Bank of New York Mellon Corp Sells 40,045 Shares of Marriott International, Inc. (NASDAQ:MAR)

Bank of New York Mellon Corp cut its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,635,963 shares of the company's stock after selling 40,045 shares during the period. Bank of New York Mellon Corp owned about 0.59% of Marriott International worth $389,686,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its holdings in Marriott International by 0.8% during the 4th quarter. FMR LLC now owns 6,973,897 shares of the company's stock worth $1,945,299,000 after purchasing an additional 56,978 shares during the last quarter. Geode Capital Management LLC raised its holdings in Marriott International by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 5,026,529 shares of the company's stock worth $1,398,321,000 after purchasing an additional 60,458 shares during the last quarter. Capital International Investors raised its holdings in Marriott International by 0.3% during the 4th quarter. Capital International Investors now owns 4,720,306 shares of the company's stock worth $1,316,682,000 after purchasing an additional 15,923 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Marriott International by 50.8% in the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock valued at $1,300,168,000 after acquiring an additional 1,570,144 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Marriott International by 17.4% in the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock valued at $967,662,000 after acquiring an additional 512,963 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MAR has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on shares of Marriott International from $250.00 to $265.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group upgraded shares of Marriott International from a "hold" rating to a "buy" rating and lifted their price objective for the company from $226.00 to $303.00 in a research note on Monday, May 12th. Dbs Bank upgraded shares of Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Finally, Barclays decreased their price target on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Thirteen research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Marriott International has a consensus rating of "Moderate Buy" and a consensus price target of $275.90.

Insider Buying and Selling

In other Marriott International news, insider Rajeev Menon sold 2,500 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total transaction of $670,700.00. Following the sale, the insider directly owned 5,706 shares of the company's stock, valued at $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Benjamin T. Breland sold 1,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the sale, the executive vice president directly owned 20,724 shares in the company, valued at approximately $5,599,832.04. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,500 shares of company stock valued at $4,107,710. 10.68% of the stock is owned by insiders.

Marriott International Stock Performance

MAR traded up $2.67 during mid-day trading on Tuesday, reaching $281.07. 234,548 shares of the stock were exchanged, compared to its average volume of 1,587,946. The stock has a market capitalization of $76.98 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 3.45 and a beta of 1.41. The company has a 50 day moving average price of $263.45 and a two-hundred day moving average price of $262.46. Marriott International, Inc. has a 1 year low of $204.55 and a 1 year high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.25 by $0.07. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The firm's quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.13 EPS. Sell-side analysts expect that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were issued a $0.67 dividend. This is an increase from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, May 23rd. Marriott International's payout ratio is 30.52%.

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, City Express by Marriott, and St.