Forsta AP Fonden Sells 12,400 Shares of Marriott International, Inc. (NASDAQ:MAR)

Forsta AP Fonden reduced its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 20.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,200 shares of the company’s stock after selling 12,400 shares during the quarter. Forsta AP Fonden’s holdings in Marriott International were worth $12,231,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MAR. Mirae Asset Global Investments Co. Ltd. increased its position in Marriott International by 15.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,411 shares of the company’s stock worth $17,564,000 after purchasing an additional 9,343 shares during the period. BayBridge Capital Group LLC bought a new position in shares of Marriott International in the 3rd quarter valued at about $1,254,000. Burke & Herbert Bank & Trust Co. raised its stake in shares of Marriott International by 26.0% during the third quarter. Burke & Herbert Bank & Trust Co. now owns 3,849 shares of the company’s stock worth $957,000 after buying an additional 794 shares during the last quarter. Dakota Wealth Management lifted its holdings in Marriott International by 2.4% in the third quarter. Dakota Wealth Management now owns 7,661 shares of the company’s stock valued at $1,904,000 after buying an additional 183 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Marriott International by 1,621.4% in the third quarter. Assenagon Asset Management S.A. now owns 86,328 shares of the company’s stock valued at $21,461,000 after acquiring an additional 81,313 shares during the last quarter. Institutional investors own 70.70% of the company’s stock.

Marriott International Price Performance

MAR stock opened at $262.12 on Monday. The business has a 50-day moving average of $243.35 and a 200-day moving average of $238.64. Marriott International, Inc. has a fifty-two week low of $180.75 and a fifty-two week high of $266.58. The stock has a market capitalization of $74.87 billion, a P/E ratio of 27.05, a P/E/G ratio of 6.36 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, topping 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 company had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same period last year, the business earned $2.26 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts expect that Marriott International, Inc. will post 9.37 EPS for the current year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 16th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, August 16th. Marriott International’s payout ratio is 26.01%.

Analyst Upgrades and Downgrades

Several analysts have commented on MAR shares. JPMorgan Chase & Co. upped their target price on shares of Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. BMO Capital Markets raised their target price on Marriott International from $240.00 to $255.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Morgan Stanley cut their price target on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Barclays boosted their price objective on shares of Marriott International from $240.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, July 17th. Finally, Bank of America increased their target price on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $256.39.

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.