Nuveen Asset Management LLC Reduces Stake in Marriott International, Inc. (NASDAQ:MAR)

Nuveen Asset Management LLC reduced its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 5.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 630,937 shares of the company's stock after selling 39,595 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.23% of Marriott International worth $175,994,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Marriott International in the 4th quarter valued at approximately $580,922,000. Wellington Management Group LLP boosted its holdings in shares of Marriott International by 50.8% in the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock valued at $1,300,168,000 after buying an additional 1,570,144 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Marriott International in the 4th quarter valued at approximately $165,162,000. Invesco Ltd. boosted its holdings in shares of Marriott International by 17.4% in the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock valued at $967,662,000 after buying an additional 512,963 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Marriott International by 36,564.5% in the 4th quarter. Proficio Capital Partners LLC now owns 360,779 shares of the company's stock valued at $100,636,000 after buying an additional 359,795 shares during the last quarter. 70.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MAR. Wells Fargo & Company cut their price target on Marriott International from $285.00 to $277.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Robert W. Baird raised their price target on Marriott International from $250.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Jefferies Financial Group upgraded Marriott International from a "hold" rating to a "buy" rating and increased their price objective for the stock from $226.00 to $303.00 in a research report on Monday, May 12th. BMO Capital Markets increased their price objective on Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Finally, Mizuho lowered their price objective on Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Thirteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $276.60.

Insiders Place Their Bets

In other news, EVP Benjamin T. Breland sold 1,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $270.21, for a total transaction of $270,210.00. Following the transaction, the executive vice president now directly owns 20,724 shares in the company, valued at approximately $5,599,832.04. This represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William P. Brown sold 12,642 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $285.63, for a total value of $3,610,934.46. Following the sale, the insider now owns 30,919 shares of the company's stock, valued at $8,831,393.97. This represents a 29.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,694 shares of company stock worth $9,208,342 in the last ninety days. 10.68% of the stock is currently owned by insiders.

Marriott International Stock Down 0.0%

MAR stock traded down $0.04 during midday trading on Monday, hitting $273.19. The company's stock had a trading volume of 1,099,134 shares, compared to its average volume of 1,604,249. The stock's 50-day moving average price is $239.16 and its 200 day moving average price is $266.80. Marriott International, Inc. has a 1 year low of $204.55 and a 1 year high of $307.52. The stock has a market cap of $74.83 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 3.42 and a beta of 1.39.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, beating analysts' consensus estimates of $2.25 by $0.07. The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.19 billion. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 EPS. As a group, equities analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 23rd will be paid a $0.67 dividend. This is a positive change from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Friday, May 23rd. Marriott International's dividend payout ratio is currently 30.52%.

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.