Zions Bancorporation N.A. Reduces Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Zions Bancorporation N.A. cut its stake in Marriott International, Inc. (NASDAQ:MAR) by 23.3% in the second quarter, Holdings Channel reports. The institutional investor owned 237 shares of the company’s stock after selling 72 shares during the period. Zions Bancorporation N.A.’s holdings in Marriott International were worth $57,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MAR. Norges Bank purchased a new stake in shares of Marriott International in the fourth quarter worth approximately $461,525,000. Capital International Investors grew its position in Marriott International by 42.2% in the 4th quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock valued at $709,793,000 after acquiring an additional 934,304 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of Marriott International during the first quarter worth $153,697,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Marriott International by 557.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 496,505 shares of the company’s stock valued at $111,967,000 after purchasing an additional 420,962 shares during the period. Finally, Crake Asset Management LLP purchased a new position in Marriott International in the 4th quarter worth about $64,022,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Stock Up 0.5 %

Shares of MAR opened at $231.74 on Monday. The company has a 50 day moving average of $229.93 and a two-hundred day moving average of $238.07. The company has a market cap of $66.19 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 5.34 and a beta of 1.59. Marriott International, Inc. has a twelve month low of $180.75 and a twelve month high of $260.57.

Marriott International (NASDAQ:MAR) last announced its earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.01. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same period in the prior year, the company posted $2.26 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts expect that Marriott International, Inc. will post 9.37 EPS for the current year.

Marriott International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.09%. Marriott International’s dividend payout ratio is currently 26.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MAR shares. Sanford C. Bernstein upgraded shares of Marriott International from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $247.00 to $262.00 in a research note on Thursday, August 29th. Macquarie reissued a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Susquehanna began coverage on Marriott International in a research note on Friday, June 21st. They set a “neutral” rating and a $255.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $246.18.

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, City Express by Marriott, and St.