Comerica Bank Cuts Stake in Marriott International, Inc. (NASDAQ:MAR)

Comerica Bank trimmed its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 11.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,772 shares of the company's stock after selling 4,827 shares during the quarter. Comerica Bank's holdings in Marriott International were worth $10,536,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wescott Financial Advisory Group LLC grew its stake in Marriott International by 0.6% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 5,554 shares of the company's stock worth $1,549,000 after acquiring an additional 35 shares during the period. TFG Advisers LLC boosted its position in Marriott International by 0.8% in the fourth quarter. TFG Advisers LLC now owns 4,426 shares of the company's stock valued at $1,235,000 after buying an additional 37 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Marriott International by 1.2% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,290 shares of the company's stock worth $918,000 after acquiring an additional 38 shares during the last quarter. Evermay Wealth Management LLC boosted its position in shares of Marriott International by 1.1% during the 4th quarter. Evermay Wealth Management LLC now owns 3,415 shares of the company's stock worth $953,000 after acquiring an additional 38 shares in the last quarter. Finally, Essex Financial Services Inc. increased its stake in Marriott International by 1.3% during the 4th quarter. Essex Financial Services Inc. now owns 3,004 shares of the company's stock valued at $838,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company's stock.

Wall Street Analyst Weigh In

MAR has been the subject of several recent research reports. Robert W. Baird boosted their price target on Marriott International from $250.00 to $265.00 and gave the stock a "neutral" rating in a research report on Wednesday. Stifel Nicolaus cut their target price on Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. BMO Capital Markets boosted their price objective on Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating in a research note on Wednesday. Wells Fargo & Company cut their price objective on shares of Marriott International from $285.00 to $277.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Finally, Truist Financial cut their price objective on Marriott International from $308.00 to $300.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $272.75.

Insider Buying and Selling

In other news, CFO Kathleen K. Oberg sold 14,498 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $278.07, for a total value of $4,031,458.86. Following the completion of the transaction, the chief financial officer now directly owns 14,282 shares of the company's stock, valued at approximately $3,971,395.74. This represents a 50.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William P. Brown sold 12,642 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $285.63, for a total value of $3,610,934.46. Following the sale, the insider now owns 30,919 shares in the company, valued at $8,831,393.97. The trade was a 29.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,694 shares of company stock valued at $8,938,132. Company insiders own 10.68% of the company's stock.

Marriott International Stock Performance

NASDAQ:MAR traded up $4.03 during trading on Wednesday, reaching $255.99. The company's stock had a trading volume of 1,866,082 shares, compared to its average volume of 1,916,452. The firm has a 50 day moving average of $239.00 and a 200-day moving average of $266.50. The firm has a market cap of $70.64 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 3.42 and a beta of 1.39. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.07. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.19 billion. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. Marriott International's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.13 EPS. Equities research analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, February 27th were given a $0.63 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.52 annualized dividend and a dividend yield of 0.98%. Marriott International's dividend payout ratio is currently 30.29%.

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, City Express by Marriott, and St.