Highland Capital Management LLC Acquires 16,230 Shares of Marriott International, Inc. (NASDAQ:MAR)

Highland Capital Management LLC lifted its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 1,948.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,063 shares of the company's stock after purchasing an additional 16,230 shares during the quarter. Highland Capital Management LLC's holdings in Marriott International were worth $4,760,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MAR. Jensen Investment Management Inc. acquired a new position in Marriott International during the 3rd quarter worth about $793,000. BayBridge Capital Group LLC acquired a new stake in shares of Marriott International during the 3rd quarter worth approximately $1,254,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Marriott International by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company's stock valued at $140,844,000 after acquiring an additional 2,723 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Marriott International in the 3rd quarter valued at approximately $2,721,000. Finally, Kinsale Capital Group Inc. bought a new position in shares of Marriott International during the third quarter worth $3,769,000. Institutional investors and hedge funds own 70.70% of the company's stock.

Insiders Place Their Bets

In related news, insider William P. Brown sold 1,707 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were 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 owns 23,077 shares of the company's stock, valued at approximately $6,560,791.10. This represents a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Capuano sold 8,332 shares of Marriott International stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the transaction, the chief executive officer now directly owns 108,361 shares in the company, valued at approximately $30,827,620.89. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,815 shares of company stock valued at $3,919,739. 12.32% of the stock is owned by corporate insiders.

Marriott International Price Performance

MAR stock traded up $2.32 during midday trading on Thursday, hitting $291.98. 596,983 shares of the stock traded hands, compared to its average volume of 1,414,157. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $295.45. The stock's fifty day simple moving average is $282.75 and its 200-day simple moving average is $258.45. The firm has a market cap of $81.14 billion, a P/E ratio of 30.67, a PEG ratio of 4.64 and a beta of 1.57.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.05). Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The firm had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.27 billion. During the same period last year, the company earned $2.11 EPS. The business's quarterly revenue was up 5.5% on a year-over-year basis. On average, research analysts predict that Marriott International, Inc. will post 9.25 earnings per share for the current year.

Marriott International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, November 21st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.86%. The ex-dividend date was Thursday, November 21st. Marriott International's payout ratio is 26.36%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MAR. Jefferies Financial Group upped their target price on shares of Marriott International from $251.00 to $295.00 and gave the stock a "hold" rating in a research note on Thursday, January 2nd. Stifel Nicolaus boosted their price target on Marriott International from $252.00 to $283.00 and gave the stock a "hold" rating in a research report on Tuesday, November 26th. Truist Financial increased their price target on shares of Marriott International from $254.00 to $277.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. Sanford C. Bernstein raised their target price on shares of Marriott International from $262.00 to $290.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Finally, TD Cowen lowered their price objective on shares of Marriott International from $295.00 to $283.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Marriott International presently has a consensus rating of "Hold" and a consensus price target of $272.15.

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.