Chevy Chase Trust Holdings LLC Reduces Position in Marriott International, Inc. (NASDAQ:MAR)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 0.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,305 shares of the company’s stock after selling 267 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Marriott International worth $36,662,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MAR. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Marriott International by 1.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 30,612 shares of the company’s stock valued at $6,017,000 after purchasing an additional 544 shares during the period. Braun Stacey Associates Inc. raised its stake in Marriott International by 4.2% in the third quarter. Braun Stacey Associates Inc. now owns 119,154 shares of the company’s stock worth $23,421,000 after buying an additional 4,826 shares in the last quarter. Invst LLC raised its stake in Marriott International by 3.5% in the third quarter. Invst LLC now owns 8,889 shares of the company’s stock worth $1,747,000 after buying an additional 298 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Marriott International by 8.7% in the third quarter. Public Sector Pension Investment Board now owns 26,836 shares of the company’s stock worth $5,275,000 after buying an additional 2,145 shares in the last quarter. Finally, Polar Capital Holdings Plc bought a new position in Marriott International in the third quarter worth approximately $7,874,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Price Performance

Shares of NASDAQ:MAR traded up $4.58 during mid-day trading on Wednesday, reaching $242.10. 561,269 shares of the company were exchanged, compared to its average volume of 1,444,508. Marriott International, Inc. has a 1 year low of $180.75 and a 1 year high of $260.57. The firm’s 50-day simple moving average is $237.36 and its 200 day simple moving average is $240.26. The firm has a market cap of $69.15 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 4.52 and a beta of 1.60.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The firm had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.95 billion. During the same quarter in the previous year, the business posted $2.09 earnings per share. Marriott International’s revenue for the quarter was up 6.4% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 24th were paid a dividend of $0.63 per share. This is a positive change from Marriott International’s previous quarterly dividend of $0.52. This represents a $2.52 annualized dividend and a yield of 1.04%. The ex-dividend date was Thursday, May 23rd. Marriott International’s dividend payout ratio (DPR) is currently 26.01%.

Analyst Upgrades and Downgrades

MAR has been the topic of a number of recent analyst reports. Barclays upped their price target on Marriott International from $239.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Friday, April 19th. Robert W. Baird upped their price target on shares of Marriott International from $248.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Mizuho increased their target price on shares of Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Susquehanna assumed coverage on shares of Marriott International in a research note on Friday, June 21st. They set a “neutral” rating and a $255.00 target price on the stock. Finally, BMO Capital Markets increased their target price on shares of Marriott International from $235.00 to $240.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Marriott International presently has a consensus rating of “Hold” and a consensus target price of $242.19.

About Marriott International

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.