Truist Financial Corp Has $12.83 Million Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Truist Financial Corp lessened its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,044 shares of the company’s stock after selling 2,244 shares during the period. Truist Financial Corp’s holdings in Marriott International were worth $12,825,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MAR. JPMorgan Chase & Co. boosted its holdings in Marriott International by 1.8% in the 1st quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after purchasing an additional 192,652 shares during the period. Capital International Investors raised its holdings in Marriott International by 4.7% in the 1st quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after acquiring an additional 149,378 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Marriott International by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 679,757 shares of the company’s stock valued at $164,355,000 after acquiring an additional 33,149 shares during the period. Harbor Investment Advisory LLC increased its position in shares of Marriott International by 11.9% in the first quarter. Harbor Investment Advisory LLC now owns 635,202 shares of the company’s stock worth $160,268,000 after purchasing an additional 67,659 shares during the period. Finally, First Pacific Advisors LP lifted its position in Marriott International by 2.1% during the second quarter. First Pacific Advisors LP now owns 613,205 shares of the company’s stock worth $148,255,000 after purchasing an additional 12,499 shares during the period. Institutional investors own 70.70% of the company’s stock.

Marriott International Stock Up 2.1 %

Shares of NASDAQ MAR opened at $254.61 on Friday. The company has a market capitalization of $72.72 billion, a PE ratio of 26.28, a P/E/G ratio of 5.68 and a beta of 1.59. The firm has a fifty day simple moving average of $230.95 and a 200 day simple moving average of $237.90. Marriott International, Inc. has a twelve month low of $180.75 and a twelve month high of $260.57.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The company had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same period in the previous year, the business earned $2.26 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts expect that Marriott International, Inc. will post 9.37 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 16th were given a dividend of $0.63 per share. The ex-dividend date was Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.99%. Marriott International’s payout ratio is presently 26.01%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group reduced their price target on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Macquarie reaffirmed a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a research note on Friday, August 2nd. Sanford C. Bernstein raised Marriott International from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $247.00 to $262.00 in a research note on Thursday, August 29th. Robert W. Baird decreased their price target on shares of Marriott International from $252.00 to $245.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. Finally, The Goldman Sachs Group assumed coverage on shares of Marriott International in a research report on Wednesday, September 18th. They issued a “buy” rating and a $267.00 target price on the stock. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $248.65.

Marriott International Company 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.