Nuveen Asset Management LLC Sells 39,595 Shares of Marriott International, Inc. (NASDAQ:MAR)

Nuveen Asset Management LLC cut its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 630,937 shares of the company’s stock after selling 39,595 shares during the period. Nuveen Asset Management LLC owned approximately 0.23% of Marriott International worth $175,994,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms have recently commented on MAR. Truist Financial dropped their price target on Marriott International from $308.00 to $300.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. UBS Group lifted their price target on shares of Marriott International from $294.00 to $301.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group restated a “neutral” rating and set a $245.00 price objective (down from $313.00) on shares of Marriott International in a report on Monday, April 14th. Argus upped their target price on shares of Marriott International from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, BMO Capital Markets lifted their price target on Marriott International from $250.00 to $265.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Thirteen analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.60.

Insider Buying and Selling at Marriott International

In other news, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction on Monday, May 12th. The stock was sold at an average price of $270.21, for a total transaction of $270,210.00. Following the completion of the sale, the executive vice president now owns 20,724 shares of the company’s stock, valued at approximately $5,599,832.04. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kathleen K. Oberg sold 14,498 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the completion of the transaction, the chief financial officer now owns 14,282 shares in the company, valued at $3,971,395.74. This trade represents a 50.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,694 shares of company stock valued at $9,208,342 in the last three months. 10.68% of the stock is currently owned by company insiders.

Marriott International Stock Performance

Marriott International stock opened at $271.47 on Friday. The stock has a 50-day simple moving average of $238.62 and a 200 day simple moving average of $266.67. The stock has a market capitalization of $74.35 billion, a P/E ratio of 32.63, a PEG ratio of 3.42 and a beta of 1.39. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $307.52.

Marriott International (NASDAQ:MAR) last posted its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.07. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period in the previous year, the firm earned $2.13 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. Research analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 23rd will be issued a dividend of $0.67 per share. This is an increase from Marriott International’s previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. This represents a $2.68 annualized dividend and a dividend yield of 0.99%. Marriott International’s payout ratio is presently 30.52%.

Marriott International 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.