Geode Capital Management LLC Trims Position in Marriott International, Inc. (NASDAQ:MAR)

Geode Capital Management LLC lessened its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 1.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,966,071 shares of the company's stock after selling 64,160 shares during the quarter. Geode Capital Management LLC owned about 1.79% of Marriott International worth $1,230,046,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MAR. Hantz Financial Services Inc. bought a new position in shares of Marriott International in the second quarter valued at approximately $26,000. MFA Wealth Advisors LLC purchased a new position in shares of Marriott International during the 2nd quarter valued at $28,000. Silvant Capital Management LLC purchased a new stake in shares of Marriott International in the third quarter worth $31,000. Darwin Wealth Management LLC bought a new stake in Marriott International during the third quarter valued at $33,000. Finally, Unique Wealth Strategies LLC bought a new position in Marriott International in the 2nd quarter worth about $35,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Marriott International Price Performance

NASDAQ:MAR traded up $4.06 during trading hours on Wednesday, hitting $291.73. The company had a trading volume of 855,886 shares, compared to its average volume of 1,450,355. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $295.45. The company has a market capitalization of $81.07 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 5.76 and a beta of 1.58. The stock has a 50-day moving average price of $272.45 and a 200 day moving average price of $247.74.

Marriott International (NASDAQ:MAR - Get Free Report) last released 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 company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. Marriott International's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.11 earnings per share. Analysts anticipate that Marriott International, Inc. will post 9.26 EPS for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International's dividend payout ratio is presently 26.36%.

Insider Activity at Marriott International

In related news, EVP Benjamin T. Breland sold 500 shares of the company'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 transaction, the executive vice president now owns 12,286 shares in the company, valued at $3,372,384.14. The trade was a 3.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William P. Brown sold 1,707 shares of Marriott International 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 of the company's stock, valued at $6,560,791.10. This trade represents a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,815 shares of company stock valued at $3,919,739 in the last three months. Company insiders own 12.32% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MAR. Truist Financial boosted their price objective on Marriott International from $254.00 to $277.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Bank of America raised their price objective on shares of Marriott International from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Wells Fargo & Company upped 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 report on Tuesday, October 22nd. BMO Capital Markets raised their price target on Marriott International from $255.00 to $265.00 and gave the company a "market perform" rating in a research report on Tuesday, November 5th. Finally, UBS Group reduced their price objective on Marriott International from $267.00 to $244.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 13th. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $263.70.

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.