M&T Bank Corp Trims Holdings in Marriott International, Inc. (NASDAQ:MAR)

M&T Bank Corp lessened its position in Marriott International, Inc. (NASDAQ:MAR) by 7.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,062 shares of the company’s stock after selling 4,216 shares during the period. M&T Bank Corp’s holdings in Marriott International were worth $12,446,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MAR. &PARTNERS acquired a new position in Marriott International in the second quarter valued at $464,000. Raymond James Trust N.A. grew its holdings in Marriott International by 10.3% in the second quarter. Raymond James Trust N.A. now owns 7,471 shares of the company’s stock valued at $1,806,000 after purchasing an additional 698 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in Marriott International during the second quarter worth approximately $722,000. Atomi Financial Group Inc. boosted its holdings in shares of Marriott International by 14.0% in the 2nd quarter. Atomi Financial Group Inc. now owns 2,166 shares of the company’s stock valued at $524,000 after purchasing an additional 266 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in Marriott International by 2.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,033 shares of the company’s stock valued at $733,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Trading Up 1.8 %

Shares of NASDAQ MAR opened at $283.96 on Friday. The company has a market cap of $78.91 billion, a price-to-earnings ratio of 29.70, a price-to-earnings-growth ratio of 5.56 and a beta of 1.58. The stock’s 50 day simple moving average is $277.24 and its 200 day simple moving average is $250.70. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $295.45.

Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same period in the previous year, the firm earned $2.11 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.89%. Marriott International’s dividend payout ratio is presently 26.36%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Bank of America boosted their target price on Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Sanford C. Bernstein raised their target price on shares of Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Robert W. Baird raised their price objective on Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Evercore ISI increased their target price on Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Finally, Barclays upped their price target on Marriott International from $249.00 to $286.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $266.25.

Insiders Place Their Bets

In other Marriott International news, insider William P. Brown sold 1,707 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $284.30, for a total value of $485,300.10. Following the sale, the insider now directly owns 23,077 shares in the company, valued at approximately $6,560,791.10. The trade was a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Benjamin T. Breland sold 500 shares of Marriott International stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the completion of the transaction, the executive vice president now directly owns 12,286 shares in the company, valued at $3,372,384.14. This represents a 3.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,815 shares of company stock worth $3,919,739 over the last ninety days. Company insiders own 12.32% of the company’s stock.

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, City Express by Marriott, and St.