Nippon Life Global Investors Americas Inc. Cuts Position in Marriott International, Inc. (NASDAQ:MAR)

Nippon Life Global Investors Americas Inc. lowered its holdings in Marriott International, Inc. (NASDAQ:MAR) by 14.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 38,330 shares of the company’s stock after selling 6,320 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Marriott International were worth $10,692,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MAR. FMR LLC grew its holdings in Marriott International by 0.8% during the 4th quarter. FMR LLC now owns 6,973,897 shares of the company’s stock valued at $1,945,299,000 after purchasing an additional 56,978 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Marriott International by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 5,026,529 shares of the company’s stock valued at $1,398,321,000 after acquiring an additional 60,458 shares in the last quarter. Capital International Investors lifted its stake in shares of Marriott International by 0.3% in the fourth quarter. Capital International Investors now owns 4,720,306 shares of the company’s stock worth $1,316,682,000 after acquiring an additional 15,923 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Marriott International by 50.8% in the fourth quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company’s stock valued at $1,300,168,000 after purchasing an additional 1,570,144 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Marriott International by 17.4% during the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company’s stock valued at $967,662,000 after purchasing an additional 512,963 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Evercore ISI upgraded Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 target price for the company in a research note on Tuesday, February 4th. Mizuho boosted their target price on shares of Marriott International from $246.00 to $293.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Susquehanna lifted their price target on Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Argus upped their price objective on Marriott International from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Truist Financial decreased their target price on Marriott International from $308.00 to $300.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $277.00.

Insider Activity

In other news, EVP Rena Hozore Reiss sold 3,500 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the completion of the sale, the executive vice president now owns 24,733 shares in the company, valued at approximately $7,089,714.45. This represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 1,054 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $277.48, for a total value of $292,463.92. Following the sale, the director now directly owns 4,551 shares in the company, valued at $1,262,811.48. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,694 shares of company stock worth $8,938,132 over the last 90 days. 10.68% of the stock is currently owned by company insiders.

Marriott International Stock Performance

Shares of MAR stock opened at $215.69 on Tuesday. The firm has a market capitalization of $59.52 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 3.42 and a beta of 1.42. Marriott International, Inc. has a 1 year low of $204.55 and a 1 year high of $307.52. The stock has a fifty day moving average of $248.58 and a two-hundred day moving average of $268.24.

Marriott International (NASDAQ:MAR) last announced its earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. Equities research analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, February 27th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 27th. Marriott International’s dividend payout ratio (DPR) is presently 30.29%.

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.