Allspring Global Investments Holdings LLC Lowers Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Allspring Global Investments Holdings LLC cut its holdings in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 14.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,165 shares of the company's stock after selling 1,923 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Marriott International were worth $2,660,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAR. Hopwood Financial Services Inc. bought a new position in Marriott International during the 4th quarter valued at about $25,000. Bernard Wealth Management Corp. bought a new position in Marriott International during the 4th quarter valued at about $25,000. Bell Investment Advisors Inc lifted its stake in Marriott International by 112.2% during the 4th quarter. Bell Investment Advisors Inc now owns 104 shares of the company's stock valued at $29,000 after acquiring an additional 55 shares during the period. Kapitalo Investimentos Ltda bought a new position in Marriott International during the 4th quarter valued at about $34,000. Finally, Heck Capital Advisors LLC bought a new position in Marriott International during the 4th quarter valued at about $38,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marriott International

In related news, EVP Benjamin T. Breland sold 1,000 shares of the stock in a transaction on Monday, May 12th. The stock was 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 of the company's stock, valued at approximately $5,599,832.04. This represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $263.90, for a total value of $3,166,800.00. Following the completion of the sale, the chief executive officer directly owned 124,067 shares of the company's stock, valued at $32,741,281.30. This trade represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,500 shares of company stock valued at $4,107,710. 10.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Dbs Bank upgraded shares of Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $245.00 price objective (down from $313.00) on shares of Marriott International in a report on Monday, April 14th. Mizuho cut their target price on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Morgan Stanley dropped 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. Finally, Robert W. Baird lifted their target price on Marriott International from $250.00 to $265.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Thirteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.90.

Marriott International Stock Up 1.1%

Shares of MAR stock traded up $3.11 during trading hours on Thursday, hitting $282.30. 1,440,148 shares of the company's stock were exchanged, compared to its average volume of 1,593,051. The firm has a market cap of $77.32 billion, a P/E ratio of 32.15, a P/E/G ratio of 3.45 and a beta of 1.41. The firm has a 50 day moving average of $265.07 and a two-hundred day moving average of $262.69. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52.

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

Marriott International Increases Dividend

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

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.