Marriott International, Inc. (NASDAQ:MAR) Shares Sold by TIAA Trust National Association

Key Points

• TIAA Trust National Association significantly reduced its stake in Marriott International by 79.9%, selling 38,311 shares and holding 9,641 shares valued at approximately $2,296,000 at the end of the first quarter.
• Marriott International's quarterly revenue increased by 4.8% year-over-year, reaching $6.26 billion, with earnings per share reported at $2.32, exceeding analyst estimates.
• The company announced a quarterly dividend increase to $0.67 per share, up from $0.63, reflecting a payout ratio of 30.52%.

TIAA Trust National Association trimmed its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 79.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,641 shares of the company's stock after selling 38,311 shares during the quarter. TIAA Trust National Association's holdings in Marriott International were worth $2,296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MAR. Bernard Wealth Management Corp. acquired a new position in Marriott International during the 4th quarter worth $25,000. Morse Asset Management Inc purchased a new stake in Marriott International during the 1st quarter valued at approximately $30,000. Kapitalo Investimentos Ltda purchased a new position in Marriott International during the fourth quarter worth about $34,000. Sound Income Strategies LLC boosted its holdings in Marriott International by 46.7% during the first quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock worth $37,000 after buying an additional 50 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of Marriott International during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 70.70% of the company's stock.

Marriott International Stock Performance

Shares of NASDAQ:MAR traded down $2.06 on Thursday, reaching $260.65. The company's stock had a trading volume of 1,420,163 shares, compared to its average volume of 1,729,630. Marriott International, Inc. has a 52-week low of $205.40 and a 52-week high of $307.52. The company has a market cap of $71.39 billion, a P/E ratio of 29.39, a PEG ratio of 2.49 and a beta of 1.44. The company has a 50-day simple moving average of $268.91 and a 200 day simple moving average of $261.84.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, meeting the consensus estimate of $2.65. Marriott International had a net margin of 9.60% and a negative return on equity of 94.29%. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.66 billion. During the same period last year, the firm earned $2.50 earnings per share. Marriott International's revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were issued a $0.67 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.68 annualized dividend and a dividend yield of 1.0%. This is a boost from Marriott International's previous quarterly dividend of $0.63. Marriott International's dividend payout ratio (DPR) is presently 30.21%.

Insider Activity at Marriott International

In related news, CEO Anthony Capuano sold 12,000 shares of the firm's stock in a transaction dated 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 owned 124,067 shares of the company's stock, valued at $32,741,281.30. This trade represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Rajeev Menon sold 2,500 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total transaction of $670,700.00. Following the transaction, the insider directly owned 5,706 shares of the company's stock, 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. In the last 90 days, insiders have sold 15,500 shares of company stock worth $4,107,710. 10.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MAR shares. Jefferies Financial Group upgraded Marriott International from a "hold" rating to a "buy" rating and lifted their target price for the company from $226.00 to $303.00 in a research note on Monday, May 12th. The Goldman Sachs Group restated a "neutral" rating and set a $245.00 price target (down previously from $313.00) on shares of Marriott International in a research note on Monday, April 14th. UBS Group cut their price objective on Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Melius Research upgraded shares of Marriott International to a "strong-buy" rating in a research note on Monday, April 21st. Finally, Robert W. Baird lifted their target price on shares of Marriott International from $265.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Marriott International presently has a consensus rating of "Moderate Buy" and an average 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.