Handelsbanken Fonder AB Sells 5,566 Shares of Marriott International, Inc. (NASDAQ:MAR)

Handelsbanken Fonder AB trimmed its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,559 shares of the company’s stock after selling 5,566 shares during the quarter. Handelsbanken Fonder AB’s holdings in Marriott International were worth $11,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in MAR. Arkadios Wealth Advisors grew its stake in Marriott International by 17.1% during the third quarter. Arkadios Wealth Advisors now owns 1,592 shares of the company’s stock worth $313,000 after purchasing an additional 232 shares during the period. Capital Investment Advisors LLC grew its stake in Marriott International by 0.9% during the third quarter. Capital Investment Advisors LLC now owns 5,989 shares of the company’s stock worth $1,177,000 after purchasing an additional 52 shares during the period. Meridian Wealth Management LLC grew its stake in Marriott International by 91.3% during the third quarter. Meridian Wealth Management LLC now owns 10,212 shares of the company’s stock worth $2,007,000 after purchasing an additional 4,875 shares during the period. Exchange Traded Concepts LLC grew its stake in Marriott International by 683.4% in the third quarter. Exchange Traded Concepts LLC now owns 9,988 shares of the company’s stock valued at $1,963,000 after acquiring an additional 8,713 shares during the period. Finally, RDA Financial Network acquired a new stake in Marriott International in the third quarter valued at approximately $203,000. 70.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Truist Financial raised their price objective on Marriott International from $233.00 to $263.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Argus raised their price objective on Marriott International from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Mizuho reduced their price objective on Marriott International from $263.00 to $260.00 and set a “neutral” rating for the company in a research note on Tuesday. BMO Capital Markets raised their price objective on Marriott International from $230.00 to $235.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. Finally, Robert W. Baird reduced their price objective on Marriott International from $250.00 to $248.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $236.69.

Marriott International Price Performance

Shares of MAR opened at $239.69 on Wednesday. Marriott International, Inc. has a 1 year low of $162.77 and a 1 year high of $260.57. The stock’s fifty day moving average price is $248.18 and its two-hundred day moving average price is $226.48. The firm has a market cap of $69.26 billion, a PE ratio of 23.52, a PEG ratio of 1.73 and a beta of 1.62.

Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, February 13th. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $1.45. The company had revenue of $6.10 billion during the quarter, compared to analyst estimates of $6.20 billion. Marriott International had a negative return on equity of 848.49% and a net margin of 13.00%. Marriott International’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.96 EPS. Sell-side analysts anticipate that Marriott International, Inc. will post 9.46 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 22nd were paid a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.08 annualized dividend and a dividend yield of 0.87%. Marriott International’s payout ratio is currently 20.41%.

Insider Buying and Selling

In related news, insider Satyajit Anand sold 2,749 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $251.93, for a total value of $692,555.57. Following the sale, the insider now owns 24,478 shares in the company, valued at approximately $6,166,742.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Marriott International news, insider Satyajit Anand sold 2,749 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $251.93, for a total transaction of $692,555.57. Following the sale, the insider now directly owns 24,478 shares in the company, valued at approximately $6,166,742.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eric Hippeau sold 1,400 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total value of $351,666.00. Following the sale, the director now owns 72 shares in the company, valued at $18,085.68. The disclosure for this sale can be found here. Insiders have sold 125,003 shares of company stock worth $30,435,493 in the last 90 days. Insiders own 10.07% of the company’s stock.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.