Toroso Investments LLC Lowers Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Posted by Defense World Staff on Mar 17th, 2023

Toroso Investments LLC lowered its holdings in Marriott International, Inc. (NASDAQ:MAR – Get Rating) by 12.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,149 shares of the company’s stock after selling 2,645 shares during the period. Toroso Investments LLC’s holdings in Marriott International were worth $2,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MAR. Abundance Wealth Counselors grew its position in Marriott International by 0.8% during the third quarter. Abundance Wealth Counselors now owns 7,709 shares of the company’s stock valued at $1,080,000 after acquiring an additional 64 shares during the period. Quadrant Capital Group LLC grew its position in Marriott International by 2.4% during the second quarter. Quadrant Capital Group LLC now owns 2,809 shares of the company’s stock valued at $382,000 after acquiring an additional 65 shares during the period. One Capital Management LLC grew its position in Marriott International by 2.0% during the third quarter. One Capital Management LLC now owns 3,474 shares of the company’s stock valued at $486,000 after acquiring an additional 68 shares during the period. CreativeOne Wealth LLC grew its position in Marriott International by 3.7% during the third quarter. CreativeOne Wealth LLC now owns 1,913 shares of the company’s stock valued at $268,000 after acquiring an additional 69 shares during the period. Finally, Metis Global Partners LLC grew its position in Marriott International by 1.8% during the third quarter. Metis Global Partners LLC now owns 4,092 shares of the company’s stock valued at $573,000 after acquiring an additional 71 shares during the period. Hedge funds and other institutional investors own 58.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MAR shares. Citigroup cut Marriott International from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $170.00 to $175.00 in a research note on Wednesday, December 14th. Wells Fargo & Company boosted their price objective on Marriott International from $182.00 to $189.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Jefferies Financial Group cut Marriott International from a “buy” rating to a “hold” rating and set a $166.00 price objective on the stock. in a research note on Monday, January 9th. Robert W. Baird boosted their price objective on Marriott International from $183.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, February 27th. Finally, BMO Capital Markets boosted their price objective on Marriott International from $163.00 to $183.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $180.50.

Insider Activity at Marriott International

In other Marriott International news, CFO Kathleen K. Oberg sold 5,765 shares of Marriott International stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $179.18, for a total transaction of $1,032,972.70. Following the completion of the sale, the chief financial officer now owns 20,630 shares of the company’s stock, valued at approximately $3,696,483.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Marriott International news, CFO Kathleen K. Oberg sold 5,765 shares of Marriott International stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $179.18, for a total transaction of $1,032,972.70. Following the completion of the sale, the chief financial officer now owns 20,630 shares of the company’s stock, valued at approximately $3,696,483.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rena Hozore Reiss sold 7,821 shares of Marriott International stock in a transaction on Friday, February 17th. The stock was sold at an average price of $172.02, for a total transaction of $1,345,368.42. Following the transaction, the executive vice president now directly owns 16,284 shares in the company, valued at $2,801,173.68. The disclosure for this sale can be found here. Insiders sold a total of 22,086 shares of company stock valued at $3,860,436 over the last quarter. Corporate insiders own 12.21% of the company’s stock.

Marriott International Stock Up 1.8 %

Shares of Marriott International stock opened at $161.13 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 16.51. The firm has a market cap of $49.65 billion, a P/E ratio of 22.19, a P/E/G ratio of 0.69 and a beta of 1.58. Marriott International, Inc. has a fifty-two week low of $131.01 and a fifty-two week high of $195.90. The business has a 50-day moving average price of $168.78 and a 200 day moving average price of $158.63.

Marriott International (NASDAQ:MAR – Get Rating) last released its earnings results on Tuesday, February 14th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.38 billion. Marriott International had a net margin of 11.35% and a return on equity of 168.43%. The firm’s revenue was up 33.2% on a year-over-year basis. During the same quarter last year, the company earned $1.30 earnings per share. On average, sell-side analysts forecast that Marriott International, Inc. will post 7.73 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, February 24th will be issued a $0.40 dividend. The ex-dividend date is Thursday, February 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.99%. This is a positive change from Marriott International’s previous quarterly dividend of $0.30. Marriott International’s dividend payout ratio (DPR) is currently 22.04%.

Marriott International Profile

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Marriott International, Inc engages in the operation and franchise of hotel, residential, and timeshare properties. It operates through the following geography segments: U.S. & Canada, Asia Pacific, and Europe, Middle East and Africa (EMEA). The company was founded by J. Willard Marriott and Alice Sheets Marriott in 1927 and is headquartered in Bethesda, MD.