Ascent Group LLC Sells 299 Shares of Marriott International, Inc. (NASDAQ:MAR)

Ascent Group LLC trimmed its holdings in Marriott International, Inc. (NASDAQ:MAR) by 10.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,675 shares of the company’s stock after selling 299 shares during the quarter. Ascent Group LLC’s holdings in Marriott International were worth $647,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MAR. TFO Wealth Partners LLC boosted its position in shares of Marriott International by 32,350.0% in the fourth quarter. TFO Wealth Partners LLC now owns 649 shares of the company’s stock valued at $146,000 after acquiring an additional 647 shares during the period. Bank of Nova Scotia lifted its position in Marriott International by 34.6% in the fourth quarter. Bank of Nova Scotia now owns 31,197 shares of the company’s stock worth $7,035,000 after purchasing an additional 8,022 shares during the period. Rathbones Group PLC bought a new position in Marriott International in the fourth quarter worth $214,000. Rafferty Asset Management LLC lifted its position in Marriott International by 10.1% in the fourth quarter. Rafferty Asset Management LLC now owns 71,945 shares of the company’s stock worth $16,224,000 after purchasing an additional 6,601 shares during the period. Finally, Carmignac Gestion lifted its position in Marriott International by 5.6% in the fourth quarter. Carmignac Gestion now owns 15,850 shares of the company’s stock worth $3,574,000 after purchasing an additional 836 shares during the period. 70.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MAR has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Robert W. Baird dropped their price objective on Marriott International from $252.00 to $245.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Wells Fargo & Company dropped their price objective on Marriott International from $248.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Truist Financial dropped their price objective 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. Finally, Susquehanna initiated coverage on Marriott International in a research note on Friday, June 21st. They set a “neutral” rating and a $255.00 price objective for the company. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $248.65.

Marriott International Trading Down 1.8 %

Shares of NASDAQ:MAR opened at $248.60 on Tuesday. The stock has a market capitalization of $71.01 billion, a P/E ratio of 25.66, a P/E/G ratio of 5.68 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. The business has a 50-day moving average price of $229.93 and a two-hundred day moving average price of $237.68.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data 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. The firm had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.26 EPS. As a group, equities analysts predict that Marriott International, Inc. will post 9.37 EPS for the current year.

Marriott International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.63 per share. The ex-dividend date was Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 1.01%. Marriott International’s payout ratio is currently 26.01%.

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.