Mackenzie Financial Corp Reduces Holdings in Marriott International, Inc. (NASDAQ:MAR)

Mackenzie Financial Corp lessened its holdings in Marriott International, Inc. (NASDAQ:MAR) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,349 shares of the company’s stock after selling 1,577 shares during the period. Mackenzie Financial Corp’s holdings in Marriott International were worth $5,645,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Roble Belko & Company Inc raised its stake in Marriott International by 845.5% in the 1st quarter. Roble Belko & Company Inc now owns 104 shares of the company’s stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. Bangor Savings Bank raised its position in shares of Marriott International by 131.1% in the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock valued at $25,000 after buying an additional 59 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Marriott International during the second quarter valued at approximately $26,000. Benjamin Edwards Inc. purchased a new stake in Marriott International in the 1st quarter worth approximately $29,000. Finally, MFA Wealth Advisors LLC acquired a new position in Marriott International in the 2nd quarter valued at $28,000. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Marriott International Stock Down 1.8 %

MAR opened at $248.60 on Tuesday. The firm has a market capitalization of $71.01 billion, a P/E ratio of 25.66, a P/E/G ratio of 5.68 and a beta of 1.59. The firm’s 50 day moving average is $229.93 and its 200-day moving average is $237.68. Marriott International, Inc. has a 52-week low of $180.75 and a 52-week high of $260.57.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $6.47 billion. During the same quarter in the previous year, the business posted $2.26 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Equities analysts expect that Marriott International, Inc. will post 9.37 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 16th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, August 16th. Marriott International’s payout ratio is 26.01%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Truist Financial dropped 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Macquarie restated a “neutral” rating and issued a $245.00 target price on shares of Marriott International in a report on Friday, August 2nd. Wells Fargo & Company decreased their price target on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their target price on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Marriott International has an average rating of “Hold” and an average price target of $248.65.

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.