Meiji Yasuda Asset Management Co Ltd. Reduces Holdings in Marriott International, Inc. (NASDAQ:MAR)

Meiji Yasuda Asset Management Co Ltd. lowered its stake in Marriott International, Inc. (NASDAQ:MAR) by 3.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,430 shares of the company’s stock after selling 110 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Marriott International were worth $829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Rockland Trust Co. raised its position in Marriott International by 2.3% during the 2nd quarter. Rockland Trust Co. now owns 1,802 shares of the company’s stock valued at $436,000 after purchasing an additional 41 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in Marriott International by 1.2% in the first quarter. Moody National Bank Trust Division now owns 3,673 shares of the company’s stock valued at $927,000 after acquiring an additional 42 shares in the last quarter. Kathmere Capital Management LLC increased its position in Marriott International by 1.2% during the 1st quarter. Kathmere Capital Management LLC now owns 3,599 shares of the company’s stock valued at $908,000 after purchasing an additional 42 shares during the period. Park Avenue Securities LLC raised its holdings in Marriott International by 1.4% in the 2nd quarter. Park Avenue Securities LLC now owns 3,298 shares of the company’s stock worth $797,000 after purchasing an additional 46 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in shares of Marriott International by 1.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,075 shares of the company’s stock valued at $743,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 70.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MAR. JPMorgan Chase & Co. raised their price objective 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. Sanford C. Bernstein upgraded Marriott International from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $247.00 to $262.00 in a research report on Thursday, August 29th. Wells Fargo & Company decreased their price objective on Marriott International from $248.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Macquarie reaffirmed a “neutral” rating and issued a $245.00 target price on shares of Marriott International in a research report on Friday, August 2nd. Finally, Susquehanna initiated coverage on shares of Marriott International in a research report on Friday, June 21st. They set a “neutral” rating and a $255.00 price target for the company. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $247.33.

Marriott International Stock Performance

Shares of NASDAQ:MAR opened at $244.39 on Friday. The firm has a market cap of $69.80 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 5.34 and a beta of 1.59. The business has a 50-day simple moving average of $229.80 and a two-hundred day simple moving average of $237.88. Marriott International, Inc. has a fifty-two week low of $180.75 and a fifty-two week high of $260.57.

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

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, August 16th. Marriott International’s dividend payout ratio is 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, City Express by Marriott, and St.