Verdence Capital Advisors LLC Sells 708 Shares of Marriott International, Inc. (NASDAQ:MAR)

Verdence Capital Advisors LLC decreased its holdings in Marriott International, Inc. (NASDAQ:MAR) by 12.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,122 shares of the company’s stock after selling 708 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Marriott International were worth $1,273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MAR. Canoe Financial LP purchased a new position in Marriott International in the third quarter valued at about $77,331,000. International Assets Investment Management LLC grew its position in shares of Marriott International by 15,148.3% in the 3rd quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock worth $75,208,000 after buying an additional 300,543 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Marriott International by 36,856.7% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock worth $58,346,000 after acquiring an additional 240,674 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Marriott International by 1.8% during the first quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after acquiring an additional 192,652 shares during the last quarter. Finally, Capital International Investors grew its holdings in Marriott International by 4.7% in the first quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock worth $831,836,000 after purchasing an additional 149,378 shares during the last quarter. Institutional investors own 70.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MAR shares. Bank of America raised their price objective on Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. TD Cowen lowered their price target on Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Evercore ISI increased their price objective on shares of Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Barclays boosted their target price on shares of Marriott International from $240.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird raised their price target on shares of Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $259.00.

Insider Activity

In other Marriott International news, EVP Benjamin T. Breland sold 500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total transaction of $137,245.00. Following the completion of the transaction, the executive vice president now directly owns 12,286 shares in the company, valued at approximately $3,372,384.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Felitia Lee sold 916 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the sale, the chief accounting officer now directly owns 5,609 shares in the company, valued at approximately $1,550,776.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Benjamin T. Breland sold 500 shares of Marriott International 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 directly owns 12,286 shares in the company, valued at approximately $3,372,384.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.32% of the company’s stock.

Marriott International Price Performance

NASDAQ:MAR opened at $280.80 on Friday. The company has a 50 day moving average price of $251.24 and a 200-day moving average price of $240.26. Marriott International, Inc. has a 1-year low of $192.27 and a 1-year high of $282.80. The firm has a market cap of $78.03 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 6.05 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.05). Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same period in the previous year, the company earned $2.11 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Marriott International, Inc. will post 9.27 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, November 21st. Marriott International’s dividend payout ratio (DPR) is presently 26.36%.

About Marriott International

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.