Contravisory Investment Management Inc. Lowers Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Contravisory Investment Management Inc. lowered its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,030 shares of the company’s stock after selling 108 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Marriott International were worth $845,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Jensen Investment Management Inc. purchased a new stake in shares of Marriott International during the 3rd quarter worth about $793,000. BayBridge Capital Group LLC acquired a new stake in shares of Marriott International in the third quarter worth $1,254,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Marriott International by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock valued at $140,844,000 after acquiring an additional 2,723 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in Marriott International during the 3rd quarter worth $2,721,000. Finally, Kinsale Capital Group Inc. acquired a new stake in Marriott International in the 3rd quarter valued at $3,769,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MAR. Bank of America upped their target price on shares of Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Robert W. Baird increased their price target on Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Truist Financial upped their target price on Marriott International from $254.00 to $277.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Stifel Nicolaus raised their price target on shares of Marriott International from $252.00 to $283.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Finally, Barclays increased their price objective on shares of Marriott International from $249.00 to $286.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Marriott International presently has an average rating of “Hold” and an average price target of $269.65.

Marriott International Stock Performance

Marriott International stock opened at $276.05 on Thursday. The company has a 50 day moving average price of $282.64 and a 200 day moving average price of $255.36. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $295.45. The firm has a market capitalization of $76.71 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 4.48 and a beta of 1.57.

Marriott International (NASDAQ:MAR) last announced 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 business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.11 earnings per share. Equities analysts forecast that Marriott International, Inc. will post 9.25 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, November 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a yield of 0.91%. Marriott International’s payout ratio is 26.36%.

Insiders Place Their Bets

In other news, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the transaction, the executive vice president now owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. This represents a 3.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Felitia Lee sold 916 shares of Marriott International stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the transaction, the chief accounting officer now directly owns 5,609 shares in the company, valued at approximately $1,550,776.32. This represents a 14.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,815 shares of company stock valued at $3,919,739 in the last three months. Insiders own 10.07% of the company’s stock.

Marriott International Company 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, City Express by Marriott, and St.