Greenfield Savings Bank Cuts Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Greenfield Savings Bank trimmed its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,169 shares of the company’s stock after selling 70 shares during the period. Greenfield Savings Bank’s holdings in Marriott International were worth $755,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MAR. FMR LLC boosted its holdings in shares of 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 boosted its holdings in shares of 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 boosted its holdings in shares of 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 boosted its holdings in shares of 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. boosted its holdings in shares of 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 purchasing an additional 512,963 shares during the period. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Marriott International Price Performance

Marriott International stock opened at $264.40 on Wednesday. Marriott International, Inc. has a one year low of $204.55 and a one year high of $307.52. The stock has a market capitalization of $72.42 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 3.42 and a beta of 1.39. The business’s fifty day moving average is $243.91 and its 200 day moving average is $265.85.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.25 by $0.07. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period last year, the firm posted $2.13 earnings per share. Marriott International’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 23rd will be issued a $0.67 dividend. This is an increase from Marriott International’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.68 dividend on an annualized basis and a yield of 1.01%. Marriott International’s dividend payout ratio is currently 30.52%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Dbs Bank upgraded shares of Marriott International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 14th. Truist Financial lowered their price objective on shares of Marriott International from $300.00 to $273.00 and set a “hold” rating for the company in a report on Friday, May 30th. Wells Fargo & Company lowered their price objective on shares of Marriott International from $285.00 to $277.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Stifel Nicolaus lowered their price objective on shares of Marriott International from $295.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, April 16th. Finally, Evercore ISI upgraded shares of Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price objective for the company in a report on Tuesday, February 4th. Thirteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $275.15.

Insider Buying and Selling at Marriott International

In other Marriott International 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 value of $270,210.00. Following the transaction, the executive vice president now owns 20,724 shares of the company’s stock, valued at approximately $5,599,832.04. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 124,067 shares in the company, valued at approximately $32,741,281.30. This represents a 8.82% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is owned by corporate insiders.

Marriott International 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.