Townsend Asset Management Corp NC ADV Reduces Holdings in Marriott International, Inc. (NASDAQ:MAR)

Townsend Asset Management Corp NC ADV decreased its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 15.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 26,271 shares of the company’s stock after selling 4,648 shares during the quarter. Marriott International makes up approximately 2.4% of Townsend Asset Management Corp NC ADV’s portfolio, making the stock its 11th largest holding. Townsend Asset Management Corp NC ADV’s holdings in Marriott International were worth $6,531,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Bangor Savings Bank boosted its stake in shares of Marriott International by 131.1% during the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after buying an additional 59 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Marriott International during the second quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of Marriott International during the second quarter worth about $28,000. Annapolis Financial Services LLC acquired a new stake in shares of Marriott International during the first quarter worth about $34,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Marriott International during the second quarter worth about $35,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MAR shares. Macquarie reiterated a “neutral” rating and set a $245.00 target price on shares of Marriott International in a research note on Friday, August 2nd. Morgan Stanley reduced their price objective on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Truist Financial reduced their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Evercore ISI raised their price objective on shares of Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a research report on Monday. Finally, Barclays raised their price objective on shares of Marriott International from $240.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 17th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $253.16.

Marriott International Price Performance

Shares of MAR opened at $264.97 on Tuesday. The firm has a 50 day simple moving average of $239.95 and a 200-day simple moving average of $238.44. Marriott International, Inc. has a 1-year low of $180.75 and a 1-year high of $266.58. The stock has a market cap of $75.68 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 6.15 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same period last year, the company posted $2.26 EPS. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts expect that Marriott International, Inc. will post 9.37 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 16th were paid a $0.63 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 0.95%. Marriott International’s payout ratio is currently 26.01%.

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.