Summit Financial LLC Cuts Position in Marriott International, Inc. (NASDAQ:MAR)

Summit Financial LLC lessened its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 30.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,765 shares of the company's stock after selling 2,520 shares during the period. Summit Financial LLC's holdings in Marriott International were worth $1,608,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Public Sector Pension Investment Board increased its position in shares of Marriott International by 5.9% during the third quarter. Public Sector Pension Investment Board now owns 8,944 shares of the company's stock valued at $2,223,000 after acquiring an additional 500 shares in the last quarter. Edgestream Partners L.P. boosted its stake in Marriott International by 18.8% during the 3rd quarter. Edgestream Partners L.P. now owns 6,141 shares of the company's stock valued at $1,527,000 after purchasing an additional 970 shares during the last quarter. Benjamin Edwards Inc. raised its stake in shares of Marriott International by 4,324.2% in the third quarter. Benjamin Edwards Inc. now owns 5,486 shares of the company's stock worth $1,364,000 after purchasing an additional 5,362 shares during the last quarter. Hilltop Holdings Inc. bought a new stake in Marriott International in the 3rd quarter worth about $270,000. Finally, Janus Henderson Group PLC grew its stake in shares of Marriott International by 8.4% in the third quarter. Janus Henderson Group PLC now owns 613,052 shares of the company's stock worth $152,399,000 after acquiring an additional 47,551 shares during the period. 70.70% of the stock is owned by institutional investors.

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Marriott International Stock Performance

Marriott International stock traded down $10.04 during mid-day trading on Friday, reaching $214.58. 3,573,896 shares of the company were exchanged, compared to its average volume of 1,523,886. The firm has a market cap of $59.22 billion, a P/E ratio of 25.79, a PEG ratio of 3.42 and a beta of 1.42. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52. The business has a fifty day moving average of $268.79 and a 200 day moving average of $270.50.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. Sell-side analysts predict that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, February 27th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.17%. The ex-dividend date was Thursday, February 27th. Marriott International's dividend payout ratio is currently 30.29%.

Insider Transactions at Marriott International

In other Marriott International news, CFO Kathleen K. Oberg sold 14,498 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the completion of the transaction, the chief financial officer now directly owns 14,282 shares of the company's stock, valued at approximately $3,971,395.74. This trade represents a 50.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William P. Brown sold 12,642 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the transaction, the insider now owns 30,919 shares of the company's stock, valued at $8,831,393.97. This represents a 29.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,694 shares of company stock worth $8,938,132. Insiders own 12.32% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on MAR shares. Evercore ISI raised Marriott International from an "in-line" rating to an "outperform" rating and set a $330.00 price objective for the company in a report on Tuesday, February 4th. Barclays reduced their price target on Marriott International from $287.00 to $283.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on shares of Marriott International from $251.00 to $269.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. Argus boosted their price objective on Marriott International from $300.00 to $330.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their target price on Marriott International from $280.00 to $314.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $286.05.

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.