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

Allspring Global Investments Holdings LLC increased its position in Marriott International, Inc. (NASDAQ:MAR) by 3.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,627 shares of the company’s stock after acquiring an additional 506 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Marriott International were worth $3,691,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Marriott International in the 4th quarter valued at approximately $461,525,000. Jennison Associates LLC raised its holdings 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 purchasing an additional 1,173,028 shares in the last quarter. Capital International Investors lifted its stake in shares of Marriott International by 42.2% in the 4th quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock valued at $709,793,000 after purchasing an additional 934,304 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Marriott International in the first quarter worth about $153,697,000. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of Marriott International by 557.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 496,505 shares of the company’s stock worth $111,967,000 after acquiring an additional 420,962 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Marriott International from $250.00 to $248.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Argus upped 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. Barclays lifted their price objective on Marriott International from $239.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, April 19th. BMO Capital Markets increased their target price on Marriott International from $235.00 to $240.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. Finally, Mizuho lifted their price target on Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $242.19.

Marriott International Price Performance

MAR traded down $2.30 during trading on Tuesday, reaching $237.21. The company had a trading volume of 174,741 shares, compared to its average volume of 1,455,659. The business’s fifty day moving average price is $237.41 and its 200 day moving average price is $239.33. Marriott International, Inc. has a 12 month low of $178.24 and a 12 month high of $260.57. The company has a market cap of $67.75 billion, a P/E ratio of 24.72, a PEG ratio of 4.55 and a beta of 1.60.

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

Marriott International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 24th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Marriott International’s previous quarterly dividend of $0.52. Marriott International’s dividend payout ratio is currently 26.01%.

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