Penobscot Investment Management Company Inc. Cuts Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Penobscot Investment Management Company Inc. lessened its holdings in Marriott International, Inc. (NASDAQ:MAR) by 2.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,260 shares of the company’s stock after selling 125 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Marriott International were worth $1,746,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in shares of Marriott International in the 4th quarter valued at $165,162,000. PointState Capital LP bought a new position in Marriott International in the third quarter worth about $98,249,000. Proficio Capital Partners LLC lifted its position in shares of Marriott International by 36,564.5% during the fourth quarter. Proficio Capital Partners LLC now owns 360,779 shares of the company’s stock valued at $100,636,000 after buying an additional 359,795 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Marriott International by 341.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 381,226 shares of the company’s stock worth $106,339,000 after buying an additional 294,898 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Marriott International by 35,705.3% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 241,686 shares of the company’s stock worth $71,681,000 after acquiring an additional 241,011 shares in the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MAR. Wells Fargo & Company reduced their price target on Marriott International from $285.00 to $277.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Susquehanna increased their price target on Marriott International from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Jefferies Financial Group upped their price objective on shares of Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. The Goldman Sachs Group lifted their target price on shares of Marriott International from $280.00 to $314.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised their price target 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. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $286.05.

Marriott International Price Performance

NASDAQ:MAR opened at $246.48 on Wednesday. The company has a 50 day moving average price of $274.34 and a 200-day moving average price of $270.60. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The firm has a market cap of $67.95 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 3.42 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last posted its earnings results on Tuesday, February 11th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. On average, sell-side analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International’s payout ratio is presently 30.29%.

Insider Buying and Selling at Marriott International

In other news, EVP Rena Hozore Reiss sold 3,500 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the completion of the sale, the executive vice president now owns 24,733 shares of the company’s stock, valued at $7,089,714.45. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William P. Brown sold 12,642 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the completion of the transaction, the insider now directly owns 30,919 shares in the company, valued at approximately $8,831,393.97. This represents a 29.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,694 shares of company stock valued at $8,938,132 over the last ninety days. Corporate insiders own 12.32% 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, City Express by Marriott, and St.