Marriott International, Inc. (NASDAQ:MAR) Stake Reduced by Sumitomo Mitsui Trust Holdings Inc.

Posted by Defense World Staff on Apr 13th, 2023

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Marriott International, Inc. (NASDAQ:MAR – Get Rating) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 792,591 shares of the company’s stock after selling 8,717 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of Marriott International worth $118,009,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MAR. Advisors Asset Management Inc. grew its stake in shares of Marriott International by 28.2% in the third quarter. Advisors Asset Management Inc. now owns 20,131 shares of the company’s stock worth $2,821,000 after purchasing an additional 4,427 shares in the last quarter. Calamos Wealth Management LLC bought a new position in shares of Marriott International in the third quarter worth $874,000. Alta Advisers Ltd bought a new position in shares of Marriott International in the third quarter worth $112,000. ExodusPoint Capital Management LP grew its stake in shares of Marriott International by 138.4% in the second quarter. ExodusPoint Capital Management LP now owns 61,975 shares of the company’s stock worth $8,429,000 after purchasing an additional 35,975 shares in the last quarter. Finally, WCG Wealth Advisors LLC bought a new position in shares of Marriott International in the second quarter worth $333,000. 58.97% of the stock is currently owned by institutional investors.

Marriott International Trading Down 1.5 %

Shares of NASDAQ MAR opened at $161.47 on Thursday. Marriott International, Inc. has a 12 month low of $131.01 and a 12 month high of $195.90. The company has a market cap of $49.75 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 0.70 and a beta of 1.57. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 16.51. The business has a fifty day simple moving average of $167.80 and a 200-day simple moving average of $159.62.

Marriott International (NASDAQ:MAR – Get Rating) last posted its quarterly earnings results on Tuesday, February 14th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.38 billion. Marriott International had a return on equity of 168.43% and a net margin of 11.35%. Marriott International’s quarterly revenue was up 33.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 earnings per share. Sell-side analysts predict that Marriott International, Inc. will post 7.75 EPS for the current year.

Marriott International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, February 24th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.99%. This is a positive change from Marriott International’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, February 23rd. Marriott International’s payout ratio is presently 22.04%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MAR shares. Truist Financial increased their price target on Marriott International from $185.00 to $205.00 and gave the stock a “hold” rating in a research note on Thursday, February 16th. Morgan Stanley upped their price objective on Marriott International from $193.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. BMO Capital Markets upped their price objective on Marriott International from $163.00 to $183.00 and gave the company a “market perform” rating in a report on Wednesday, February 15th. Robert W. Baird upped their price objective on Marriott International from $183.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, February 27th. Finally, Credit Suisse Group upped their price objective on Marriott International from $185.00 to $205.00 and gave the company a “hold” rating in a report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $179.53.

Insider Activity at Marriott International

In other Marriott International news, EVP Benjamin T. Breland sold 625 shares of the company’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $163.06, for a total value of $101,912.50. Following the transaction, the executive vice president now directly owns 9,079 shares of the company’s stock, valued at approximately $1,480,421.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Marriott International news, CFO Kathleen K. Oberg sold 5,765 shares of the company’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $179.18, for a total value of $1,032,972.70. Following the transaction, the chief financial officer now directly owns 20,630 shares of the company’s stock, valued at approximately $3,696,483.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Benjamin T. Breland sold 625 shares of the stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $163.06, for a total value of $101,912.50. Following the transaction, the executive vice president now directly owns 9,079 shares in the company, valued at approximately $1,480,421.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,711 shares of company stock valued at $3,962,349. Company insiders own 12.32% of the company’s stock.

About Marriott International

(Get Rating)

Marriott International, Inc engages in the operation and franchise of hotel, residential, and timeshare properties. It operates through the following geography segments: U.S. & Canada, Asia Pacific, and Europe, Middle East and Africa (EMEA). The company was founded by J. Willard Marriott and Alice Sheets Marriott in 1927 and is headquartered in Bethesda, MD.