Fayez Sarofim & Co Has $243.99 Million Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Fayez Sarofim & Co holds a stock position worth $243.99 million in Marriott International, having reduced its shareholding by 3.5% in the first quarter.
• Marriott International announced a quarterly dividend of $0.67 per share, increasing from the previous $0.63, resulting in a dividend yield of 1.0%.
• The company's latest earnings report showed earnings per share (EPS) of $2.65, matching analyst expectations, with a revenue of $6.74 billion, reflecting a year-over-year growth of 4.7%.

Fayez Sarofim & Co decreased its position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,010,867 shares of the company's stock after selling 36,289 shares during the quarter. Fayez Sarofim & Co owned about 0.37% of Marriott International worth $243,990,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Marriott International by 13.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 439,252 shares of the company's stock worth $104,630,000 after buying an additional 51,215 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Marriott International by 243.4% during the first quarter. Headlands Technologies LLC now owns 5,343 shares of the company's stock worth $1,273,000 after acquiring an additional 3,787 shares in the last quarter. Deutsche Bank AG lifted its position in Marriott International by 19.1% in the 1st quarter. Deutsche Bank AG now owns 1,447,911 shares of the company's stock valued at $344,892,000 after acquiring an additional 232,036 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Marriott International by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,514,831 shares of the company's stock valued at $360,833,000 after purchasing an additional 37,212 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in Marriott International during the 1st quarter worth approximately $4,447,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on MAR shares. Robert W. Baird lifted their target price on Marriott International from $265.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Mizuho cut their price objective on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Dbs Bank upgraded shares of Marriott International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 14th. BMO Capital Markets cut their price target on shares of Marriott International from $285.00 to $280.00 and set a "market perform" rating on the stock in a report on Wednesday. Finally, Morgan Stanley dropped their target price on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $280.89.

Marriott International Stock Performance

NASDAQ:MAR opened at $262.71 on Thursday. Marriott International, Inc. has a 52-week low of $205.40 and a 52-week high of $307.52. The business's fifty day moving average is $268.91 and its 200 day moving average is $261.84. The firm has a market cap of $71.96 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.49 and a beta of 1.44.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.65. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.66 billion. Marriott International had a net margin of 9.60% and a negative return on equity of 94.29%. The company's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.50 earnings per share. Equities analysts predict that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.0%. This is a positive change from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. Marriott International's dividend payout ratio (DPR) is currently 30.52%.

Insider Buying and Selling

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

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.

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