Parnassus Investments LLC Reduces Position in Marriott International, Inc. (NASDAQ:MAR)

Parnassus Investments LLC lessened its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,203,229 shares of the company’s stock after selling 147,151 shares during the period. Parnassus Investments LLC owned about 0.79% of Marriott International worth $614,569,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Hopwood Financial Services Inc. purchased a new stake in shares of Marriott International in the fourth quarter valued at approximately $25,000. Bell Investment Advisors Inc boosted its holdings in shares of Marriott International by 112.2% in the fourth quarter. Bell Investment Advisors Inc now owns 104 shares of the company’s stock valued at $29,000 after purchasing an additional 55 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Marriott International by 494.4% in the fourth quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock valued at $30,000 after purchasing an additional 89 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Marriott International in the third quarter valued at approximately $33,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Marriott International in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MAR has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Marriott International from $251.00 to $269.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Morgan Stanley boosted their price objective on shares of Marriott International from $289.00 to $298.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Stifel Nicolaus boosted their price objective on shares of Marriott International from $252.00 to $283.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group boosted their price objective on shares of Marriott International from $280.00 to $314.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company reduced 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 research note on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $286.45.

Marriott International Trading Down 2.7 %

Shares of MAR opened at $237.29 on Friday. The firm has a market cap of $65.42 billion, a PE ratio of 28.52, a P/E/G ratio of 3.42 and a beta of 1.58. The stock has a fifty day moving average price of $279.01 and a 200-day moving average price of $269.24. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52.

Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. As a group, research analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be paid a $0.63 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.52 dividend on an annualized basis and a yield of 1.06%. Marriott International’s dividend payout ratio (DPR) is 30.29%.

Insider Buying and Selling

In other Marriott International news, EVP Rena Hozore Reiss sold 3,500 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the sale, the executive vice president now directly owns 24,733 shares of the company’s stock, valued at approximately $7,089,714.45. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 1,054 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $277.48, for a total value of $292,463.92. Following the sale, the director now directly owns 4,551 shares in the company, valued at $1,262,811.48. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,694 shares of company stock worth $8,938,132 in the last 90 days. Insiders own 12.32% of the company’s stock.

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.