BETHESDA, MD—Benjamin T. Breland, the Executive Vice President and Chief Human Resources Officer at Marriott International Inc. (NASDAQ:MAR), recently sold a portion of his holdings in the company. According to a recent SEC filing, Breland sold 880 shares of the company's Class A Common Stock at a price of $284.25 per share, amounting to a total transaction value of $250,140.
Following this transaction, Breland retains direct ownership of 11,403.527 shares of Class A Common Stock. Additionally, he holds 13,583 shares of Class A Common - Restricted Stock Units and 1,212.913 shares indirectly through a 401(k) account.
This stock sale is part of Breland's ongoing management of his equity stake in Marriott, where he plays a significant role as a high-ranking executive.
In other recent news, Marriott International has seen a series of financial adjustments and projections from various firms. TD (TSX:TD) Cowen maintained a Buy rating on Marriott but reduced the stock's price target from $295.00 to $283.00, reflecting third-quarter performance and future expectations. The company's third-quarter Revenue per Available Room (RevPAR) increased by 3%, and a 2-3% increase is anticipated for the fourth quarter. The company also announced a significant cost reduction plan, aiming to cut $80-90 million in G&A expenses.
BMO (TSX:BMO) Capital Markets updated its outlook, increasing Marriott's price target from $255.00 to $265.00 while maintaining a Market Perform rating. The firm highlighted Marriott's cost-saving initiatives aimed at 2025, expected to balance lower fee growth projections. Mizuho (NYSE:MFG) Securities also adjusted its outlook, increasing the price target to $246.00 from the previous $233.00, maintaining a Neutral rating. The revision reflects a more optimistic view of the company's future performance, particularly in relation to its algorithmic fee growth.
Baird raised Marriott's price target from $258.00 to $264.00, maintaining a Neutral rating. The firm anticipates improvements in Marriott's organic net unit growth starting in 2025, with the company's general and administrative expense reductions expected to enhance earnings estimates. Goldman Sachs (NYSE:GS) raised the hotel chain's price target from $267.00 to $280.00, highlighting Marriott's long-term prospects, including a new cost-saving initiative expected to generate $80-$90 million in savings in the next year. These are the recent developments in Marriott's financial landscape.
InvestingPro Insights
To provide additional context to Benjamin T. Breland's recent stock sale, it's worth examining some key financial metrics and insights about Marriott International Inc. (NASDAQ:MAR).
According to InvestingPro data, Marriott's market capitalization stands at $79.7 billion, reflecting its position as a major player in the hospitality industry. The company's P/E ratio of 29.79 suggests that investors are willing to pay a premium for its earnings, potentially due to expectations of future growth or the company's strong market position.
Marriott's financial performance has been robust, with a revenue of $6.57 billion in the last twelve months as of Q3 2024, representing a 7.25% growth. The company's gross profit margin is particularly impressive at 81.95%, indicating strong pricing power and efficient cost management in its operations.
InvestingPro Tips highlight that Marriott has raised its dividend for 3 consecutive years, which may be attractive to income-focused investors. The company's dividend yield stands at 0.88%, with a notable dividend growth of 21.15% in the last twelve months.
It's also worth noting that Marriott's stock has shown significant momentum, with a 33.56% price total return over the past three months and a 46.17% return over the past year. The stock is currently trading near its 52-week high, with the price at 99.95% of its highest point over the past year.
These insights provide a broader perspective on Marriott's financial health and stock performance, which may help contextualize executive stock transactions like Breland's recent sale. Investors interested in a more comprehensive analysis can access additional InvestingPro Tips, with 18 more tips available for Marriott International.
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