Zions Bancorporation National Association UT Invests $79,000 in Marriott International, Inc. (NASDAQ:MAR)

Zions Bancorporation National Association UT acquired a new position in shares of Marriott International, Inc. (NASDAQ:MAR) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 330 shares of the company’s stock, valued at approximately $79,000.

A number of other institutional investors also recently made changes to their positions in the company. Townsquare Capital LLC boosted its stake in shares of Marriott International by 10.5% in the first quarter. Townsquare Capital LLC now owns 15,238 shares of the company’s stock valued at $3,630,000 after buying an additional 1,448 shares during the period. NS Partners Ltd boosted its stake in shares of Marriott International by 0.6% in the first quarter. NS Partners Ltd now owns 158,751 shares of the company’s stock valued at $37,814,000 after buying an additional 968 shares during the period. Savvy Advisors Inc. boosted its stake in shares of Marriott International by 15.3% in the first quarter. Savvy Advisors Inc. now owns 2,553 shares of the company’s stock valued at $608,000 after buying an additional 339 shares during the period. WBH Advisory Inc. boosted its stake in shares of Marriott International by 61.7% in the first quarter. WBH Advisory Inc. now owns 1,342 shares of the company’s stock valued at $320,000 after buying an additional 512 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Marriott International by 13.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 439,252 shares of the company’s stock valued at $104,630,000 after buying an additional 51,215 shares during the period. Institutional investors own 70.70% of the company’s stock.

Marriott International Stock Performance

Shares of NASDAQ MAR opened at $257.97 on Tuesday. Marriott International, Inc. has a fifty-two week low of $205.40 and a fifty-two week high of $307.52. The stock has a market cap of $70.03 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 2.48 and a beta of 1.44. The firm’s 50-day simple moving average is $268.72 and its 200 day simple moving average is $261.13.

Marriott International (NASDAQ:MAR) last announced its earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.65. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.66 billion. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 EPS. On average, sell-side analysts predict that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International declared that its Board of Directors has approved a stock buyback plan on Thursday, August 7th that permits the company to repurchase 25,000,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Marriott International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.67 per share. The ex-dividend date is Thursday, August 21st. This represents a $2.68 annualized dividend and a dividend yield of 1.0%. Marriott International’s dividend payout ratio (DPR) is presently 30.21%.

Insider Activity at Marriott International

In other news, CEO Anthony Capuano sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the completion of the sale, the chief executive officer owned 124,067 shares in the company, valued at $32,741,281.30. This trade represents a 8.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rajeev Menon sold 2,500 shares of Marriott International stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total transaction of $670,700.00. Following the completion of the transaction, the insider owned 5,706 shares of the company’s stock, valued at $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.68% of the company’s stock.

Analyst Upgrades and Downgrades

MAR has been the subject of several recent research reports. Mizuho cut their price target on Marriott International from $293.00 to $285.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Robert W. Baird upped their price target on shares of Marriott International from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Barclays decreased their price objective on Marriott International from $283.00 to $236.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group upgraded Marriott International from a “hold” rating to a “buy” rating and increased their price objective for the company from $226.00 to $303.00 in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. began coverage on shares of Marriott International in a research report on Monday, June 23rd. They set a “neutral” rating and a $284.00 price target on the stock. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $280.89.

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.