Concentric Capital Strategies LP Acquires New Position in Marriott International, Inc. (NASDAQ:MAR)

Concentric Capital Strategies LP purchased a new position in shares of Marriott International, Inc. (NASDAQ:MAR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,205 shares of the company’s stock, valued at approximately $5,272,000.

Several other hedge funds have also made changes to their positions in MAR. BDF Gestion acquired a new position in shares of Marriott International in the 2nd quarter valued at about $3,013,000. Jensen Investment Management Inc. purchased a new stake in Marriott International during the 3rd quarter worth $793,000. CWM LLC raised its position in Marriott International by 518.7% in the second quarter. CWM LLC now owns 47,519 shares of the company’s stock valued at $11,489,000 after purchasing an additional 39,839 shares during the period. BayBridge Capital Group LLC acquired a new stake in shares of Marriott International in the third quarter valued at about $1,254,000. Finally, Kinsale Capital Group Inc. purchased a new position in Marriott International in the 3rd quarter worth approximately $3,769,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Truist Financial cut their price target on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Sanford C. Bernstein raised their price objective on Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group began coverage on Marriott International in a research note on Wednesday, September 18th. They set a “buy” rating and a $267.00 target price for the company. Finally, Macquarie reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Marriott International in a report on Tuesday, November 5th. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $260.20.

Insider Transactions at Marriott International

In other news, CFO Kathleen K. Oberg sold 2,360 shares of Marriott International stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $285.41, for a total transaction of $673,567.60. Following the completion of the sale, the chief financial officer now directly owns 39,726 shares in the company, valued at $11,338,197.66. The trade was a 5.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the transaction, the executive vice president now owns 12,286 shares in the company, valued at approximately $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 have sold a total of 13,815 shares of company stock valued at $3,919,739 over the last ninety days. Corporate insiders own 12.32% of the company’s stock.

Marriott International Price Performance

Shares of NASDAQ:MAR opened at $289.09 on Monday. The stock’s 50 day moving average price is $266.70 and its 200 day moving average price is $245.20. The stock has a market cap of $80.34 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 5.69 and a beta of 1.58. Marriott International, Inc. has a 12 month low of $200.94 and a 12 month high of $290.43.

Marriott International (NASDAQ:MAR) last released its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $6.27 billion. During the same period in the previous year, the firm earned $2.11 earnings per share. Marriott International’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Marriott International, Inc. will post 9.26 EPS for the current year.

Marriott International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a yield of 0.87%. Marriott International’s dividend payout ratio is currently 26.36%.

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, City Express by Marriott, and St.