American International Group Inc. Cuts Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

American International Group Inc. trimmed its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,723 shares of the company’s stock after selling 1,297 shares during the period. American International Group Inc.’s holdings in Marriott International were worth $21,376,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lake Street Advisors Group LLC grew its stake in shares of Marriott International by 64.7% in the 1st quarter. Lake Street Advisors Group LLC now owns 3,239 shares of the company’s stock worth $817,000 after buying an additional 1,272 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Marriott International by 151.7% in the 1st quarter. Bessemer Group Inc. now owns 16,047 shares of the company’s stock worth $4,049,000 after buying an additional 9,671 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in shares of Marriott International by 207.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 7,124 shares of the company’s stock worth $1,797,000 after buying an additional 4,807 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Marriott International by 9.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 78,851 shares of the company’s stock worth $19,895,000 after buying an additional 6,911 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. grew its stake in shares of Marriott International by 3.1% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 5,030 shares of the company’s stock worth $1,269,000 after buying an additional 150 shares in the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MAR shares. Wells Fargo & Company lowered their target price on shares of Marriott International from $250.00 to $248.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Susquehanna started coverage on shares of Marriott International in a report on Friday, June 21st. They issued a “neutral” rating and a $255.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Barclays raised their target price on shares of Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 17th. Finally, Mizuho raised their target price on shares of Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $243.59.

Marriott International Stock Down 3.0 %

Shares of Marriott International stock traded down $7.27 on Wednesday, reaching $235.04. The stock had a trading volume of 1,762,579 shares, compared to its average volume of 1,449,193. The company has a 50 day moving average price of $239.03 and a 200 day moving average price of $241.75. 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 $67.13 billion, a P/E ratio of 24.26, a P/E/G ratio of 4.57 and a beta of 1.60.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The firm had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.95 billion. During the same period in the previous year, the firm earned $2.09 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that Marriott International, Inc. will post 9.56 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 24th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.07%. The ex-dividend date was Thursday, May 23rd. This is an increase from Marriott International’s previous quarterly dividend of $0.52. Marriott International’s payout ratio is currently 26.01%.

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.