Marriott International, Inc. (NASDAQ:MAR) Stock Position Decreased by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp trimmed its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,803 shares of the company’s stock after selling 206 shares during the period. Peapack Gladstone Financial Corp’s holdings in Marriott International were worth $1,941,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hantz Financial Services Inc. acquired a new position in shares of Marriott International in the second quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new position in Marriott International in the 2nd quarter worth approximately $28,000. Silvant Capital Management LLC purchased a new position in Marriott International during the 3rd quarter worth approximately $31,000. Darwin Wealth Management LLC purchased a new stake in shares of Marriott International in the third quarter valued at $33,000. Finally, Unique Wealth Strategies LLC purchased a new position in shares of Marriott International during the second quarter valued at $35,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Insider Activity at Marriott International

In other news, 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 transaction of $137,245.00. Following the completion of the transaction, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. This trade represents a 3.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William P. Brown sold 1,707 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $284.30, for a total transaction of $485,300.10. Following the completion of the transaction, the insider now directly owns 23,077 shares of the company’s stock, valued at $6,560,791.10. This trade represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,815 shares of company stock worth $3,919,739. Company insiders own 12.32% of the company’s stock.

Marriott International Price Performance

Shares of MAR opened at $287.08 on Friday. Marriott International, Inc. has a one year low of $204.55 and a one year high of $295.45. The company’s fifty day moving average price is $274.76 and its 200 day moving average price is $248.79. The company has a market capitalization of $79.78 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 5.56 and a beta of 1.58.

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 net margin of 11.18% and a negative return on equity of 177.91%. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period last year, the business earned $2.11 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that Marriott International, Inc. will post 9.26 earnings per share for the current year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 0.88%. Marriott International’s payout ratio is 26.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MAR shares. JPMorgan Chase & Co. raised their price objective on Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company raised their price target on shares of Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group upped their price objective on shares of Marriott International from $280.00 to $314.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays boosted their price target on shares of Marriott International from $249.00 to $286.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Robert W. Baird increased their price objective on Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $266.25.

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.