Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 53.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 41,550 shares of the company’s stock after selling 47,201 shares during the quarter. Great Lakes Advisors LLC’s holdings in Marriott International were worth $10,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MAR. Cullen Frost Bankers Inc. boosted its stake in Marriott International by 55.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 42,086 shares of the company’s stock worth $10,175,000 after purchasing an additional 14,995 shares during the period. Patron Partners LLC boosted its position in shares of Marriott International by 3.5% in the second quarter. Patron Partners LLC now owns 3,004 shares of the company’s stock worth $726,000 after buying an additional 101 shares during the period. Lake Street Advisors Group LLC grew its holdings in shares of Marriott International by 19.1% during the second quarter. Lake Street Advisors Group LLC now owns 3,858 shares of the company’s stock valued at $933,000 after buying an additional 619 shares in the last quarter. Howard Capital Management Inc. lifted its stake in Marriott International by 3.4% in the 2nd quarter. Howard Capital Management Inc. now owns 9,974 shares of the company’s stock worth $2,411,000 after acquiring an additional 325 shares in the last quarter. Finally, Candriam S.C.A. boosted its position in Marriott International by 10.2% during the 2nd quarter. Candriam S.C.A. now owns 80,949 shares of the company’s stock worth $19,570,000 after acquiring an additional 7,491 shares during the period. Institutional investors and hedge funds own 70.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MAR. Robert W. Baird reduced their price target 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. UBS Group decreased their target price 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. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Morgan Stanley reduced their price objective on Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Truist Financial cut their price target on 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 analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $244.44.

Marriott International Trading Down 0.6 %

Shares of Marriott International stock opened at $227.60 on Friday. The firm has a fifty day simple moving average of $231.07 and a 200-day simple moving average of $238.84. The stock has a market capitalization of $65.01 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 5.51 and a beta of 1.59. Marriott International, Inc. has a 1-year low of $180.75 and a 1-year high of $260.57.

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 company had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.26 earnings per share. As a group, research analysts predict that Marriott International, Inc. will post 9.37 earnings per share for the current year.

Marriott International Dividend Announcement

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