Canoe Financial LP Sells 209,560 Shares of Marriott International, Inc. (NASDAQ:MAR)

Canoe Financial LP lowered its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 68.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,046 shares of the company's stock after selling 209,560 shares during the quarter. Canoe Financial LP's holdings in Marriott International were worth $26,791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Marriott International by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 679,757 shares of the company's stock valued at $164,355,000 after acquiring an additional 33,149 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Marriott International by 8.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 36,252 shares of the company's stock valued at $8,765,000 after purchasing an additional 2,711 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Marriott International by 30.2% during the second quarter. Blair William & Co. IL now owns 34,756 shares of the company's stock worth $8,403,000 after buying an additional 8,066 shares during the last quarter. MQS Management LLC acquired a new position in Marriott International in the second quarter valued at approximately $255,000. Finally, Intech Investment Management LLC boosted its stake in Marriott International by 10.7% in the second quarter. Intech Investment Management LLC now owns 7,980 shares of the company's stock valued at $1,929,000 after acquiring an additional 770 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company's stock.

Analyst Upgrades and Downgrades

MAR has been the topic of a number of analyst reports. Bank of America increased their price target on Marriott International from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Mizuho raised their target price on Marriott International from $233.00 to $246.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Stifel Nicolaus lifted their price objective on shares of Marriott International from $252.00 to $283.00 and gave the stock a "hold" rating in a research note on Tuesday, November 26th. The Goldman Sachs Group upped their price objective on shares of Marriott International from $280.00 to $314.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Finally, Robert W. Baird raised their target price 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. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $272.15.

Insider Buying and Selling

In other news, insider William P. Brown sold 1,707 shares of the company's stock in a transaction on 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 directly owns 23,077 shares in the company, valued at approximately $6,560,791.10. This represents a 6.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kathleen K. Oberg sold 2,360 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $285.41, for a total value 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,815 shares of company stock valued at $3,919,739. 10.07% of the stock is owned by company insiders.

Marriott International Stock Performance

Shares of MAR stock traded up $1.18 during midday trading on Friday, hitting $277.18. 1,800,667 shares of the company were exchanged, compared to its average volume of 994,544. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $295.45. The firm has a market capitalization of $77.03 billion, a P/E ratio of 28.99, a PEG ratio of 4.48 and a beta of 1.57. The firm's 50 day moving average price is $282.53 and its two-hundred day moving average price is $256.02.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.05). The firm 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%. Marriott International's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.11 EPS. Analysts expect that Marriott International, Inc. will post 9.25 EPS for the current year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, November 21st were paid a $0.63 dividend. The ex-dividend date was Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 0.91%. Marriott International's dividend payout ratio (DPR) is presently 26.36%.

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.