Marriott International, Inc. (NASDAQ:MAR) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in Marriott International, Inc. (NASDAQ:MAR) by 1.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,843 shares of the company’s stock after acquiring an additional 274 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Marriott International were worth $3,690,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Marriott International by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after acquiring an additional 192,652 shares in the last quarter. Capital International Investors grew its position 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 worth $831,836,000 after acquiring an additional 149,378 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Marriott International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 679,757 shares of the company’s stock worth $164,355,000 after acquiring an additional 33,149 shares during the last quarter. First Pacific Advisors LP grew its position in shares of Marriott International by 2.1% during the second quarter. First Pacific Advisors LP now owns 613,205 shares of the company’s stock worth $148,255,000 after acquiring an additional 12,499 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its position in Marriott International by 3.1% in the 1st quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 325,617 shares of the company’s stock valued at $82,156,000 after buying an additional 9,813 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MAR shares. Evercore ISI increased their target price on shares of Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Bank of America raised their price objective on shares of Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Macquarie restated a “neutral” rating and set a $245.00 price objective on shares of Marriott International in a research report on Friday, August 2nd. Truist Financial reduced their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company upped their price objective on shares of Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Thirteen 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 company currently has an average rating of “Hold” and a consensus target price of $256.39.

Marriott International Stock Performance

Shares of MAR stock opened at $262.55 on Tuesday. The stock’s fifty day moving average is $244.10 and its 200-day moving average is $238.67. The stock has a market capitalization of $74.99 billion, a PE ratio of 27.09, a PEG ratio of 6.36 and a beta of 1.59. Marriott International, Inc. has a 52 week low of $180.75 and a 52 week high of $266.58.

Marriott International (NASDAQ:MAR) last posted 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 for the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter last year, the business earned $2.26 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts forecast that Marriott International, Inc. will post 9.37 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 16th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.96%. The ex-dividend date was Friday, August 16th. Marriott International’s payout ratio is 26.01%.

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.