Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 14.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,165 shares of the company’s stock after selling 1,923 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Marriott International were worth $2,660,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MAR. Norges Bank acquired a new position in shares of Marriott International during the fourth quarter worth about $580,922,000. Wellington Management Group LLP grew its position in Marriott International by 50.8% during the fourth 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. GAMMA Investing LLC grew its position in Marriott International by 23,923.3% during the first quarter. GAMMA Investing LLC now owns 731,989 shares of the company’s stock worth $174,360,000 after buying an additional 728,942 shares during the period. Invesco Ltd. grew its position 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 buying an additional 512,963 shares during the period. Finally, Northern Trust Corp grew its position in Marriott International by 16.3% during the fourth quarter. Northern Trust Corp now owns 2,333,994 shares of the company’s stock worth $651,044,000 after buying an additional 327,415 shares during the period. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MAR has been the topic of several recent analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $245.00 target price (down from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Melius Research upgraded shares of Marriott International to a “strong-buy” rating in a research report on Monday, April 21st. JPMorgan Chase & Co. initiated coverage on shares of Marriott International in a report on Monday, June 23rd. They issued a “neutral” rating and a $284.00 price target on the stock. Robert W. Baird upped their price target on shares of Marriott International from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, Truist Financial reduced their price target on shares of Marriott International from $300.00 to $273.00 and set a “hold” rating on the stock in a report on Friday, May 30th. Thirteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.90.

Insider Transactions at Marriott International

In other news, insider Rajeev Menon sold 2,500 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the sale, the insider owned 5,706 shares of the company’s stock, valued at $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Benjamin T. Breland sold 1,000 shares of the 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 directly owned 20,724 shares of the company’s stock, valued at $5,599,832.04. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,107,710 over the last 90 days. Corporate insiders own 10.68% of the company’s stock.

Marriott International Stock Performance

Shares of MAR stock opened at $280.08 on Monday. Marriott International, Inc. has a one year low of $204.55 and a one year high of $307.52. The company has a 50 day moving average price of $262.62 and a 200 day moving average price of $262.50. The firm has a market capitalization of $76.71 billion, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 3.45 and a beta of 1.41.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.25 by $0.07. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the prior year, the business posted $2.13 earnings per share. Marriott International’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 23rd were given a $0.67 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.68 annualized dividend and a dividend yield of 0.96%. This is a positive change from Marriott International’s previous quarterly dividend of $0.63. Marriott International’s dividend payout ratio is presently 30.52%.

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.