Pegasus Asset Management Inc. Lowers Holdings in Marriott International, Inc. (NASDAQ:MAR)

Pegasus Asset Management Inc. lowered its position in Marriott International, Inc. (NASDAQ:MAR) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,812 shares of the company’s stock after selling 129 shares during the quarter. Pegasus Asset Management Inc.’s holdings in Marriott International were worth $2,130,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MAR. BDF Gestion purchased a new stake in shares of Marriott International during the 2nd quarter valued at $3,013,000. Parnassus Investments LLC lifted its stake in Marriott International by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 2,457,382 shares of the company’s stock worth $554,164,000 after purchasing an additional 7,135 shares during the last quarter. Redwood Investment Management LLC boosted its holdings in shares of Marriott International by 208.3% in the 4th quarter. Redwood Investment Management LLC now owns 26,927 shares of the company’s stock worth $6,072,000 after purchasing an additional 18,192 shares in the last quarter. CWM LLC raised its holdings in shares of Marriott International by 518.7% during the 2nd quarter. CWM LLC now owns 47,519 shares of the company’s stock valued at $11,489,000 after buying an additional 39,839 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in Marriott International by 3.5% in the 4th quarter. Stifel Financial Corp now owns 124,569 shares of the company’s stock worth $28,092,000 after buying an additional 4,247 shares during the last quarter. Institutional investors own 70.70% of the company’s stock.

Analyst Upgrades and Downgrades

MAR has been the topic of several research reports. Barclays lifted their price target on shares of Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 17th. Truist Financial lowered their price target on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. UBS Group reduced their price objective on Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft dropped their target price on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Susquehanna started coverage on Marriott International in a research note on Friday, June 21st. They issued a “neutral” rating and a $255.00 price target on the stock. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $242.39.

Marriott International Stock Performance

Shares of NASDAQ MAR traded down $0.59 during midday trading on Monday, hitting $224.67. 1,104,942 shares of the company’s stock traded hands, compared to its average volume of 1,486,852. The stock has a market capitalization of $64.17 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 4.24 and a beta of 1.60. The firm has a fifty day moving average of $233.41 and a 200 day moving average of $239.53. Marriott International, Inc. has a 1 year low of $180.75 and a 1 year high of $260.57.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, beating 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 previous year, the company posted $2.26 earnings per share. Marriott International’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts anticipate that Marriott International, Inc. will post 9.29 earnings per share for the current year.

Marriott International Dividend Announcement

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 paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, August 16th. Marriott International’s dividend payout ratio (DPR) is presently 26.01%.

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