Main Street Financial Solutions LLC Cuts Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Main Street Financial Solutions LLC reduced its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 20.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,088 shares of the company’s stock after selling 274 shares during the period. Main Street Financial Solutions LLC’s holdings in Marriott International were worth $270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ICICI Prudential Asset Management Co Ltd grew its position in shares of Marriott International by 17.2% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 3,675 shares of the company’s stock valued at $914,000 after acquiring an additional 538 shares during the period. Kovack Advisors Inc. grew its holdings in Marriott International by 83.3% during the third quarter. Kovack Advisors Inc. now owns 1,872 shares of the company’s stock valued at $465,000 after purchasing an additional 851 shares during the period. Oppenheimer Asset Management Inc. increased its position in Marriott International by 12.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,122 shares of the company’s stock worth $528,000 after buying an additional 235 shares during the last quarter. GHE LLC lifted its position in shares of Marriott International by 17.0% during the 3rd quarter. GHE LLC now owns 6,549 shares of the company’s stock valued at $1,628,000 after buying an additional 953 shares during the last quarter. Finally, Pinnacle Financial Partners Inc bought a new position in shares of Marriott International during the 3rd quarter worth $99,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MAR has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Truist Financial cut their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company increased their target price on Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Bank of America lifted their price target on Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Evercore ISI raised their target price on Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $259.00.

Marriott International Trading Down 1.6 %

NASDAQ MAR opened at $282.02 on Friday. The stock has a 50-day moving average of $254.51 and a 200-day moving average of $241.18. Marriott International, Inc. has a 1-year low of $200.94 and a 1-year high of $289.04. The firm has a market cap of $78.37 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 5.63 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data 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 net margin of 11.18% and a negative return on equity of 177.91%. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the company posted $2.11 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.89%. Marriott International’s dividend payout ratio is presently 26.36%.

Insider Activity at Marriott International

In other Marriott International news, CAO Felitia Lee sold 916 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the transaction, the chief accounting officer now owns 5,609 shares of the company’s stock, valued at approximately $1,550,776.32. This trade represents a 14.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kathleen K. Oberg sold 2,360 shares of the company’s 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. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,108 shares of company stock worth $3,434,439 over the last quarter. Corporate insiders own 12.32% of the company’s stock.

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.