Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Prospera Financial Services Inc grew its holdings in Marriott International, Inc. (NASDAQ:MAR) by 151.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,603 shares of the company’s stock after purchasing an additional 2,172 shares during the quarter. Prospera Financial Services Inc’s holdings in Marriott International were worth $896,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BDF Gestion purchased a new position in shares of Marriott International in the second quarter valued at approximately $3,013,000. Jensen Investment Management Inc. purchased a new position in shares of Marriott International in the third quarter valued at approximately $793,000. CWM LLC boosted its stake in shares of Marriott International by 518.7% in the second quarter. CWM LLC now owns 47,519 shares of the company’s stock valued at $11,489,000 after purchasing an additional 39,839 shares during the period. BayBridge Capital Group LLC purchased a new position in shares of Marriott International in the third quarter valued at approximately $1,254,000. Finally, Kinsale Capital Group Inc. purchased a new position in shares of Marriott International in the third quarter valued at approximately $3,769,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MAR. Truist Financial decreased their price target on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Evercore ISI lifted their price target on shares of Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Bank of America lifted their price target on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Robert W. Baird raised their price objective on shares of Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Marriott International presently has a consensus rating of “Hold” and an average target price of $259.00.

Marriott International Stock Up 0.3 %

MAR opened at $284.29 on Friday. The business has a 50 day moving average price of $261.88 and a two-hundred day moving average price of $243.34. Marriott International, Inc. has a 52 week low of $200.94 and a 52 week high of $289.04. The company has a market cap of $79.00 billion, a PE ratio of 29.74, a P/E/G ratio of 5.49 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $2.11 earnings per share. As a group, sell-side analysts expect that Marriott International, Inc. will post 9.26 EPS for the current fiscal year.

Marriott International Dividend Announcement

The firm 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 $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International’s dividend payout ratio is presently 26.36%.

Insider Transactions at Marriott International

In related news, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the completion of the sale, the executive vice president now owns 12,286 shares in the company, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kathleen K. Oberg sold 2,360 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 39,726 shares of the company’s stock, valued at approximately $11,338,197.66. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,108 shares of company stock valued at $3,434,439. Corporate insiders own 12.32% of the company’s stock.

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.