Mackenzie Financial Corp Trims Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Mackenzie Financial Corp cut its stake in Marriott International, Inc. (NASDAQ:MAR) by 18.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,071 shares of the company’s stock after selling 5,074 shares during the period. Mackenzie Financial Corp’s holdings in Marriott International were worth $5,203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caprock Group LLC raised its holdings in shares of Marriott International by 255.1% in the fourth quarter. Caprock Group LLC now owns 11,781 shares of the company’s stock valued at $2,657,000 after buying an additional 8,463 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Marriott International by 86.8% in the fourth quarter. Cerity Partners LLC now owns 44,957 shares of the company’s stock valued at $10,138,000 after buying an additional 20,890 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Marriott International by 88.4% in the fourth quarter. Impax Asset Management Group plc now owns 10,426 shares of the company’s stock valued at $2,351,000 after buying an additional 4,892 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Marriott International by 1,487.6% in the fourth quarter. International Assets Investment Management LLC now owns 345,246 shares of the company’s stock valued at $77,856,000 after buying an additional 323,500 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in shares of Marriott International by 14.7% in the fourth quarter. Vontobel Holding Ltd. now owns 79,403 shares of the company’s stock valued at $17,906,000 after buying an additional 10,197 shares during the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MAR shares. Jefferies Financial Group boosted their price target on shares of Marriott International from $205.00 to $227.00 and gave the stock a “hold” rating in a research note on Tuesday, January 2nd. Argus boosted their price target on shares of Marriott International from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Truist Financial boosted their price target on shares of Marriott International from $233.00 to $263.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. BMO Capital Markets boosted their price target on shares of Marriott International from $230.00 to $235.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 14th. Finally, Wells Fargo & Company boosted their price target on shares of Marriott International from $234.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, March 18th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $236.88.

Insider Activity

In other news, Director Eric Hippeau sold 2,600 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $237.40, for a total value of $617,240.00. Following the transaction, the director now owns 1,472 shares of the company’s stock, valued at approximately $349,452.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider David S. Marriott sold 2,878 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $248.94, for a total transaction of $716,449.32. Following the completion of the sale, the insider now directly owns 596,042 shares of the company’s stock, valued at approximately $148,378,695.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric Hippeau sold 2,600 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $237.40, for a total transaction of $617,240.00. Following the sale, the director now directly owns 1,472 shares of the company’s stock, valued at $349,452.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,003 shares of company stock valued at $30,435,493. Company insiders own 12.32% of the company’s stock.

Marriott International Stock Performance

Shares of MAR opened at $236.00 on Friday. The company has a market capitalization of $68.20 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.72 and a beta of 1.62. The company’s 50 day simple moving average is $248.31 and its 200 day simple moving average is $225.65. Marriott International, Inc. has a 1 year low of $162.77 and a 1 year high of $260.57.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $1.45. The company had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $6.20 billion. Marriott International had a net margin of 13.00% and a negative return on equity of 848.49%. Marriott International’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 earnings per share. Equities analysts expect that Marriott International, Inc. will post 9.46 EPS for the current fiscal year.

Marriott International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Wednesday, February 21st. Marriott International’s dividend payout ratio is currently 20.41%.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.