Bank of Montreal Can Trims Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Bank of Montreal Can trimmed its position in Marriott International, Inc. (NASDAQ:MAR) by 2.8% in the 2nd quarter, Holdings Channel reports. The firm owned 585,986 shares of the company’s stock after selling 16,811 shares during the quarter. Bank of Montreal Can’s holdings in Marriott International were worth $143,537,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Roble Belko & Company Inc boosted its stake in Marriott International by 845.5% during the first quarter. Roble Belko & Company Inc now owns 104 shares of the company’s stock valued at $26,000 after buying an additional 93 shares during the period. Bangor Savings Bank raised its holdings in shares of Marriott International by 131.1% in 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 in the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Marriott International during the second quarter worth about $26,000. Benjamin Edwards Inc. bought a new position in shares of Marriott International in the first quarter worth approximately $29,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Marriott International in the second quarter valued at approximately $28,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MAR shares. Truist Financial decreased their price target on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. UBS Group lowered their price target on Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Morgan Stanley cut their price objective on Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company decreased their price objective on Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $248.65.

Marriott International Price Performance

NASDAQ MAR opened at $241.67 on Tuesday. Marriott International, Inc. has a 1 year low of $180.75 and a 1 year high of $260.57. The stock has a market capitalization of $69.03 billion, a PE ratio of 24.94, a PEG ratio of 5.34 and a beta of 1.59. The business’s 50-day moving average is $229.70 and its 200 day moving average is $237.71.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.47 billion. During the same period last year, the company earned $2.26 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Marriott International, Inc. will post 9.37 earnings per share for the current year.

Marriott International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 16th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 1.04%. Marriott International’s dividend payout ratio is 26.01%.

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.