Contravisory Investment Management Inc. Trims Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Contravisory Investment Management Inc. lessened its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,912 shares of the company’s stock after selling 106 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Marriott International were worth $735,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MAR. Morgan Stanley increased its position in shares of Marriott International by 1.4% during the third quarter. Morgan Stanley now owns 4,711,029 shares of the company’s stock worth $926,000,000 after acquiring an additional 63,411 shares during the period. Jennison Associates LLC boosted its stake in Marriott International by 34.8% in the fourth 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 in the last quarter. Capital International Investors raised its holdings in shares of Marriott International by 42.2% in the fourth quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock valued at $709,793,000 after buying an additional 934,304 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Marriott International by 0.5% in the third quarter. Northern Trust Corp now owns 2,461,649 shares of the company’s stock valued at $483,862,000 after buying an additional 12,901 shares during the last quarter. Finally, Parnassus Investments LLC raised its holdings in shares of Marriott International by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 2,457,382 shares of the company’s stock valued at $554,164,000 after buying an additional 7,135 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Mizuho increased their price target on shares of Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Susquehanna started coverage on shares of Marriott International in a research report on Friday. They set a “neutral” rating and a $255.00 target price on the stock. Robert W. Baird lifted their price target on shares of Marriott International from $248.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Argus lifted their price target on shares of Marriott International from $270.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Wells Fargo & Company cut their target price on shares of Marriott International from $250.00 to $248.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Marriott International presently has a consensus rating of “Hold” and a consensus target price of $242.19.

Marriott International Stock Performance

Shares of MAR stock traded down $0.45 during midday trading on Friday, reaching $243.53. 3,299,600 shares of the company were exchanged, compared to its average volume of 1,188,158. Marriott International, Inc. has a 12 month low of $170.03 and a 12 month high of $260.57. The company has a market cap of $69.56 billion, a P/E ratio of 25.13, a PEG ratio of 4.59 and a beta of 1.60. The company’s 50 day moving average price is $237.19 and its two-hundred day moving average price is $238.06.

Marriott International (NASDAQ:MAR) last released its earnings results on Wednesday, May 1st. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.95 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that Marriott International, Inc. will post 9.55 earnings per share for the current year.

Marriott International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 24th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This is an increase from Marriott International’s previous quarterly dividend of $0.52. This represents a $2.52 dividend on an annualized basis and a yield of 1.03%. Marriott International’s payout ratio is presently 26.01%.

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.