Amalgamated Bank Sells 1,964 Shares of Marriott International, Inc. (NASDAQ:MAR)

Amalgamated Bank reduced its position in Marriott International, Inc. (NASDAQ:MAR) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,806 shares of the company’s stock after selling 1,964 shares during the quarter. Amalgamated Bank’s holdings in Marriott International were worth $12,498,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Jensen Investment Management Inc. acquired a new stake in Marriott International in the 3rd quarter worth approximately $793,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Marriott International by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock worth $140,844,000 after buying an additional 2,723 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Marriott International during the third quarter worth $2,721,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Marriott International during the fourth quarter valued at $2,990,000. Finally, Kinsale Capital Group Inc. purchased a new position in Marriott International in the 3rd quarter worth $3,769,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marriott International

In related news, insider William P. Brown sold 12,642 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the completion of the sale, the insider now owns 30,919 shares of the company’s stock, valued at approximately $8,831,393.97. This represents a 29.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathleen K. Oberg sold 14,498 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the completion of the transaction, the chief financial officer now directly owns 14,282 shares in the company, valued at $3,971,395.74. This trade represents a 50.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,640 shares of company stock valued at $8,645,668. 10.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MAR shares. Truist Financial raised their price objective on Marriott International from $277.00 to $308.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. BMO Capital Markets lifted their price objective on shares of Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. TD Cowen reduced their target price 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. Wells Fargo & Company lowered their price target 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, Macquarie reiterated a “neutral” rating and set a $245.00 price objective on shares of Marriott International in a research note on Tuesday, November 5th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $284.05.

Marriott International Stock Performance

Shares of NASDAQ MAR opened at $277.46 on Wednesday. The firm has a fifty day moving average of $283.22 and a 200 day moving average of $266.30. The firm has a market cap of $76.49 billion, a PE ratio of 33.35, a PEG ratio of 3.42 and a beta of 1.57. Marriott International, Inc. has a one year low of $204.55 and a one year high of $307.52.

Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, February 11th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. On average, equities analysts predict that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International’s payout ratio is 30.29%.

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.