SK Wealth Management LLC Takes $831,000 Position in Marriott International, Inc. (NASDAQ:MAR)

SK Wealth Management LLC bought a new stake in Marriott International, Inc. (NASDAQ:MAR) in the third quarter, HoldingsChannel reports. The fund bought 3,343 shares of the company’s stock, valued at approximately $831,000.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Marriott International by 1.7% during the third quarter. Principal Financial Group Inc. now owns 263,638 shares of the company’s stock worth $65,540,000 after buying an additional 4,301 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Marriott International in the 3rd quarter valued at about $2,721,000. Tidal Investments LLC lifted its stake in Marriott International by 86.8% in the 3rd quarter. Tidal Investments LLC now owns 16,375 shares of the company’s stock valued at $4,071,000 after purchasing an additional 7,607 shares during the last quarter. Optimist Retirement Group LLC increased its position in Marriott International by 7.7% during the third quarter. Optimist Retirement Group LLC now owns 894 shares of the company’s stock worth $222,000 after buying an additional 64 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Marriott International in the third quarter valued at approximately $1,260,000. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marriott International

In related news, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total value of $137,245.00. Following the transaction, the executive vice president now directly owns 12,286 shares in the company, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William P. Brown sold 1,707 shares of the company’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 sale, the insider now owns 23,077 shares in the company, valued at $6,560,791.10. This represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,815 shares of company stock valued at $3,919,739. 12.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MAR shares. Wells Fargo & Company raised their target price on shares of Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Sanford C. Bernstein upped their target price on Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Mizuho lifted their price target on Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Bank of America increased their price objective on Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Robert W. Baird raised their price target on shares of Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Marriott International currently has a consensus rating of “Hold” and a consensus price target of $266.25.

Marriott International Stock Performance

Shares of NASDAQ:MAR traded down $2.41 during midday trading on Monday, hitting $281.25. 367,970 shares of the stock were exchanged, compared to its average volume of 1,433,305. The business’s 50-day moving average price is $279.47 and its 200 day moving average price is $252.67. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $295.45. The stock has a market capitalization of $78.16 billion, a price-to-earnings ratio of 29.42, a P/E/G ratio of 5.47 and a beta of 1.58.

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

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, November 21st. Marriott International’s dividend payout ratio is currently 26.36%.

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.