Fiduciary Group LLC Cuts Stake in Marriott International, Inc. (NASDAQ:MAR)

Fiduciary Group LLC reduced its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 3.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,446 shares of the company’s stock after selling 556 shares during the period. Fiduciary Group LLC’s holdings in Marriott International were worth $3,976,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC raised its position in shares of Marriott International by 14.6% in the second quarter. HBK Sorce Advisory LLC now owns 3,810 shares of the company’s stock valued at $921,000 after buying an additional 485 shares during the last quarter. TradeLink Capital LLC acquired a new stake in Marriott International in the 2nd quarter valued at about $242,000. Meeder Advisory Services Inc. boosted its holdings in shares of Marriott International by 26.9% during the 2nd quarter. Meeder Advisory Services Inc. now owns 6,106 shares of the company’s stock worth $1,476,000 after purchasing an additional 1,296 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Marriott International by 1.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 81,220 shares of the company’s stock valued at $19,634,000 after purchasing an additional 1,121 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its position in Marriott International by 83.8% during the second quarter. Meeder Asset Management Inc. now owns 239 shares of the company’s stock worth $58,000 after buying an additional 109 shares in the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.

Marriott International Stock Performance

Shares of MAR opened at $231.74 on Friday. The stock has a market capitalization of $65.24 billion, a PE ratio of 23.92, a P/E/G ratio of 5.34 and a beta of 1.59. The company’s 50-day simple moving average is $229.93 and its 200-day simple moving average is $238.22. Marriott International, Inc. has a 1 year low of $180.75 and a 1 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, beating the consensus estimate of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The firm had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter last year, the company earned $2.26 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that Marriott International, Inc. will post 9.37 earnings per share for the current year.

Marriott International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, August 16th. Marriott International’s dividend payout ratio (DPR) is 26.01%.

Analysts Set New Price Targets

A number of analysts have issued reports on MAR shares. Robert W. Baird cut their target price on Marriott International from $252.00 to $245.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. UBS Group cut their price target on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Sanford C. Bernstein upgraded Marriott International from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $247.00 to $262.00 in a report on Thursday, August 29th. Finally, Truist Financial cut their target price on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $246.18.

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.