Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Tobam

Tobam decreased its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 69.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 429 shares of the company’s stock after selling 977 shares during the period. Tobam’s holdings in Marriott International were worth $104,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in Marriott International during the 4th quarter valued at about $564,000. Kestra Private Wealth Services LLC boosted its position in shares of Marriott International by 2.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 7,491 shares of the company’s stock worth $1,689,000 after buying an additional 146 shares during the period. Penobscot Investment Management Company Inc. increased its position in Marriott International by 11.0% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,880 shares of the company’s stock valued at $1,100,000 after acquiring an additional 485 shares during the period. Mission Wealth Management LP raised its stake in Marriott International by 3.6% during the 4th quarter. Mission Wealth Management LP now owns 2,218 shares of the company’s stock valued at $500,000 after acquiring an additional 78 shares in the last quarter. Finally, Brighton Jones LLC boosted its position in Marriott International by 0.8% during the 4th quarter. Brighton Jones LLC now owns 8,757 shares of the company’s stock worth $1,975,000 after acquiring an additional 68 shares during the period. 70.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MAR has been the subject of several research analyst reports. Barclays upped their price objective on shares of Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 17th. Wells Fargo & Company reduced their price target on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. UBS Group dropped their target price on Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Truist Financial decreased their price target on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Marriott International currently has an average rating of “Hold” and a consensus target price of $244.44.

Marriott International Trading Up 1.4 %

Shares of Marriott International stock opened at $234.69 on Friday. Marriott International, Inc. has a 1 year low of $180.75 and a 1 year high of $260.57. The stock has a 50-day moving average price of $232.53 and a 200 day moving average price of $239.26. The company has a market cap of $67.03 billion, a P/E ratio of 24.22, a P/E/G ratio of 4.24 and a beta of 1.60.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The business had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same period in the previous year, the company posted $2.26 EPS. Marriott International’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts forecast that Marriott International, Inc. will post 9.29 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, August 16th. Marriott International’s payout ratio is presently 26.01%.

Marriott International Company 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.