Sumitomo Life Insurance Co. Raises Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Sumitomo Life Insurance Co. lifted its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,681 shares of the company’s stock after buying an additional 172 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Marriott International were worth $1,661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Global Assets Advisory LLC acquired a new stake in shares of Marriott International in the first quarter worth approximately $153,697,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Marriott International by 36,856.7% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock valued at $58,346,000 after purchasing an additional 240,674 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Marriott International by 1.8% during the first quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock worth $2,678,750,000 after purchasing an additional 192,652 shares in the last quarter. Capital International Investors boosted its position in shares of Marriott International by 4.7% during the first quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock worth $831,836,000 after buying an additional 149,378 shares during the period. Finally, AXA S.A. raised its holdings in shares of Marriott International by 133.4% in the 2nd quarter. AXA S.A. now owns 221,045 shares of the company’s stock valued at $53,442,000 after buying an additional 126,323 shares during the period. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Sanford C. Bernstein raised Marriott International from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $247.00 to $262.00 in a research report on Thursday, August 29th. Truist Financial reduced their target price on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price target on shares of Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Finally, Barclays upped their price target on Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 17th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Marriott International presently has a consensus rating of “Hold” and an average price target of $248.65.

Marriott International Price Performance

NASDAQ MAR opened at $262.57 on Thursday. The firm’s fifty day moving average price is $237.02 and its 200 day moving average price is $238.19. Marriott International, Inc. has a 12 month low of $180.75 and a 12 month high of $264.14. The company has a market capitalization of $75.00 billion, a price-to-earnings ratio of 27.10, 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 (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.01. The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.26 earnings per share. As a group, sell-side analysts forecast that Marriott International, Inc. will post 9.37 earnings per share for the current year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.96%. Marriott International’s dividend payout ratio (DPR) is presently 26.01%.

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.