Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 42.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,268 shares of the company’s stock after selling 20,451 shares during the period. Franklin Resources Inc.’s holdings in Marriott International were worth $7,132,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. acquired a new position in shares of Marriott International in the 2nd quarter valued at approximately $26,000. Silvant Capital Management LLC bought a new position in Marriott International during the 3rd quarter valued at $31,000. Darwin Wealth Management LLC acquired a new position in Marriott International during the 3rd quarter worth $33,000. Cyrus J. Lawrence LLC bought a new stake in shares of Marriott International in the 2nd quarter worth about $36,000. Finally, Chilton Capital Management LLC acquired a new stake in shares of Marriott International in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Stock Up 1.8 %

Shares of NASDAQ MAR opened at $283.96 on Monday. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $295.45. The stock has a market capitalization of $78.91 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 5.56 and a beta of 1.58. The stock’s fifty day simple moving average is $277.24 and its 200 day simple moving average is $250.70.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings data 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). The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. Marriott International’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.11 EPS. As a group, analysts anticipate that Marriott International, Inc. will post 9.26 earnings per share for the current year.

Marriott International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be issued a $0.63 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.89%. Marriott International’s payout ratio is currently 26.36%.

Wall Street Analyst Weigh In

A number of research analysts have commented on MAR shares. Truist Financial increased their target price on Marriott International from $254.00 to $277.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. BMO Capital Markets lifted their price objective on shares of Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Robert W. Baird increased their target price 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. 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 report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $266.25.

Insider Transactions at Marriott International

In related news, CAO Felitia Lee sold 916 shares of Marriott International stock in a transaction 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 owns 5,609 shares of the company’s stock, valued at approximately $1,550,776.32. This trade represents a 14.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total value of $137,245.00. Following the sale, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,815 shares of company stock valued at $3,919,739 over the last quarter. Company insiders own 12.32% of the company’s stock.

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.