Marriott International, Inc. (NASDAQ:MAR) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,964 shares of the company’s stock after buying an additional 2,994 shares during the period. CIBC Asset Management Inc’s holdings in Marriott International were worth $20,376,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MAR. OneDigital Investment Advisors LLC increased its holdings in shares of Marriott International by 1.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,107 shares of the company’s stock worth $1,518,000 after acquiring an additional 95 shares during the period. Impax Asset Management Group plc raised its holdings in shares of Marriott International by 3.0% during the third quarter. Impax Asset Management Group plc now owns 31,614 shares of the company’s stock valued at $7,859,000 after buying an additional 930 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Marriott International by 4.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,471 shares of the company’s stock worth $1,857,000 after buying an additional 339 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Marriott International in the 3rd quarter valued at approximately $70,000. Finally, ICICI Prudential Asset Management Co Ltd raised its stake in 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 in the last quarter. Institutional investors own 70.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Evercore ISI increased their price objective on shares of Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Wells Fargo & Company upped 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. The Goldman Sachs Group started coverage on Marriott International in a research report on Wednesday, September 18th. They set a “buy” rating and a $267.00 price target on the stock. Finally, Morgan Stanley decreased their target price on Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Marriott International has a consensus rating of “Hold” and an average price target of $259.00.

Marriott International Stock Down 1.1 %

Shares of MAR stock opened at $278.78 on Friday. The business’s 50 day moving average is $255.57 and its two-hundred day moving average is $241.46. Marriott International, Inc. has a 12 month low of $200.94 and a 12 month high of $289.04. The company has a market cap of $77.47 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 5.63 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last issued its quarterly 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 for the quarter, compared to analyst estimates of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.11 earnings per share. As a group, equities analysts expect that Marriott International, Inc. will post 9.26 EPS for the current fiscal year.

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, November 21st. Marriott International’s dividend payout ratio is currently 26.36%.

Insider Buying and Selling

In related news, CFO Kathleen K. Oberg sold 2,360 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $285.41, for a total value of $673,567.60. Following the completion of the transaction, the chief financial officer now owns 39,726 shares of the company’s stock, valued at $11,338,197.66. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total value of $137,245.00. Following the completion of the transaction, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. The trade was a 3.91 % 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 valued at $3,434,439 over the last three months. 12.32% of the stock is owned by corporate insiders.

Marriott International Profile

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.