M&T Bank Corp Trims Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

M&T Bank Corp trimmed its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 7.7% in the first quarter, according to the company in 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 quarter. M&T Bank Corp's holdings in Marriott International were worth $10,634,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in Marriott International by 0.8% during the fourth quarter. FMR LLC now owns 6,973,897 shares of the company's stock worth $1,945,299,000 after purchasing an additional 56,978 shares during the period. Geode Capital Management LLC lifted its position in Marriott International by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 5,026,529 shares of the company's stock worth $1,398,321,000 after purchasing an additional 60,458 shares during the period. Capital International Investors lifted its position in Marriott International by 0.3% during the fourth quarter. Capital International Investors now owns 4,720,306 shares of the company's stock worth $1,316,682,000 after purchasing an additional 15,923 shares during the period. Wellington Management Group LLP lifted its position in Marriott International by 50.8% during the fourth quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock worth $1,300,168,000 after purchasing an additional 1,570,144 shares during the period. Finally, Invesco Ltd. raised its stake in Marriott International by 17.4% during the fourth quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock worth $967,662,000 after acquiring an additional 512,963 shares in the last quarter. 70.70% of the stock is owned by institutional investors.

Marriott International Stock Performance

Marriott International stock traded down $0.65 during mid-day trading on Friday, reaching $281.65. The company's stock had a trading volume of 990,597 shares, compared to its average volume of 1,590,819. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52. The company has a market capitalization of $77.14 billion, a P/E ratio of 32.08, a PEG ratio of 3.48 and a beta of 1.41. The firm's fifty day moving average price is $266.48 and its two-hundred day moving average price is $262.65.

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

Marriott International Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on the company. BMO Capital Markets boosted their target price on Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Dbs Bank raised Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Mizuho reduced their target price on Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. UBS Group reduced their target price on Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Finally, Melius Research upgraded Marriott International to a "strong-buy" rating in a report on Monday, April 21st. 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's stock. According to MarketBeat.com, Marriott International presently has an average rating of "Moderate Buy" and an average target price of $275.90.

Insider Transactions at Marriott International

In related news, insider Rajeev Menon sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the sale, the insider owned 5,706 shares in the company, valued at $1,530,805.68. The trade was a 30.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of the business's 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 completion of the sale, the chief executive officer owned 124,067 shares of the company's stock, valued at $32,741,281.30. The trade was a 8.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,500 shares of company stock valued at $4,107,710. 10.68% of the stock is 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.