Conning Inc. Acquires 118 Shares of Marriott International, Inc. (NASDAQ:MAR)

Conning Inc. increased its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,909 shares of the company’s stock after acquiring an additional 118 shares during the quarter. Conning Inc.’s holdings in Marriott International were worth $462,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Marriott International in the fourth quarter valued at about $461,525,000. Capital International Investors increased its holdings in shares of Marriott International by 42.2% in the fourth quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock worth $709,793,000 after acquiring an additional 934,304 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of Marriott International in the first quarter worth about $153,697,000. Public Employees Retirement Association of Colorado increased its holdings 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 in the last quarter. Finally, Crake Asset Management LLP bought a new position in shares of Marriott International during the fourth quarter worth about $64,022,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Trading Down 0.1 %

MAR stock traded down $0.30 during midday trading on Wednesday, hitting $227.32. The company’s stock had a trading volume of 1,023,889 shares, compared to its average volume of 1,481,239. The company has a market cap of $64.93 billion, a PE ratio of 23.49, a P/E/G ratio of 4.24 and a beta of 1.60. Marriott International, Inc. has a 12 month low of $180.75 and a 12 month high of $260.57. The firm’s 50-day moving average is $233.41 and its 200-day moving average is $239.53.

Marriott International (NASDAQ:MAR) last announced its earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. The business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.47 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.26 EPS. Analysts expect that Marriott International, Inc. will post 9.29 earnings per share for the current year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Friday, August 16th. Marriott International’s dividend payout ratio (DPR) is presently 26.01%.

Analyst Ratings Changes

A number of research analysts have weighed in on MAR shares. JPMorgan Chase & Co. raised their price target on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Robert W. Baird dropped their price target on Marriott International from $252.00 to $245.00 and set a “neutral” rating for the company in a report on Thursday, August 1st. UBS Group dropped their price target on Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Macquarie reaffirmed a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a report on Friday, August 2nd. Finally, Mizuho lifted their price objective on Marriott International from $260.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $242.39.

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