Kayne Anderson Rudnick Investment Management LLC Decreases Stake in Marriott International, Inc. (NASDAQ:MAR)

Kayne Anderson Rudnick Investment Management LLC lowered its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,121 shares of the company’s stock after selling 9,853 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.07% of Marriott International worth $48,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in shares of Marriott International by 1.8% in the 1st quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock worth $2,678,750,000 after acquiring an additional 192,652 shares during the period. Capital International Investors grew its holdings in Marriott International by 4.7% in the first quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after purchasing an additional 149,378 shares during the last quarter. Parnassus Investments LLC raised its stake in shares of Marriott International by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 2,457,382 shares of the company’s stock worth $554,164,000 after buying an additional 7,135 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 worth $164,355,000 after buying an additional 33,149 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in Marriott International by 11.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 635,202 shares of the company’s stock valued at $160,268,000 after acquiring an additional 67,659 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Marriott International Trading Down 0.0 %

Shares of Marriott International stock opened at $244.39 on Friday. The stock has a market capitalization of $69.80 billion, a P/E ratio of 25.22, a PEG ratio of 5.34 and a beta of 1.59. The business’s fifty day moving average price is $229.80 and its 200 day moving average price is $237.81. Marriott International, Inc. has a twelve month low of $180.75 and a twelve month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the previous year, the business earned $2.26 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts predict that Marriott International, Inc. will post 9.37 EPS for the current year.

Marriott International Dividend Announcement

The firm also recently declared 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 is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 1.03%. Marriott International’s dividend payout ratio (DPR) is 26.01%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Marriott International in a research report on Wednesday. They issued a “buy” rating and a $267.00 price target on the stock. UBS Group dropped their price target on Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Morgan Stanley reduced their price objective on Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Robert W. Baird cut their target price on shares of Marriott International from $252.00 to $245.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Finally, Susquehanna assumed coverage on shares of Marriott International in a research note on Friday, June 21st. They set a “neutral” rating and a $255.00 price target on the stock. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Marriott International has an average rating of “Hold” and an average target price of $248.65.

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.