iA Global Asset Management Inc. Reduces Stake in Marriott International, Inc. (NASDAQ:MAR)

iA Global Asset Management Inc. lessened its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,104 shares of the company’s stock after selling 1,349 shares during the quarter. iA Global Asset Management Inc.’s holdings in Marriott International were worth $8,605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Marriott International in the 4th quarter worth about $461,525,000. Jennison Associates LLC raised its holdings in Marriott International by 34.8% in the fourth quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock worth $1,025,416,000 after buying an additional 1,173,028 shares during the last quarter. Capital International Investors grew its holdings in shares of Marriott International by 42.2% during 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. Global Assets Advisory LLC bought a new stake in shares of Marriott International during the first quarter valued at approximately $153,697,000. Finally, Public Employees Retirement Association of Colorado raised its holdings in Marriott International by 557.2% in 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 during the last quarter. 70.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays lifted their target price on Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft decreased their target price on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday. Mizuho raised their price target on shares of Marriott International from $260.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Robert W. Baird decreased their price objective on shares of Marriott International from $252.00 to $245.00 and set a “neutral” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on shares of Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Marriott International presently has a consensus rating of “Hold” and an average price target of $241.22.

Marriott International Trading Down 3.7 %

NASDAQ MAR traded down $8.52 on Thursday, reaching $218.78. 3,027,585 shares of the stock were exchanged, compared to its average volume of 1,476,986. The company’s 50-day simple moving average is $238.69 and its two-hundred day simple moving average is $242.04. The firm has a market capitalization of $62.49 billion, a PE ratio of 22.27, a PEG ratio of 4.49 and a beta of 1.60. Marriott International, Inc. has a one year low of $180.75 and a one year high of $260.57.

Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.01. Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The company had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the prior year, the firm posted $2.26 EPS. Marriott International’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts forecast that Marriott International, Inc. will post 9.56 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 24th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.15%. This is an increase from Marriott International’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, May 23rd. Marriott International’s dividend payout ratio is presently 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.