Accordant Advisory Group Inc Cuts Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Accordant Advisory Group Inc decreased its position in Marriott International, Inc. (NASDAQ:MAR) by 14.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 600 shares of the company’s stock after selling 100 shares during the quarter. Accordant Advisory Group Inc’s holdings in Marriott International were worth $143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Marriott International in the 4th quarter valued at about $580,922,000. Wellington Management Group LLP boosted its stake in shares of Marriott International by 50.8% during the fourth quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company’s stock valued at $1,300,168,000 after purchasing an additional 1,570,144 shares during the period. GAMMA Investing LLC grew its holdings in shares of Marriott International by 23,923.3% in the first quarter. GAMMA Investing LLC now owns 731,989 shares of the company’s stock worth $174,360,000 after purchasing an additional 728,942 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Marriott International in the fourth quarter worth $165,162,000. Finally, Invesco Ltd. raised its holdings in Marriott International by 17.4% during the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company’s stock valued at $967,662,000 after buying an additional 512,963 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Insider Buying and Selling

In other news, EVP Benjamin T. Breland sold 1,000 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the sale, the executive vice president now directly owns 20,724 shares in the company, valued at $5,599,832.04. This trade represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony Capuano sold 12,000 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $263.90, for a total value of $3,166,800.00. Following the sale, the chief executive officer now directly owns 124,067 shares in the company, valued at approximately $32,741,281.30. This represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by insiders.

Marriott International Stock Performance

MAR opened at $266.06 on Thursday. The company’s 50-day simple moving average is $247.75 and its two-hundred day simple moving average is $265.25. The stock has a market capitalization of $72.87 billion, a P/E ratio of 31.98, a P/E/G ratio of 3.42 and a beta of 1.42. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.07. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.19 billion. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 earnings per share. Research analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.67 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.68 annualized dividend and a dividend yield of 1.01%. This is a positive change from Marriott International’s previous quarterly dividend of $0.63. Marriott International’s dividend payout ratio is presently 30.52%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Melius Research upgraded shares of Marriott International to a “strong-buy” rating in a research report on Monday, April 21st. Robert W. Baird lifted their price objective on Marriott International from $250.00 to $265.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Dbs Bank upgraded Marriott International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 14th. Wells Fargo & Company cut their price objective on shares of Marriott International from $285.00 to $277.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Finally, BMO Capital Markets lifted their target price on shares of Marriott International from $250.00 to $265.00 and gave the company a “market perform” rating in a report on Wednesday, May 7th. Thirteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.15.

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.