Stock Yards Bank & Trust Co. Trims Position in Marriott International, Inc. (NASDAQ:MAR)

Stock Yards Bank & Trust Co. trimmed its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,970 shares of the company’s stock after selling 193 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Marriott International were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. FMR LLC lifted its position in Marriott International by 16.1% in the third quarter. FMR LLC now owns 8,634,610 shares of the company’s stock valued at $1,697,219,000 after purchasing an additional 1,194,665 shares during the period. Morgan Stanley boosted its position in shares of Marriott International by 1.4% during the 3rd quarter. Morgan Stanley now owns 4,711,029 shares of the company’s stock worth $926,000,000 after purchasing an additional 63,411 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Marriott International by 34.8% during the 4th quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock valued at $1,025,416,000 after acquiring an additional 1,173,028 shares during the period. Invesco Ltd. lifted its stake in Marriott International by 1.8% in the 3rd quarter. Invesco Ltd. now owns 2,734,680 shares of the company’s stock valued at $537,529,000 after buying an additional 48,872 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Marriott International by 0.5% in the 3rd quarter. Northern Trust Corp now owns 2,461,649 shares of the company’s stock valued at $483,862,000 after purchasing an additional 12,901 shares in the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MAR shares. Truist Financial lifted their price objective on Marriott International from $233.00 to $263.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Argus lifted their target price on Marriott International from $270.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Wells Fargo & Company raised their price objective on Marriott International from $234.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, March 18th. UBS Group raised their price target on shares of Marriott International from $210.00 to $259.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Finally, Barclays raised their target price on shares of Marriott International from $239.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Marriott International currently has an average rating of “Hold” and an average price target of $236.69.

Marriott International Stock Up 1.0 %

Shares of MAR stock opened at $239.69 on Wednesday. Marriott International, Inc. has a 52 week low of $162.77 and a 52 week high of $260.57. The company has a market cap of $69.26 billion, a P/E ratio of 23.52, a PEG ratio of 1.73 and a beta of 1.62. The business has a 50 day moving average of $248.18 and a two-hundred day moving average of $226.48.

Marriott International (NASDAQ:MAR) last announced its earnings results on Tuesday, February 13th. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $2.12 by $1.45. The firm had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $6.20 billion. Marriott International had a negative return on equity of 848.49% and a net margin of 13.00%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.96 EPS. Analysts expect that Marriott International, Inc. will post 9.46 EPS for the current fiscal year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, February 21st. Marriott International’s dividend payout ratio (DPR) is presently 20.41%.

Insider Buying and Selling

In related news, EVP Rena Hozore Reiss sold 3,563 shares of Marriott International stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $240.39, for a total transaction of $856,509.57. Following the transaction, the executive vice president now directly owns 36,778 shares of the company’s stock, valued at $8,841,063.42. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Rena Hozore Reiss sold 3,563 shares of Marriott International stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $240.39, for a total value of $856,509.57. Following the transaction, the executive vice president now directly owns 36,778 shares in the company, valued at approximately $8,841,063.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric Hippeau sold 2,600 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $237.40, for a total value of $617,240.00. Following the completion of the transaction, the director now owns 1,472 shares of the company’s stock, valued at approximately $349,452.80. The disclosure for this sale can be found here. Insiders have sold a total of 125,003 shares of company stock valued at $30,435,493 over the last quarter. Corporate insiders own 10.07% of the company’s stock.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.