CIBC Asset Management Inc Increases Position in Marriott International, Inc. (NASDAQ:MAR)

CIBC Asset Management Inc boosted its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 81,964 shares of the company's stock after purchasing an additional 2,994 shares during the period. CIBC Asset Management Inc's holdings in Marriott International were worth $20,376,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Harbor Capital Advisors Inc. increased its holdings in Marriott International by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,698 shares of the company's stock worth $2,162,000 after buying an additional 38 shares during the period. Haverford Trust Co increased its stake in shares of Marriott International by 1.0% in the third quarter. Haverford Trust Co now owns 4,207 shares of the company's stock worth $1,046,000 after acquiring an additional 40 shares during the period. Rockland Trust Co. raised its holdings in shares of Marriott International by 2.3% during the second quarter. Rockland Trust Co. now owns 1,802 shares of the company's stock worth $436,000 after purchasing an additional 41 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Marriott International by 1.4% in the second quarter. Park Avenue Securities LLC now owns 3,298 shares of the company's stock valued at $797,000 after purchasing an additional 46 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its position in Marriott International by 1.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,075 shares of the company's stock worth $743,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 70.70% of the company's stock.

Marriott International Trading Down 1.1 %

NASDAQ MAR traded down $3.24 on Friday, reaching $278.78. 1,751,074 shares of the company were exchanged, compared to its average volume of 1,474,450. The business's fifty day moving average price is $256.59 and its 200 day moving average price is $241.73. The stock has a market capitalization of $77.47 billion, a P/E ratio of 29.16, a price-to-earnings-growth ratio of 5.63 and a beta of 1.58. Marriott International, Inc. has a fifty-two week low of $200.94 and a fifty-two week high of $289.04.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings data 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). 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 in the prior year, the company posted $2.11 EPS. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current year.

Marriott International Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on MAR shares. Truist Financial dropped their target price on Marriott International from $263.00 to $254.00 and set a "hold" rating on the stock in a report on Tuesday, August 6th. BMO Capital Markets boosted their target price on shares of Marriott International from $255.00 to $265.00 and gave the company a "market perform" rating in a research note on Tuesday, November 5th. Morgan Stanley dropped their price target on shares of Marriott International from $268.00 to $250.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of Marriott International from $235.00 to $255.00 and gave the stock a "neutral" rating in a research report on Friday, July 19th. Finally, The Goldman Sachs Group assumed coverage on Marriott International in a research report on Wednesday, September 18th. They set a "buy" rating and a $267.00 target price on the stock. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $259.00.

Insider Activity

In other news, EVP Benjamin T. Breland sold 500 shares of Marriott International 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 completion of the sale, the executive vice president now directly owns 12,286 shares of the company's stock, valued at approximately $3,372,384.14. The trade was a 3.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Felitia Lee sold 916 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $276.48, for a total value of $253,255.68. Following the transaction, the chief accounting officer now owns 5,609 shares of the company's stock, valued at $1,550,776.32. This trade represents a 14.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,108 shares of company stock valued at $3,434,439 in the last quarter. 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.