Nippon Life Global Investors Americas Inc. Cuts Holdings in Marriott International, Inc. (NASDAQ:MAR)

Nippon Life Global Investors Americas Inc. reduced its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 17.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,960 shares of the company’s stock after selling 11,770 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Marriott International were worth $13,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MAR. Bangor Savings Bank boosted its holdings in shares of Marriott International by 131.1% during the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock valued at $25,000 after acquiring an additional 59 shares during the last quarter. Roble Belko & Company Inc boosted its holdings in Marriott International by 845.5% in the first quarter. Roble Belko & Company Inc now owns 104 shares of the company’s stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in Marriott International in the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in Marriott International during the 2nd quarter valued at $28,000. Finally, Benjamin Edwards Inc. purchased a new position in shares of Marriott International in the 1st quarter worth $29,000. 70.70% of the stock is currently owned by institutional investors.

Marriott International Stock Performance

Shares of NASDAQ:MAR opened at $244.39 on Monday. The firm has a market cap of $69.80 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 5.34 and a beta of 1.59. The firm has a fifty day moving average price of $229.80 and a 200 day moving average price of $237.74. Marriott International, Inc. has a fifty-two week low of $180.75 and a fifty-two week high of $260.57.

Marriott International (NASDAQ:MAR) last posted its earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.01. The company had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.26 earnings per share. As a group, research analysts predict that Marriott International, Inc. will post 9.37 earnings per share for the current year.

Marriott International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, August 16th. Marriott International’s payout ratio is 26.01%.

Analysts Set New Price Targets

MAR has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Macquarie reissued a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a report on Friday, August 2nd. Sanford C. Bernstein raised shares of Marriott International from a “market perform” rating to an “outperform” rating and upped their target price for the company from $247.00 to $262.00 in a report on Thursday, August 29th. Robert W. Baird cut their price objective on shares of Marriott International from $252.00 to $245.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Finally, Morgan Stanley decreased their target price on Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $248.65.

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.