Marriott International, Inc. (NASDAQ:MAR) Shares Bought by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Marriott International by 7.1%, now holding 73,245 shares valued at approximately $17.43 million.
• Marriott International's stock is currently trading at $265.01, with a market cap of $71.94 billion and a P/E ratio of 29.88.
• The company announced a quarterly dividend of $0.67 per share, resulting in an annualized dividend yield of 1.0%.

Resona Asset Management Co. Ltd. increased its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 7.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,245 shares of the company's stock after acquiring an additional 4,824 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Marriott International were worth $17,434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in Marriott International during the fourth quarter valued at $25,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Marriott International in the fourth quarter valued at $34,000. Morse Asset Management Inc purchased a new stake in shares of Marriott International in the first quarter valued at $30,000. Heck Capital Advisors LLC purchased a new stake in shares of Marriott International in the fourth quarter valued at $38,000. Finally, Sound Income Strategies LLC raised its stake in shares of Marriott International by 46.7% in the first quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock valued at $37,000 after acquiring an additional 50 shares during the period. Institutional investors own 70.70% of the company's stock.

Insider Activity

In other news, CEO Anthony Capuano sold 12,000 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the transaction, the chief executive officer owned 124,067 shares of the company's stock, valued at approximately $32,741,281.30. The trade was a 8.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rajeev Menon sold 2,500 shares of the business'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 transaction, the insider directly owned 5,706 shares in the company, valued at approximately $1,530,805.68. The trade was a 30.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 10.68% of the company's stock.

Marriott International Stock Down 1.2%

Shares of Marriott International stock traded down $3.15 during trading hours on Thursday, reaching $266.55. 1,153,232 shares of the company's stock were exchanged, compared to its average volume of 1,546,599. Marriott International, Inc. has a 1 year low of $205.40 and a 1 year high of $307.52. The company has a market capitalization of $72.36 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 2.57 and a beta of 1.44. The business has a fifty day moving average of $269.02 and a two-hundred day moving average of $261.07.

Marriott International (NASDAQ:MAR - Get Free Report) last released its 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. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the prior year, the firm earned $2.50 earnings per share. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International declared that its board has approved a share buyback plan on Thursday, August 7th that authorizes the company to repurchase 25,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Marriott International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $2.68 annualized dividend and a dividend yield of 1.0%. Marriott International's payout ratio is presently 30.21%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Barclays reduced their target price on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird increased their target price on shares of Marriott International from $265.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. began coverage on shares of Marriott International in a research note on Monday, June 23rd. They issued a "neutral" rating and a $284.00 price target on the stock. Finally, BMO Capital Markets reduced 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 research note on Wednesday, August 6th. Twelve 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $280.89.

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.