Pitti Group Wealth Management LLC Sells 825 Shares of Marriott International, Inc. (NASDAQ:MAR)

Pitti Group Wealth Management LLC trimmed its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 22.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,827 shares of the company’s stock after selling 825 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in Marriott International were worth $637,000 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 the stock. Grove Bank & Trust increased its holdings in Marriott International by 3.4% in the fourth quarter. Grove Bank & Trust now owns 1,307 shares of the company’s stock worth $295,000 after purchasing an additional 43 shares in the last quarter. Argus Investors Counsel Inc. increased its holdings in Marriott International by 0.6% in the fourth quarter. Argus Investors Counsel Inc. now owns 7,731 shares of the company’s stock worth $1,743,000 after purchasing an additional 45 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Marriott International by 2.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,673 shares of the company’s stock worth $377,000 after purchasing an additional 45 shares in the last quarter. ORG Partners LLC increased its holdings in Marriott International by 72.6% in the fourth quarter. ORG Partners LLC now owns 126 shares of the company’s stock worth $29,000 after purchasing an additional 53 shares in the last quarter. Finally, Chicago Capital LLC grew its stake in Marriott International by 1.2% in the third quarter. Chicago Capital LLC now owns 4,597 shares of the company’s stock valued at $904,000 after acquiring an additional 54 shares during the period. 70.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on MAR. 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. 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. 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, April 23rd. Barclays raised their price objective on Marriott International from $239.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. Finally, UBS Group lifted their target price on Marriott International from $210.00 to $259.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $236.69.

Marriott International Stock Down 0.5 %

Marriott International stock traded down $1.10 during mid-day trading on Friday, reaching $240.84. 1,065,547 shares of the company’s stock were exchanged, compared to its average volume of 1,409,872. The business’s fifty day simple moving average is $248.36 and its 200 day simple moving average is $227.23. The firm has a market capitalization of $69.60 billion, a PE ratio of 23.63, a P/E/G ratio of 5.37 and a beta of 1.62. Marriott International, Inc. has a one year low of $162.77 and a one year high of $260.57.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $1.45. Marriott International had a negative return on equity of 848.49% and a net margin of 13.00%. The firm had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that Marriott International, Inc. will post 9.46 earnings per share for the current year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.86%. Marriott International’s dividend payout ratio is presently 20.41%.

Insider Activity

In related news, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $240.39, for a total transaction of $856,509.57. Following the sale, the executive vice president now owns 36,778 shares of the company’s stock, valued at approximately $8,841,063.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $240.39, for a total transaction of $856,509.57. Following the sale, the executive vice president now owns 36,778 shares of the company’s stock, valued at approximately $8,841,063.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Hippeau sold 1,400 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total value of $351,666.00. Following the sale, the director now directly owns 72 shares in the company, valued at approximately $18,085.68. The disclosure for this sale can be found here. Insiders have sold 125,003 shares of company stock valued at $30,435,493 in the last 90 days. 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.