State Street Corp Reduces Stock Position in Marriott International, Inc. (NASDAQ:MAR)

State Street Corp reduced its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,306,642 shares of the company’s stock after selling 280,077 shares during the quarter. State Street Corp owned about 3.35% of Marriott International worth $2,313,631,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bangor Savings Bank lifted its stake in shares of Marriott International by 131.1% during the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock valued at $25,000 after buying an additional 59 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in Marriott International in the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in Marriott International in the 2nd quarter worth approximately $28,000. Silvant Capital Management LLC purchased a new stake in Marriott International in the 3rd quarter worth approximately $31,000. Finally, Darwin Wealth Management LLC purchased a new stake in Marriott International in the 3rd quarter worth approximately $33,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marriott International

In related news, EVP Benjamin T. Breland sold 500 shares of Marriott International stock in a transaction dated Wednesday, November 6th. The shares were 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 of the company’s stock, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William P. Brown sold 1,707 shares of Marriott International stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $284.30, for a total transaction of $485,300.10. Following the transaction, the insider now directly owns 23,077 shares of the company’s stock, valued at approximately $6,560,791.10. This trade represents a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,815 shares of company stock valued at $3,919,739. Company insiders own 12.32% of the company’s stock.

Analysts Set New Price Targets

MAR has been the topic of several recent analyst reports. Truist Financial increased their target price on shares of Marriott International from $254.00 to $277.00 and gave the stock a “hold” rating in a research note on Wednesday. The Goldman Sachs Group initiated coverage on shares of Marriott International in a research note on Wednesday, September 18th. They issued a “buy” rating and a $267.00 target price on the stock. Barclays increased their target price on shares of Marriott International from $240.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Evercore ISI increased their price target on shares of Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company increased their price target on shares of Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Marriott International currently has a consensus rating of “Hold” and an average target price of $261.35.

Marriott International Stock Up 1.0 %

Shares of Marriott International stock opened at $292.48 on Friday. The firm has a market cap of $81.28 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 5.61 and a beta of 1.58. Marriott International, Inc. has a 12-month low of $204.30 and a 12-month high of $294.65. The company’s fifty day simple moving average is $270.06 and its two-hundred day simple moving average is $246.49.

Marriott International (NASDAQ:MAR) last announced its quarterly 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). The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. Marriott International’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $2.11 EPS. As a group, sell-side analysts expect that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 0.86%. Marriott International’s dividend payout ratio is 26.36%.

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.