Marriott International, Inc. (NASDAQ:MAR) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,645 shares of the company's stock after selling 3,734 shares during the period. M&T Bank Corp's holdings in Marriott International were worth $10,634,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new position in Marriott International in the 4th quarter worth approximately $25,000. Bernard Wealth Management Corp. bought a new position in Marriott International in the fourth quarter valued at $25,000. Kapitalo Investimentos Ltda purchased a new stake in Marriott International during the fourth quarter valued at about $34,000. Sound Income Strategies LLC raised its position in Marriott International by 46.7% during the first quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock valued at $37,000 after purchasing an additional 50 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in shares of Marriott International during the 4th quarter valued at about $38,000. 70.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on MAR. Dbs Bank raised shares of Marriott International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. initiated coverage on Marriott International in a report on Monday, June 23rd. They issued a "neutral" rating and a $284.00 price objective on the stock. Melius Research upgraded Marriott International to a "strong-buy" rating in a report on Monday, April 21st. Morgan Stanley decreased their price objective on Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, BMO Capital Markets lifted their price objective on Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $275.90.

Marriott International Stock Performance

Shares of NASDAQ MAR traded up $3.11 during midday trading on Thursday, hitting $282.30. 1,440,179 shares of the stock traded hands, compared to its average volume of 1,593,051. The firm has a market capitalization of $77.32 billion, a P/E ratio of 32.15, a PEG 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 one year low of $204.55 and a one year high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.07. The company had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.13 EPS. 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 announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were given a $0.67 dividend. This is an increase from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Friday, May 23rd. Marriott International's payout ratio is currently 30.52%.

Insider Transactions at Marriott International

In related news, insider Rajeev Menon sold 2,500 shares of the firm's 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 completion of the transaction, the insider directly owned 5,706 shares of the company's stock, valued at approximately $1,530,805.68. This trade represents a 30.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $270,210.00. Following the transaction, the executive vice president owned 20,724 shares of the company's stock, valued at $5,599,832.04. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock valued at $4,107,710 in the last ninety days. Corporate insiders own 10.68% of the company's stock.

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.