Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,758,058 shares of the company’s stock after selling 27,973 shares during the period. Legal & General Group Plc owned approximately 0.62% of Marriott International worth $425,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MAR. Capital International Investors increased its holdings in Marriott International by 42.2% in the fourth quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock valued at $709,793,000 after buying an additional 934,304 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Marriott International during the first quarter worth approximately $153,697,000. Public Employees Retirement Association of Colorado increased its position in shares of Marriott International by 557.2% in 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 buying an additional 420,962 shares in the last quarter. Pathstone Holdings LLC acquired a new position in shares of Marriott International during the 4th quarter worth approximately $46,187,000. Finally, JPMorgan Chase & Co. grew its stake in Marriott International by 1.8% in the 1st quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after acquiring an additional 192,652 shares during the period. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Stock Performance

NASDAQ MAR opened at $253.04 on Friday. Marriott International, Inc. has a one year low of $180.75 and a one year high of $260.57. The firm has a 50 day simple moving average of $229.82 and a 200-day simple moving average of $237.86. The firm has a market cap of $71.24 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 5.68 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last released its earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period last year, the business posted $2.26 earnings per share. Marriott International’s revenue was up 6.0% compared to the same quarter last year. Equities analysts predict that Marriott International, Inc. will post 9.37 EPS for the current fiscal year.

Marriott International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, August 16th. Marriott International’s dividend payout ratio (DPR) is presently 26.01%.

Wall Street Analyst Weigh In

MAR has been the topic of a number of research reports. UBS Group decreased their price target on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Truist Financial dropped their price target on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Morgan Stanley decreased their price objective on Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Robert W. Baird reduced their target price 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, JPMorgan Chase & Co. boosted their price target on shares of Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Marriott International has an average rating of “Hold” and a consensus target price of $248.65.

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.