Allspring Global Investments Holdings LLC Has $3.59 Million Stake in Marriott International, Inc. (NASDAQ:MAR)

Allspring Global Investments Holdings LLC trimmed its position in Marriott International, Inc. (NASDAQ:MAR) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,088 shares of the company’s stock after selling 1,755 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Marriott International were worth $3,592,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sound Income Strategies LLC raised its stake in Marriott International by 494.4% during the fourth quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock worth $30,000 after acquiring an additional 89 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new position in Marriott International during the fourth quarter worth $33,000. Silvant Capital Management LLC acquired a new position in Marriott International during the third quarter worth $31,000. Darwin Wealth Management LLC acquired a new stake in shares of Marriott International in the third quarter valued at $33,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Marriott International in the fourth quarter valued at $38,000. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MAR. Stifel Nicolaus raised their target price on Marriott International from $252.00 to $283.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. Robert W. Baird raised their target price on Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Barclays lowered their target price on Marriott International from $287.00 to $283.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised their target price on Marriott International from $251.00 to $269.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, The Goldman Sachs Group raised their price target on Marriott International from $280.00 to $314.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $284.05.

Marriott International Stock Performance

Shares of Marriott International stock opened at $287.20 on Friday. The business’s 50 day simple moving average is $283.92 and its 200 day simple moving average is $264.29. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52. The firm has a market cap of $79.18 billion, a PE ratio of 34.52, a P/E/G ratio of 3.43 and a beta of 1.57.

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

Marriott International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, February 27th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International’s dividend payout ratio (DPR) is 30.29%.

About Marriott International

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.