Crossmark Global Holdings Inc. Trims Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Crossmark Global Holdings Inc. trimmed its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 6.5% during the second quarter, HoldingsChannel.com reports. The firm owned 34,533 shares of the company’s stock after selling 2,400 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Marriott International were worth $8,349,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in MAR. JPMorgan Chase & Co. lifted its stake in Marriott International by 1.8% during the first quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock worth $2,678,750,000 after purchasing an additional 192,652 shares during the last quarter. Capital International Investors boosted its position in Marriott International by 4.7% during the first quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after buying an additional 149,378 shares during the period. Parnassus Investments LLC grew its stake in shares of Marriott International by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 2,457,382 shares of the company’s stock valued at $554,164,000 after buying an additional 7,135 shares during the last quarter. Norges Bank bought a new stake in shares of Marriott International in the 4th quarter valued at about $461,525,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Marriott International by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,434,785 shares of the company’s stock valued at $323,558,000 after acquiring an additional 27,532 shares during the period. Institutional investors own 70.70% of the company’s stock.

Marriott International Stock Performance

Shares of MAR traded up $3.32 during mid-day trading on Friday, reaching $234.69. The company had a trading volume of 2,218,111 shares, compared to its average volume of 1,488,453. Marriott International, Inc. has a 52 week low of $180.75 and a 52 week high of $260.57. The company has a market capitalization of $67.03 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 4.24 and a beta of 1.60. The firm has a 50-day moving average price of $232.53 and a 200 day moving average price of $239.26.

Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.47 billion. During the same period last year, the business posted $2.26 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. As a group, research analysts forecast that Marriott International, Inc. will post 9.29 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 1.07%. Marriott International’s dividend payout ratio is presently 26.01%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MAR shares. Truist Financial lowered their price objective on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Macquarie reissued a “neutral” rating and issued a $245.00 price target on shares of Marriott International in a report on Friday, August 2nd. Wells Fargo & Company lowered their price objective on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Mizuho raised their target price on Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $243.42.

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.