Bank of New York Mellon Corp Sells 80,329 Shares of Marriott International, Inc. $MAR

Bank of New York Mellon Corp cut its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 4.9% during the 2nd quarter, Holdings Channel reports. The fund owned 1,555,634 shares of the company’s stock after selling 80,329 shares during the period. Bank of New York Mellon Corp’s holdings in Marriott International were worth $425,015,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new position in shares of Marriott International in the second quarter valued at $613,000. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Marriott International by 9.5% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 62,995 shares of the company’s stock valued at $15,005,000 after buying an additional 5,482 shares in the last quarter. Permanens Capital L.P. lifted its stake in shares of Marriott International by 15.6% in the first quarter. Permanens Capital L.P. now owns 15,396 shares of the company’s stock valued at $3,667,000 after buying an additional 2,076 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Marriott International by 3.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 219,939 shares of the company’s stock valued at $52,389,000 after purchasing an additional 8,149 shares in the last quarter. Finally, Swedbank AB lifted its position in shares of Marriott International by 1.3% during the first quarter. Swedbank AB now owns 68,429 shares of the company’s stock valued at $16,300,000 after purchasing an additional 881 shares in the last quarter. 70.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on MAR shares. Morgan Stanley dropped their price target on shares of Marriott International from $302.00 to $296.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. BMO Capital Markets dropped their price target on shares of Marriott International from $285.00 to $280.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Marriott International in a research report on Wednesday, October 8th. Barclays dropped their price target on shares of Marriott International from $276.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Friday, October 3rd. Finally, Robert W. Baird dropped their price target on shares of Marriott International from $287.00 to $285.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Marriott International currently has a consensus rating of “Moderate Buy” and an average price target of $283.17.

Marriott International Stock Performance

MAR stock opened at $263.89 on Tuesday. The company has a market capitalization of $71.64 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.69 and a beta of 1.36. Marriott International, Inc. has a fifty-two week low of $205.40 and a fifty-two week high of $307.52. The stock has a fifty day moving average of $265.56 and a 200-day moving average of $263.96.

Marriott International (NASDAQ:MAR) last posted its earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, hitting the consensus estimate of $2.65. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.66 billion. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $2.50 earnings per share. Equities analysts predict that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, August 21st were paid a $0.67 dividend. The ex-dividend date was Thursday, August 21st. This represents a $2.68 annualized dividend and a dividend yield of 1.0%. Marriott International’s dividend payout ratio (DPR) is presently 30.21%.

Marriott International declared that its board has authorized a stock repurchase program on Thursday, August 7th that allows the company to repurchase 25,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.