Aberdeen Group plc significantly increased its stake in Marriott International, Inc. (NASDAQ: MAR) during the third quarter, boosting its holdings by 112.9%. The firm now owns 361,748 shares, valued at $128,663,000, representing about 0.14% of the company. This move comes amid broader institutional interest, with several other major investors also adjusting their positions in Marriott.
State Street Corp raised its holdings by 2.9% in the second quarter, now owning 9,644,773 shares worth $3,574,256,000. Dimensional Fund Advisors LP increased its position by 0.8% in the first quarter, holding 727,472 shares valued at $237,893,000. Swiss National Bank and Robeco Institutional Asset Management B.V. both raised their stakes by 5.9% in the first and third quarters, respectively. Hsbc Holdings PLC lifted its position by 15.3% during the second quarter, now owning 470,593 shares worth $174,311,000.
Despite the institutional buying, insider transactions have raised some concerns. EVP Rena Reiss sold 4,969 shares on November 4th at an average price of $423.32, reducing her ownership by 11.31%. CEO Anthony Capuano sold 63,355 shares on the same day at $420.12 each, decreasing his position by 55.47%. In total, insiders have sold 92,953 shares valued at $38,628,659 over the last three months.
Marriott's recent earnings report beat expectations, reporting $3.02 earnings per share for the quarter, surpassing the consensus estimate of $2.84. The company's revenue was $7 billion, up 8.0% year-over-year. Analysts have mixed views on the stock, with a consensus rating of "Moderate Buy" and an average price target of $399.04. The stock opened at $423.16 on Friday, with a market cap of $108.96 billion.