Mizuho Securities USA LLC Decreases Holdings in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Marriott International by 16.2%, selling 3,539 shares during the first quarter, leaving them with 18,322 shares valued at approximately $4.36 million.
• Marriott International's quarterly earnings met analysts' expectations with an EPS of $2.65 and revenue of $6.74 billion, an increase of 4.7% from the previous year.
• The company has announced a quarterly dividend of $0.67 per share with a yield of 1.0%, while also authorizing a stock buyback program for 25 million shares.

Mizuho Securities USA LLC lowered its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 16.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,322 shares of the company's stock after selling 3,539 shares during the period. Mizuho Securities USA LLC's holdings in Marriott International were worth $4,364,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MAR. GAMMA Investing LLC raised its stake in shares of Marriott International by 23,923.3% during the first quarter. GAMMA Investing LLC now owns 731,989 shares of the company's stock valued at $174,360,000 after acquiring an additional 728,942 shares during the last quarter. Northern Trust Corp grew its stake in Marriott International by 16.3% in the fourth quarter. Northern Trust Corp now owns 2,333,994 shares of the company's stock worth $651,044,000 after purchasing an additional 327,415 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Marriott International in the 4th quarter worth about $88,062,000. Deutsche Bank AG boosted its position in shares of Marriott International by 19.1% in the 1st quarter. Deutsche Bank AG now owns 1,447,911 shares of the company's stock worth $344,892,000 after purchasing an additional 232,036 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Marriott International by 757.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 242,277 shares of the company's stock valued at $57,710,000 after buying an additional 214,023 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BMO Capital Markets reduced their price target on Marriott International from $285.00 to $280.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. Dbs Bank raised shares of Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Morgan Stanley reduced their target price on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. initiated coverage on Marriott International in a research note on Monday, June 23rd. They issued a "neutral" rating and a $284.00 target price on the stock. Twelve 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's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $280.89.

Marriott International Stock Up 1.8%

Shares of NASDAQ MAR traded up $4.69 during trading hours on Wednesday, hitting $269.70. 987,287 shares of the stock were exchanged, compared to its average volume of 1,716,008. The firm has a fifty day moving average price of $268.73 and a 200-day moving average price of $261.16. The company has a market cap of $73.21 billion, a PE ratio of 30.41, a PEG ratio of 2.46 and a beta of 1.44. Marriott International, Inc. has a 12 month low of $205.40 and a 12 month high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last posted 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 business had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.66 billion. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $2.50 earnings per share. As a group, equities analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

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

Marriott International declared that its board has authorized a share repurchase program on Thursday, August 7th that allows the company to repurchase 25,000,000 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Marriott International

In other news, insider Rajeev Menon sold 2,500 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total value of $670,700.00. Following the sale, the insider owned 5,706 shares in the company, valued at $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The sale was disclosed in a 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 that occurred on Friday, May 30th. The shares were sold at an average price of $263.90, for a total value 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. This represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by corporate insiders.

Marriott International Company 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.