Mutual of America Capital Management LLC Trims Position in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Mutual of America Capital Management LLC reduced its stake in Marriott International by 3.7%, selling 1,018 shares and ending the quarter with a total of 26,629 shares valued at approximately $6.34 million.
• Marriott International reported $2.65 EPS for the quarter, meeting analysts' estimates, with a year-over-year revenue increase of 4.7% to $6.74 billion.
• The company announced a quarterly dividend of $0.67 per share, providing a 1.0% yield, and initiated a share repurchase program authorizing the buyback of 25 million shares.

Mutual of America Capital Management LLC lowered its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 3.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 26,629 shares of the company's stock after selling 1,018 shares during the period. Mutual of America Capital Management LLC's holdings in Marriott International were worth $6,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Capital International Investors lifted its position in shares of Marriott International by 0.3% in the fourth quarter. Capital International Investors now owns 4,720,306 shares of the company's stock worth $1,316,682,000 after buying an additional 15,923 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Marriott International by 5.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,507,144 shares of the company's stock worth $699,345,000 after acquiring an additional 123,484 shares in the last quarter. Northern Trust Corp boosted its position in shares of Marriott International by 16.3% during the 4th quarter. Northern Trust Corp now owns 2,333,994 shares of the company's stock valued at $651,044,000 after acquiring an additional 327,415 shares during the last quarter. Fundsmith Investment Services LTD. increased its position in Marriott International by 5.5% in the fourth quarter. Fundsmith Investment Services LTD. now owns 1,504,980 shares of the company's stock worth $419,799,000 after purchasing an additional 78,770 shares during the last quarter. Finally, Fayez Sarofim & Co raised its stake in Marriott International by 2.5% during the fourth quarter. Fayez Sarofim & Co now owns 1,047,156 shares of the company's stock valued at $296,455,000 after purchasing an additional 25,469 shares in the last quarter. 70.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Benjamin T. Breland sold 1,000 shares of the firm's 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rajeev Menon sold 2,500 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total value of $670,700.00. Following the transaction, the insider directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 15,500 shares of company stock valued at $4,107,710. 10.68% of the stock is currently owned by insiders.

Marriott International Price Performance

Shares of MAR stock traded down $0.67 during mid-day trading on Friday, hitting $259.92. The stock had a trading volume of 1,353,626 shares, compared to its average volume of 1,544,380. Marriott International, Inc. has a 12-month low of $205.40 and a 12-month high of $307.52. The firm's 50-day moving average is $268.78 and its two-hundred day moving average is $261.61. The firm has a market capitalization of $70.56 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 2.49 and a beta of 1.44.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.65. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.66 billion. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%. The business's revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $2.50 EPS. Analysts expect that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International declared that its board has initiated a share buyback program on Thursday, August 7th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Marriott International Announces Dividend

The company 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 payout ratio is currently 30.21%.

Analysts Set New Price Targets

MAR has been the topic of a number of research reports. 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. Barclays reduced their price objective on Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group upgraded Marriott International from a "hold" rating to a "buy" rating and lifted their target price for the stock from $226.00 to $303.00 in a report on Monday, May 12th. BMO Capital Markets decreased their price target on Marriott International from $285.00 to $280.00 and set a "market perform" rating on the stock in a report on Wednesday. Finally, 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 research note on Monday, April 14th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $280.89.

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.