Kornitzer Capital Management Inc. KS Sells 4,809 Shares of Marriott International, Inc. (NASDAQ:MAR)

Kornitzer Capital Management Inc. KS trimmed its holdings in Marriott International, Inc. (NASDAQ:MAR) by 10.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 40,284 shares of the company’s stock after selling 4,809 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Marriott International were worth $9,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caprock Group LLC lifted its position in shares of Marriott International by 255.1% during the fourth quarter. Caprock Group LLC now owns 11,781 shares of the company’s stock worth $2,657,000 after purchasing an additional 8,463 shares during the last quarter. Cerity Partners LLC lifted its holdings in Marriott International by 86.8% during the 4th quarter. Cerity Partners LLC now owns 44,957 shares of the company’s stock valued at $10,138,000 after buying an additional 20,890 shares in the last quarter. Impax Asset Management Group plc boosted its position in Marriott International by 88.4% in the 4th quarter. Impax Asset Management Group plc now owns 10,426 shares of the company’s stock valued at $2,351,000 after buying an additional 4,892 shares during the period. International Assets Investment Management LLC grew its stake in Marriott International by 1,487.6% in the 4th quarter. International Assets Investment Management LLC now owns 345,246 shares of the company’s stock worth $77,856,000 after acquiring an additional 323,500 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of Marriott International by 14.7% during the fourth quarter. Vontobel Holding Ltd. now owns 79,403 shares of the company’s stock valued at $17,906,000 after acquiring an additional 10,197 shares in the last quarter. 70.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Eric Hippeau sold 1,400 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total transaction of $351,666.00. Following the completion of the transaction, the director now directly owns 72 shares in the company, valued at $18,085.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Eric Hippeau sold 1,400 shares of Marriott International stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total transaction of $351,666.00. Following the completion of the transaction, the director now directly owns 72 shares in the company, valued at $18,085.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David S. Marriott sold 2,878 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $248.94, for a total value of $716,449.32. Following the completion of the sale, the insider now owns 596,042 shares in the company, valued at approximately $148,378,695.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,003 shares of company stock valued at $30,435,493. 12.32% of the stock is owned by insiders.

Marriott International Stock Performance

MAR stock traded down $0.30 on Friday, hitting $236.00. 1,842,310 shares of the company’s stock were exchanged, compared to its average volume of 1,319,787. Marriott International, Inc. has a 12-month low of $162.77 and a 12-month high of $260.57. The stock has a market cap of $68.20 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 1.72 and a beta of 1.62. The firm has a 50 day moving average price of $248.31 and a two-hundred day moving average price of $225.41.

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

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 22nd were given a $0.52 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.08 dividend on an annualized basis and a yield of 0.88%. Marriott International’s dividend payout ratio is currently 20.41%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MAR. Mizuho started coverage on Marriott International in a research note on Tuesday, March 26th. They issued a “neutral” rating and a $263.00 price objective on the stock. Argus raised their price target on Marriott International from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Wells Fargo & Company upped their price objective on shares of Marriott International from $234.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, March 18th. Jefferies Financial Group boosted their price target on shares of Marriott International from $205.00 to $227.00 and gave the company a “hold” rating in a report on Tuesday, January 2nd. Finally, UBS Group increased their price objective on shares of Marriott International from $210.00 to $259.00 and gave the company a “neutral” rating in a research note 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.com, Marriott International presently has a consensus rating of “Hold” and an average target price of $236.88.

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.