Sumitomo Mitsui Trust Group Inc. Buys 2,723 Shares of Marriott International, Inc. (NASDAQ:MAR)

Sumitomo Mitsui Trust Group Inc. raised its stake in Marriott International, Inc. (NASDAQ:MAR) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 566,548 shares of the company’s stock after acquiring an additional 2,723 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.20% of Marriott International worth $140,844,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Bangor Savings Bank raised its holdings in Marriott International by 131.1% in the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after buying an additional 59 shares during the last quarter. Hantz Financial Services Inc. bought a new position in Marriott International in the 2nd quarter valued at approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in Marriott International during the 2nd quarter valued at $28,000. Silvant Capital Management LLC purchased a new position in shares of Marriott International in the third quarter worth $31,000. Finally, Unique Wealth Strategies LLC bought a new position in shares of Marriott International during the second quarter valued at $35,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Analyst Upgrades and Downgrades

MAR has been the subject of a number of recent analyst reports. TD Cowen decreased their target price on Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Mizuho raised their target price on shares of Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Truist Financial lowered their price target on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Bank of America upped their price objective on Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, BMO Capital Markets boosted their price target on Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $259.00.

Marriott International Stock Up 0.0 %

NASDAQ:MAR opened at $286.02 on Wednesday. The stock has a market cap of $79.48 billion, a PE ratio of 29.92, a P/E/G ratio of 6.27 and a beta of 1.58. The business’s 50-day simple moving average is $252.26 and its two-hundred day simple moving average is $240.54. Marriott International, Inc. has a 52 week low of $196.24 and a 52 week high of $287.00.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.11 earnings per share. Sell-side analysts anticipate that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International’s dividend payout ratio (DPR) is presently 26.36%.

Insider Activity

In related news, CAO Felitia Lee sold 916 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the transaction, the chief accounting officer now directly owns 5,609 shares of the company’s stock, valued at approximately $1,550,776.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the completion of the transaction, the executive vice president now owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Felitia Lee sold 916 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total value of $253,255.68. Following the sale, the chief accounting officer now owns 5,609 shares in the company, valued at approximately $1,550,776.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.07% of the company’s stock.

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.