Gabelli Funds LLC Sells 1,200 Shares of Marriott International, Inc. (NASDAQ:MAR)

Gabelli Funds LLC decreased its stake in shares of Marriott International, Inc. (NASDAQ:MARFree Report) by 13.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,800 shares of the company’s stock after selling 1,200 shares during the period. Gabelli Funds LLC’s holdings in Marriott International were worth $1,759,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in MAR. ORG Partners LLC grew its position in shares of Marriott International by 72.6% in the fourth quarter. ORG Partners LLC now owns 126 shares of the company’s stock valued at $29,000 after purchasing an additional 53 shares during the last quarter. Keener Financial Planning LLC acquired a new position in shares of Marriott International during the fourth quarter worth approximately $30,000. Anchor Investment Management LLC acquired a new stake in shares of Marriott International in the fourth quarter worth $31,000. Wetzel Investment Advisors Inc. acquired a new position in Marriott International during the 4th quarter valued at $33,000. Finally, Private Wealth Management Group LLC bought a new stake in Marriott International in the 4th quarter valued at $33,000. Institutional investors own 70.70% of the company’s stock.

Marriott International Stock Performance

Shares of MAR stock opened at $231.10 on Monday. The stock has a market capitalization of $66.01 billion, a PE ratio of 23.85, a PEG ratio of 4.36 and a beta of 1.60. Marriott International, Inc. has a 52 week low of $170.03 and a 52 week high of $260.57. The stock’s fifty day moving average is $239.70 and its 200-day moving average is $235.91.

Marriott International (NASDAQ:MARGet Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.95 billion. Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. Marriott International’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.09 earnings per share. As a group, analysts forecast that Marriott International, Inc. will post 9.53 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, May 23rd. This is a positive change from Marriott International’s previous quarterly dividend of $0.52. Marriott International’s dividend payout ratio is 26.01%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MAR shares. Truist Financial upped their price objective on shares of Marriott International from $233.00 to $263.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. BMO Capital Markets raised their price objective on Marriott International from $235.00 to $240.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Robert W. Baird boosted their price objective on Marriott International from $248.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Barclays lifted their price target on shares of Marriott International from $239.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, April 19th. Finally, Argus lifted their target price on shares of Marriott International from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Marriott International has a consensus rating of “Hold” and an average target price of $241.33.

Read Our Latest Analysis on MAR

Insider Activity at Marriott International

In other Marriott International news, Director Eric Hippeau sold 1,400 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total transaction of $351,666.00. Following the transaction, the director now directly owns 72 shares in the company, valued at approximately $18,085.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.07% of the stock is owned by company insiders.

About Marriott International

(Free Report)

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.

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Institutional Ownership by Quarter for Marriott International (NASDAQ:MAR)

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