InTrack Investment Management Inc Reduces Holdings in Marriott International, Inc. (NASDAQ:MAR)

InTrack Investment Management Inc trimmed its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 19.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,035 shares of the company’s stock after selling 242 shares during the quarter. InTrack Investment Management Inc’s holdings in Marriott International were worth $257,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MAR. Global Assets Advisory LLC purchased a new stake in shares of Marriott International during the first quarter valued at $153,697,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Marriott International by 36,856.7% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock valued at $58,346,000 after purchasing an additional 240,674 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Marriott International by 1.8% during the first quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after purchasing an additional 192,652 shares during the period. Capital International Investors boosted its stake in shares of Marriott International by 4.7% during the first quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after purchasing an additional 149,378 shares during the period. Finally, AXA S.A. lifted its stake in Marriott International by 133.4% in the second quarter. AXA S.A. now owns 221,045 shares of the company’s stock worth $53,442,000 after acquiring an additional 126,323 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Stock Up 0.8 %

MAR opened at $262.63 on Friday. Marriott International, Inc. has a 52-week low of $180.75 and a 52-week high of $264.14. The company has a market cap of $73.94 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 6.15 and a beta of 1.59. The firm’s 50-day moving average price is $234.15 and its 200-day moving average price is $238.01.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The company had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the prior year, the company earned $2.26 EPS. Marriott International’s quarterly revenue was up 6.0% on a year-over-year basis. On average, research analysts anticipate that Marriott International, Inc. will post 9.37 EPS for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 16th were issued a $0.63 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 0.96%. Marriott International’s dividend payout ratio (DPR) is presently 25.20%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Marriott International in a research note on Wednesday, September 18th. They issued a “buy” rating and a $267.00 price objective for the company. UBS Group lowered their price objective on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Robert W. Baird lowered their price objective on shares of Marriott International from $252.00 to $245.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Sanford C. Bernstein raised shares of Marriott International from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $247.00 to $262.00 in a research note on Thursday, August 29th. Finally, Truist Financial reduced their target price on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Twelve research 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $248.65.

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, City Express by Marriott, and St.