Sumitomo Mitsui Trust Holdings Inc. Trims Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 615,758 shares of the company’s stock after selling 12,172 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.21% of Marriott International worth $155,362,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Morgan Stanley boosted its position in Marriott International by 1.4% during the 3rd quarter. Morgan Stanley now owns 4,711,029 shares of the company’s stock valued at $926,000,000 after acquiring an additional 63,411 shares in the last quarter. Jennison Associates LLC lifted its position in Marriott International by 34.8% during the fourth quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock valued at $1,025,416,000 after acquiring an additional 1,173,028 shares during the last quarter. Capital International Investors increased its position in Marriott International by 42.2% during the 4th quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock valued at $709,793,000 after buying an additional 934,304 shares in the last quarter. Parnassus Investments LLC boosted its stake in 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 in the last quarter. Finally, Norges Bank acquired a new position in Marriott International during the 4th quarter valued at approximately $461,525,000. 70.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MAR has been the subject of a number of research reports. Barclays lifted their target price on Marriott International from $239.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, April 19th. Argus increased their price objective on shares of Marriott International from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Wells Fargo & Company decreased their target price on shares of Marriott International from $250.00 to $248.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Robert W. Baird increased their price target on Marriott International from $248.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Mizuho boosted their price objective on Marriott International from $260.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $242.19.

Marriott International Price Performance

Shares of NASDAQ:MAR traded up $0.87 during mid-day trading on Wednesday, reaching $240.85. 224,780 shares of the company were exchanged, compared to its average volume of 1,455,751. The firm’s 50-day simple moving average is $237.46 and its 200 day simple moving average is $239.60. Marriott International, Inc. has a 1 year low of $178.24 and a 1 year high of $260.57. The firm has a market cap of $68.79 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 4.55 and a beta of 1.60.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.95 billion. Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 EPS. On average, research analysts forecast that Marriott International, Inc. will post 9.55 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 24th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, May 23rd. This is an increase from Marriott International’s previous quarterly dividend of $0.52. 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.