Primecap Management Co. CA Sells 5,100 Shares of Marriott International, Inc. (NASDAQ:MAR)

Primecap Management Co. CA cut its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 292,800 shares of the company's stock after selling 5,100 shares during the quarter. Primecap Management Co. CA owned 0.11% of Marriott International worth $72,790,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bangor Savings Bank increased its stake in shares of Marriott International by 131.1% in the second quarter. Bangor Savings Bank now owns 104 shares of the company's stock valued at $25,000 after buying an additional 59 shares during the period. Hantz Financial Services Inc. acquired a new stake in Marriott International during the 2nd quarter valued at approximately $26,000. MFA Wealth Advisors LLC acquired a new position in shares of Marriott International in the 2nd quarter worth approximately $28,000. Silvant Capital Management LLC bought a new stake in shares of Marriott International in the 3rd quarter valued at $31,000. Finally, Darwin Wealth Management LLC bought a new position in Marriott International during the third quarter worth $33,000. 70.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on MAR. BMO Capital Markets increased their price target on Marriott International from $255.00 to $265.00 and gave the stock a "market perform" rating in a report on Tuesday, November 5th. TD Cowen lowered their target price on Marriott International from $295.00 to $283.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. UBS Group reduced their price objective on shares of Marriott International from $267.00 to $244.00 and set a "neutral" rating for the company in a research report on Tuesday, August 13th. Bank of America boosted their target price 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. Finally, Sanford C. Bernstein lifted their price target on shares of Marriott International from $262.00 to $290.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $259.00.

Insider Buying and Selling

In other Marriott International news, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the sale, the executive vice president now owns 12,286 shares in the company, valued at $3,372,384.14. This represents a 3.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Felitia Lee sold 916 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total value of $253,255.68. Following the sale, the chief accounting officer now owns 5,609 shares in the company, valued at approximately $1,550,776.32. The trade was a 14.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,108 shares of company stock valued at $3,434,439. 12.32% of the stock is owned by insiders.

Marriott International Price Performance

Shares of NASDAQ MAR traded up $0.85 during mid-day trading on Friday, reaching $284.29. 990,342 shares of the company's stock were exchanged, compared to its average volume of 1,466,192. The firm has a 50-day moving average price of $260.83 and a two-hundred day moving average price of $243.01. The firm has a market capitalization of $79.00 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 5.49 and a beta of 1.58. Marriott International, Inc. has a 52 week low of $200.94 and a 52 week high of $289.04.

Marriott International (NASDAQ:MAR - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $2.26 earnings per share 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 analysts' expectations of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The firm's revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.11 earnings per share. As a group, sell-side analysts forecast that Marriott International, Inc. will post 9.26 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 0.89%. Marriott International's payout ratio is 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.