Sigma Planning Corp Sells 2,579 Shares of Marriott International, Inc. (NASDAQ:MAR)

Sigma Planning Corp cut its stake in Marriott International, Inc. (NASDAQ:MAR) by 26.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,291 shares of the company’s stock after selling 2,579 shares during the quarter. Sigma Planning Corp’s holdings in Marriott International were worth $1,813,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Canoe Financial LP bought a new stake in Marriott International in the 3rd quarter worth about $77,331,000. International Assets Investment Management LLC boosted its holdings in shares of Marriott International by 15,148.3% in the 3rd quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock worth $75,208,000 after buying an additional 300,543 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Marriott International by 36,856.7% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock worth $58,346,000 after buying an additional 240,674 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Marriott International by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after acquiring an additional 192,652 shares during the last quarter. Finally, Capital International Investors grew its position in shares of Marriott International by 4.7% during the 1st quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after acquiring an additional 149,378 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marriott International

In related news, EVP Benjamin T. Breland sold 500 shares of Marriott International stock in a transaction on 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 directly owns 12,286 shares of the company’s stock, valued at $3,372,384.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Marriott International news, EVP Benjamin T. Breland sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 owns 12,286 shares of the company’s stock, valued at $3,372,384.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Felitia Lee sold 916 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total value of $253,255.68. Following the transaction, the chief accounting officer now directly owns 5,609 shares in the company, valued at $1,550,776.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.32% of the stock is currently owned by company insiders.

Marriott International Stock Up 1.8 %

Shares of MAR stock opened at $285.91 on Tuesday. The business has a 50-day moving average price of $251.24 and a two-hundred day moving average price of $240.23. The firm has a market cap of $79.45 billion, a P/E ratio of 29.91, a price-to-earnings-growth ratio of 6.15 and a beta of 1.58. Marriott International, Inc. has a 12-month low of $196.24 and a 12-month high of $286.19.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing the consensus estimate 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 business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same period last year, the business posted $2.11 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, research analysts expect that Marriott International, Inc. will post 9.27 EPS for the current fiscal year.

Marriott International Announces Dividend

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 $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 0.88%. Marriott International’s dividend payout ratio is currently 26.36%.

Analysts Set New Price Targets

Several equities analysts have weighed in on MAR shares. JPMorgan Chase & Co. increased their price objective on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Barclays boosted their price objective on Marriott International from $240.00 to $249.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group initiated coverage on shares of Marriott International in a research note on Wednesday, September 18th. They issued a “buy” rating and a $267.00 target price for the company. Sanford C. Bernstein lifted their price objective on shares of Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, BMO Capital Markets lifted their target price on Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $259.00.

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.