Atomi Financial Group Inc. Reduces Marriott International Stock Position

Atomi Financial Group Inc. has decreased its investment in Marriott International, Inc. (NASDAQ:MAR) by 18.3% during the third quarter of the year, as reported in its latest filing with the Securities and Exchange Commission. Following the sale of 397 shares, Atomi now holds 1,769 shares of Marriott, valued at $440,000.

Other institutional investors have also made significant changes to their positions in Marriott recently. Global Assets Advisory LLC established a new position in the first quarter, acquiring shares worth around $153.7 million. Meanwhile, Healthcare of Ontario Pension Plan Trust Fund saw an astonishing increase in its stake, raising it by 36,856.7% in the second quarter, now owning 241,327 shares valued at $58.3 million after a substantial buy of 240,674 shares.

Additionally, JPMorgan Chase & Co. raised its stake by 1.8% in the first quarter by purchasing an extra 192,652 shares, bringing their total to over 10.6 million, worth nearly $2.68 billion. Capital International Investors has also increased its investment in Marriott by 4.7%, now owning 3.3 million shares valued at approximately $831.8 million after adding 149,378 shares. Finally, AXA S.A. grew its stake by 133.4% during the second quarter, owning 221,045 shares worth $53.4 million after an addition of 126,323 shares. Notably, 70.70% of Marriott's shares are now in the hands of institutional investors.

Recent Analyst Ratings

Several brokerage firms have recently provided updates on Marriott's stock. Deutsche Bank Aktiengesellschaft adjusted its target price from $222.00 to $216.00, maintaining a "hold" rating for the company. Truist Financial set a new price target of $254.00, down from $263.00, also keeping a "hold" rating. In contrast, JPMorgan Chase raised its target price from $235.00 to $255.00, assigning a "neutral" rating. Wells Fargo reduced its target price from $248.00 to $238.00, recommending an "equal weight" rating. Conversely, Sanford C. Bernstein upgraded Marriott’s rating from “market perform” to “outperform,” increasing its target from $247.00 to $262.00. Overall, twelve analysts have rated Marriott with a hold stance, while five provided buy ratings, resulting in a consensus rating of "Hold" and a target price average of $248.65.

Recent Stock Performance

As of the latest trading session, Marriott stock opened at $262.63. Over the past year, the stock has reached a low of $180.75 and a high of $264.14. The moving averages for 50 days and 200 days stand at $234.15 and $238.11, respectively. Marriott International has a market capitalization of $73.94 billion, with a P/E ratio of 26.26 and a P/E/G ratio of 6.15, indicating moderate growth potential in relation to its price. The stock has a beta of 1.59, suggesting higher volatility compared to the market.

Marriott International released its latest earnings report on July 31, where it reported earnings of $2.50 per share, slightly surpassing analysts' expectations of $2.49. The company's revenue for the quarter was $6.44 billion, falling short of the anticipated $6.47 billion. Moreover, Marriott recorded a negative return on equity of 239.60% and a net margin of 12.01%, while revenue increased by 6.0% compared to the same quarter last year.

Dividend Information

The company announced a quarterly dividend payment that was distributed on September 30. The dividend of $0.63 was granted to shareholders on record as of August 16, with the ex-dividend date also falling on August 16. This dividend translates to an annualized total of $2.52, providing a yield of 0.96%. Currently, Marriott’s dividend payout ratio stands at 25.20%.

About Marriott International

Marriott International, Inc. engages in the operation, franchising, and licensing of various lodging properties globally. This includes a range of hotels and resorts operating under well-known brands such as JW Marriott, The Ritz-Carlton, Marriott Hotels, and Sheraton, among others.

Marriott, Stocks, Investors