New Covenant Trust Company N.A. Makes New $44,000 Investment in Marriott International, Inc. (NASDAQ:MAR)

New Covenant Trust Company N.A. bought a new position in Marriott International, Inc. (NASDAQ:MAR) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 176 shares of the company’s stock, valued at approximately $44,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Marriott International during the fourth quarter valued at $461,525,000. Jennison Associates LLC boosted its holdings in 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 purchasing an additional 1,173,028 shares during the last quarter. Capital International Investors grew its position in Marriott International by 42.2% in the 4th quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock worth $709,793,000 after purchasing an additional 934,304 shares during the period. Global Assets Advisory LLC bought a new position in shares of Marriott International during the 1st quarter valued at $153,697,000. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of Marriott International by 557.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 496,505 shares of the company’s stock worth $111,967,000 after buying an additional 420,962 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MAR shares. Deutsche Bank Aktiengesellschaft dropped their target price on Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research report on Thursday. Susquehanna began 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. Wells Fargo & Company decreased their target price on Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday. Robert W. Baird reduced their price target on Marriott International from $252.00 to $245.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Mizuho boosted their price objective on Marriott International from $260.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $241.22.

Marriott International Stock Down 2.3 %

MAR stock traded down $5.11 during trading on Friday, hitting $213.67. The company had a trading volume of 3,654,499 shares, compared to its average volume of 1,491,709. The firm has a market capitalization of $61.03 billion, a P/E ratio of 22.15, a PEG 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 company has a 50 day simple moving average of $238.43 and a 200-day simple moving average of $241.88.

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 the consensus estimate of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 306.69%. The company had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same period in the prior year, the business earned $2.26 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts forecast that Marriott International, Inc. will post 9.31 earnings per share for the current year.

Marriott International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 24th were issued a $0.63 dividend. This is a boost from Marriott International’s previous quarterly dividend of $0.52. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, May 23rd. Marriott International’s dividend payout ratio (DPR) is currently 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.