Comerica Bank Sells 2,790 Shares of Marriott International, Inc. (NASDAQ:MAR)

Comerica Bank trimmed its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 4.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 57,094 shares of the company’s stock after selling 2,790 shares during the period. Comerica Bank’s holdings in Marriott International were worth $14,405,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in MAR. Norges Bank bought a new position in Marriott International during the 4th quarter valued at about $461,525,000. Jennison Associates LLC raised its stake in shares of Marriott International by 34.8% in the fourth quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock worth $1,025,416,000 after acquiring an additional 1,173,028 shares during the last quarter. Capital International Investors raised its stake in shares of Marriott International by 42.2% in the fourth quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock worth $709,793,000 after acquiring an additional 934,304 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Marriott International in the first quarter worth about $153,697,000. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Marriott International by 557.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 496,505 shares of the company’s stock worth $111,967,000 after acquiring an additional 420,962 shares during the last quarter. 70.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MAR has been the subject of several analyst reports. Wells Fargo & Company lowered their price target on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Susquehanna started coverage on shares of Marriott International in a research report on Friday, June 21st. They issued a “neutral” rating and a $255.00 price objective on the stock. BMO Capital Markets boosted their price objective on shares of Marriott International from $235.00 to $240.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Finally, 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 research report on Thursday. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $241.22.

Marriott International Price Performance

Shares of NASDAQ MAR traded down $5.66 during mid-day trading on Friday, reaching $213.12. 1,109,776 shares of the company’s stock were exchanged, compared to its average volume of 1,474,515. The firm has a market capitalization of $60.87 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 4.39 and a beta of 1.60. Marriott International, Inc. has a 52 week low of $180.75 and a 52 week high of $260.57. The firm has a 50-day moving average price of $238.43 and a two-hundred day moving average price of $241.88.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a negative return on equity of 306.69% and a net margin of 12.01%. The business had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same period in the previous year, the business posted $2.26 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Marriott International, Inc. will post 9.31 EPS for the current fiscal year.

Marriott International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 24th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, May 23rd. This is a positive change from Marriott International’s previous quarterly dividend of $0.52. Marriott International’s payout ratio is presently 26.01%.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.