National Bank of Canada FI Reduces Holdings in Marriott International, Inc. (NASDAQ:MAR)

National Bank of Canada FI decreased its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 27.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 111,373 shares of the company’s stock after selling 41,544 shares during the period. National Bank of Canada FI’s holdings in Marriott International were worth $26,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Marriott International by 1.8% in the 1st quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock worth $2,678,750,000 after purchasing an additional 192,652 shares during the last quarter. Capital International Investors increased its position in shares of Marriott International by 4.7% in the 1st quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock worth $831,836,000 after purchasing an additional 149,378 shares during the last quarter. Parnassus Investments LLC increased its position in shares of Marriott International by 0.3% in the 4th 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. Norges Bank bought a new stake in shares of Marriott International in the 4th quarter worth about $461,525,000. Finally, Wells Fargo & Company MN increased its position in shares of Marriott International by 4.7% in the 4th quarter. Wells Fargo & Company MN now owns 660,831 shares of the company’s stock worth $149,024,000 after purchasing an additional 29,785 shares during the last quarter. Institutional investors own 70.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. 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 report on Thursday, August 1st. Macquarie reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Marriott International in a research report on Friday, August 2nd. Sanford C. Bernstein raised shares of Marriott International from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $247.00 to $262.00 in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. 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 research note on Tuesday, August 6th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Marriott International currently has a consensus rating of “Hold” and a consensus price target of $244.44.

Marriott International Price Performance

MAR stock opened at $227.60 on Friday. Marriott International, Inc. has a 52-week low of $180.75 and a 52-week high of $260.57. The company’s 50 day simple moving average is $231.07 and its 200-day simple moving average is $238.86. The firm has a market capitalization of $65.01 billion, a P/E ratio of 23.49, a P/E/G ratio of 5.51 and a beta of 1.59.

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 analysts’ consensus estimates of $2.49 by $0.01. The business had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.47 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.26 earnings per share. Sell-side analysts predict that Marriott International, Inc. will post 9.37 EPS for the current fiscal year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 1.11%. Marriott International’s dividend payout ratio is presently 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.