New York Life Investment Management LLC Reduces Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

New York Life Investment Management LLC trimmed its holdings in Marriott International, Inc. (NASDAQ:MAR) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,483 shares of the company’s stock after selling 784 shares during the period. New York Life Investment Management LLC’s holdings in Marriott International were worth $9,619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MAR. Sound Income Strategies LLC boosted its stake in shares of Marriott International by 494.4% during the fourth quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock valued at $30,000 after acquiring an additional 89 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of Marriott International during the 4th quarter worth about $33,000. Silvant Capital Management LLC purchased a new stake in shares of Marriott International during the third quarter worth about $31,000. Darwin Wealth Management LLC purchased a new position in shares of Marriott International during the third quarter valued at approximately $33,000. Finally, Heck Capital Advisors LLC acquired a new stake in Marriott International during the fourth quarter worth approximately $38,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Marriott International news, Director Susan C. Schwab sold 1,054 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $277.48, for a total value of $292,463.92. Following the transaction, the director now directly owns 4,551 shares of the company’s stock, valued at $1,262,811.48. This represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kathleen K. Oberg sold 14,498 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $278.07, for a total value of $4,031,458.86. Following the transaction, the chief financial officer now owns 14,282 shares in the company, valued at approximately $3,971,395.74. This trade represents a 50.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,694 shares of company stock valued at $8,938,132 over the last 90 days. 10.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MAR has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Wells Fargo & Company decreased their price target on Marriott International from $285.00 to $277.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Barclays cut their price objective on shares of Marriott International from $287.00 to $283.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Susquehanna boosted their target price on shares of Marriott International from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group raised their price objective on Marriott International from $280.00 to $314.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $284.05.

Marriott International Stock Down 1.8 %

Shares of NASDAQ:MAR opened at $277.21 on Friday. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52. The company has a market cap of $76.43 billion, a PE ratio of 33.32, a P/E/G ratio of 3.42 and a beta of 1.57. The company’s 50-day moving average price is $283.27 and its 200 day moving average price is $266.49.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.08. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. As a group, equities analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International’s dividend payout ratio is currently 30.29%.

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.