Argent Trust Co Sells 62 Shares of Marriott International, Inc. (NASDAQ:MAR)

Argent Trust Co lowered its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,085 shares of the company’s stock after selling 62 shares during the quarter. Argent Trust Co’s holdings in Marriott International were worth $746,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Marriott International by 1.8% during the 1st quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock worth $2,678,750,000 after purchasing an additional 192,652 shares during the last quarter. Capital International Investors increased its holdings in Marriott International by 4.7% during the first quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock worth $831,836,000 after buying an additional 149,378 shares during the last quarter. Parnassus Investments LLC lifted its stake in 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 acquiring an additional 7,135 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Marriott International by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 679,757 shares of the company’s stock valued at $164,355,000 after acquiring an additional 33,149 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Marriott International by 4.7% in the 4th quarter. Wells Fargo & Company MN now owns 660,831 shares of the company’s stock valued at $149,024,000 after purchasing an additional 29,785 shares during the period. 70.70% of the stock is owned by institutional investors.

Marriott International Stock Performance

Shares of NASDAQ MAR opened at $244.46 on Friday. Marriott International, Inc. has a 52 week low of $180.75 and a 52 week high of $260.57. The stock’s fifty day moving average is $229.76 and its 200 day moving average is $237.90. The stock has a market capitalization of $69.82 billion, a P/E ratio of 25.23, a PEG ratio of 5.34 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.49 by $0.01. The company had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.26 EPS. Equities research analysts forecast that Marriott International, Inc. will post 9.37 earnings per share for the current year.

Marriott International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 1.03%. Marriott International’s dividend payout ratio is currently 26.01%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MAR shares. UBS Group dropped their price objective on Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Truist Financial cut their price target on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Susquehanna assumed coverage on shares of Marriott International in a report on Friday, June 21st. They issued a “neutral” rating and a $255.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Finally, Morgan Stanley lowered their price target on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $247.33.

About Marriott International

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.