RKL Wealth Management LLC Cuts Holdings in Marriott International, Inc. (NASDAQ:MAR)

RKL Wealth Management LLC reduced its position in Marriott International, Inc. (NASDAQ:MAR) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,714 shares of the company’s stock after selling 61 shares during the period. RKL Wealth Management LLC’s holdings in Marriott International were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings in shares of Marriott International by 0.4% in the third quarter. Harbor Capital Advisors Inc. now owns 8,698 shares of the company’s stock worth $2,162,000 after purchasing an additional 38 shares during the last quarter. Rockland Trust Co. increased its holdings in shares of Marriott International by 2.3% in the second quarter. Rockland Trust Co. now owns 1,802 shares of the company’s stock worth $436,000 after purchasing an additional 41 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Marriott International by 1.4% in the second quarter. Park Avenue Securities LLC now owns 3,298 shares of the company’s stock worth $797,000 after purchasing an additional 46 shares during the last quarter. SeaCrest Wealth Management LLC grew its position in Marriott International by 1.5% in the second quarter. SeaCrest Wealth Management LLC now owns 3,075 shares of the company’s stock worth $743,000 after acquiring an additional 46 shares in the last quarter. Finally, Quent Capital LLC grew its position in Marriott International by 7.9% in the first quarter. Quent Capital LLC now owns 644 shares of the company’s stock worth $162,000 after acquiring an additional 47 shares in the last quarter. 70.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on MAR shares. The Goldman Sachs Group started coverage on Marriott International in a research report on Wednesday, September 18th. They issued a “buy” rating and a $267.00 price target for the company. Mizuho lifted their price target on Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their price target 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. TD Cowen dropped their price target on Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, BMO Capital Markets lifted their price target on Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $259.00.

Marriott International Stock Performance

Shares of NASDAQ MAR opened at $280.80 on Friday. The firm has a market capitalization of $78.03 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 6.05 and a beta of 1.58. The stock has a 50 day moving average price of $251.24 and a 200 day moving average price of $240.26. Marriott International, Inc. has a 52-week low of $192.27 and a 52-week high of $282.80.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.11 EPS. Analysts forecast that Marriott International, Inc. will post 9.27 earnings per share for the current year.

Marriott International Dividend Announcement

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

Insider Activity at Marriott International

In related news, EVP Benjamin T. Breland sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 12,286 shares of the company’s stock, valued at $3,372,384.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Benjamin T. Breland sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 12,286 shares of the company’s stock, valued at $3,372,384.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Felitia Lee sold 916 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the transaction, the chief accounting officer now directly owns 5,609 shares of the company’s stock, valued at $1,550,776.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.32% of the stock is owned by company insiders.

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.