DekaBank Deutsche Girozentrale Cuts Stake in Marriott International, Inc. (NASDAQ:MAR)

DekaBank Deutsche Girozentrale reduced its position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,099 shares of the company's stock after selling 1,416 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Marriott International were worth $18,754,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAR. Straightline Group LLC bought a new position in shares of Marriott International in the fourth quarter valued at about $495,000. JPL Wealth Management LLC bought a new position in Marriott International during the fourth quarter worth about $463,000. Sequoia Financial Advisors LLC increased its position in Marriott International by 11.9% during the first quarter. Sequoia Financial Advisors LLC now owns 13,441 shares of the company's stock worth $3,202,000 after acquiring an additional 1,432 shares during the period. Haven Capital Group Inc. bought a new position in Marriott International during the fourth quarter worth about $3,004,000. Finally, Teacher Retirement System of Texas increased its position in Marriott International by 62.2% during the fourth quarter. Teacher Retirement System of Texas now owns 15,098 shares of the company's stock worth $4,211,000 after acquiring an additional 5,788 shares during the period. 70.70% of the stock is owned by institutional investors.

Marriott International Price Performance

Shares of NASDAQ:MAR traded down $0.65 during mid-day trading on Friday, hitting $281.65. The company had a trading volume of 990,597 shares, compared to its average volume of 1,590,819. The firm has a fifty day moving average price of $266.48 and a 200 day moving average price of $262.65. The company has a market capitalization of $77.14 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 3.48 and a beta of 1.41. Marriott International, Inc. has a one year low of $204.55 and a one year high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. Marriott International's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.13 EPS. Research analysts expect that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Increases Dividend

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

Analyst Upgrades and Downgrades

MAR has been the topic of a number of recent research reports. Barclays lowered their price target on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Melius Research raised shares of Marriott International to a "strong-buy" rating in a research report on Monday, April 21st. Morgan Stanley lowered their price target 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. Truist Financial decreased their target price on shares of Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. began coverage on shares of Marriott International in a report on Monday, June 23rd. They issued a "neutral" rating and a $284.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $275.90.

Insider Buying and Selling at Marriott International

In other Marriott International news, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction on Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the transaction, the executive vice president directly owned 20,724 shares of the company's stock, valued at $5,599,832.04. The trade was a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of Marriott International stock in a transaction on Friday, May 30th. The stock was sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the transaction, the chief executive officer directly owned 124,067 shares in the company, valued at $32,741,281.30. This represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,500 shares of company stock worth $4,107,710. 10.68% of the stock is owned by corporate insiders.

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.