CIBC Asset Management Inc Sells 940 Shares of Marriott International, Inc. (NASDAQ:MAR)

CIBC Asset Management Inc lessened its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,970 shares of the company’s stock after selling 940 shares during the quarter. CIBC Asset Management Inc’s holdings in Marriott International were worth $19,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Marriott International during the fourth quarter valued at approximately $461,525,000. Capital International Investors boosted its stake in Marriott International by 42.2% in the 4th quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock valued at $709,793,000 after buying an additional 934,304 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Marriott International in the first quarter valued at $153,697,000. Public Employees Retirement Association of Colorado lifted its holdings in shares of Marriott International by 557.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 496,505 shares of the company’s stock valued at $111,967,000 after acquiring an additional 420,962 shares during the period. Finally, Crake Asset Management LLP acquired a new stake in shares of Marriott International in the 4th quarter valued at $64,022,000. 70.70% of the stock is currently owned by institutional investors.

Marriott International Stock Up 1.4 %

MAR stock opened at $234.69 on Tuesday. Marriott International, Inc. has a twelve month low of $180.75 and a twelve month high of $260.57. The company has a market cap of $66.07 billion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 5.51 and a beta of 1.60. The business’s fifty day moving average is $232.14 and its 200-day moving average is $239.18.

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. The firm had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.26 earnings per share. Research analysts anticipate that Marriott International, Inc. will post 9.37 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Truist Financial cut 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. Barclays increased their target price on Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 17th. Finally, Sanford C. Bernstein raised Marriott International from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $247.00 to $262.00 in a report on Thursday, August 29th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $244.44.

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.