BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Position in Marriott International, Inc. (NASDAQ:MAR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,513 shares of the company’s stock after selling 6,617 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Marriott International were worth $10,072,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Bangor Savings Bank boosted its holdings in Marriott International by 131.1% in the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after buying an additional 59 shares during the period. Hantz Financial Services Inc. bought a new position in Marriott International in the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC bought a new position in Marriott International in the 2nd quarter worth approximately $28,000. Silvant Capital Management LLC bought a new position in Marriott International in the 3rd quarter worth approximately $31,000. Finally, Darwin Wealth Management LLC bought a new position in Marriott International in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Insider Buying and Selling at Marriott International

In related news, CFO Kathleen K. Oberg sold 2,360 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $285.41, for a total transaction of $673,567.60. Following the transaction, the chief financial officer now owns 39,726 shares in the company, valued at $11,338,197.66. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William P. Brown sold 1,707 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $284.30, for a total transaction of $485,300.10. Following the transaction, the insider now owns 23,077 shares in the company, valued at $6,560,791.10. This represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,815 shares of company stock worth $3,919,739. 12.32% of the stock is currently owned by company insiders.

Marriott International Stock Up 1.2 %

Shares of NASDAQ:MAR opened at $289.09 on Monday. The stock has a market cap of $80.34 billion, a PE ratio of 30.24, a PEG ratio of 5.69 and a beta of 1.58. The company’s fifty day moving average is $266.70 and its 200 day moving average is $245.20. Marriott International, Inc. has a 52 week low of $200.94 and a 52 week high of $290.43.

Marriott International (NASDAQ:MAR) last issued its earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. Marriott International’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.11 EPS. Sell-side analysts anticipate that Marriott International, Inc. will post 9.26 EPS for the current year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Thursday, November 21st. Marriott International’s payout ratio is 26.36%.

Wall Street Analysts Forecast Growth

MAR has been the subject of several analyst reports. Morgan Stanley cut their price objective on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Barclays raised their price target on shares of Marriott International from $240.00 to $249.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. TD Cowen cut their price target on shares of Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Mizuho raised their price target on shares of Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird raised their price target on shares of Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $260.20.

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.