Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC trimmed its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 30.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 828 shares of the company’s stock after selling 367 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Marriott International were worth $200,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in MAR. Norges Bank acquired a new position in Marriott International during the 4th quarter valued at about $461,525,000. Capital International Investors increased its holdings in shares of 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 purchasing an additional 934,304 shares during the period. Global Assets Advisory LLC purchased a new position in shares of Marriott International during the 1st quarter valued at $153,697,000. Public Employees Retirement Association of Colorado increased its stake 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 worth $111,967,000 after acquiring an additional 420,962 shares during the last quarter. Finally, Crake Asset Management LLP purchased a new stake in shares of Marriott International during the fourth quarter worth $64,022,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Marriott International Stock Down 0.3 %

MAR stock traded down $0.79 during midday trading on Wednesday, hitting $226.83. The company’s stock had a trading volume of 268,357 shares, compared to its average volume of 1,476,687. Marriott International, Inc. has a 1 year low of $180.75 and a 1 year high of $260.57. The stock has a market cap of $64.79 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 4.24 and a beta of 1.60. The stock’s 50-day moving average price is $233.41 and its 200 day moving average price is $239.53.

Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same quarter in the prior year, the firm earned $2.26 earnings per share. Marriott International’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts forecast that Marriott International, Inc. will post 9.29 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The company also recently announced 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 of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 1.11%. Marriott International’s dividend payout ratio (DPR) is presently 26.01%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MAR. Robert W. Baird cut their price objective on Marriott International from $252.00 to $245.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Truist Financial dropped their target price on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company reduced their target price on Marriott International from $248.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Susquehanna started coverage on Marriott International in a report on Friday, June 21st. They issued a “neutral” rating and a $255.00 target price for the company. Finally, BMO Capital Markets upped their price objective on Marriott International from $235.00 to $240.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Marriott International presently has an average rating of “Hold” and a consensus target price of $242.39.

Marriott International 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.