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

Parnassus Investments LLC decreased its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,350,380 shares of the company's stock after selling 51,886 shares during the period. Parnassus Investments LLC owned about 0.83% of Marriott International worth $584,304,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Bangor Savings Bank increased its holdings in Marriott International by 131.1% during the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company's stock valued at $25,000 after purchasing an additional 59 shares during the period. Hantz Financial Services Inc. purchased a new position in Marriott International during the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC purchased a new position in Marriott International during the 2nd quarter valued at about $28,000. Silvant Capital Management LLC purchased a new position in Marriott International during the 3rd quarter valued at about $31,000. Finally, Unique Wealth Strategies LLC purchased a new position in shares of Marriott International during the 2nd quarter worth approximately $35,000. Institutional investors own 70.70% of the company's stock.

Insiders Place Their Bets

In other Marriott International news, CEO Anthony Capuano sold 8,332 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total value of $2,370,370.68. Following the sale, the chief executive officer now owns 108,361 shares in the company, valued at $30,827,620.89. The trade was a 7.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen K. Oberg sold 2,360 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $285.41, for a total value of $673,567.60. Following the completion of the sale, the chief financial officer now owns 39,726 shares in the company, valued at $11,338,197.66. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,108 shares of company stock worth $3,434,439. Corporate insiders own 10.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Marriott International in a report on Wednesday, September 18th. They set a "buy" rating and a $267.00 target price on the stock. Macquarie reiterated a "neutral" rating and set a $245.00 target price on shares of Marriott International in a report on Tuesday, November 5th. Morgan Stanley dropped their price target on Marriott International from $268.00 to $250.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 6th. Mizuho boosted their price target on Marriott International from $233.00 to $246.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Finally, Bank of America boosted their price target on Marriott International from $275.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Marriott International has an average rating of "Hold" and an average target price of $259.00.

Marriott International Price Performance

Shares of NASDAQ:MAR traded down $2.18 during midday trading on Tuesday, hitting $279.27. The company had a trading volume of 889,968 shares, compared to its average volume of 1,473,001. The company has a market cap of $77.61 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 5.48 and a beta of 1.58. Marriott International, Inc. has a 12-month low of $200.94 and a 12-month high of $289.04. The company has a fifty day moving average of $257.65 and a two-hundred day moving average of $242.15.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.05). The company had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $2.11 earnings per share. Research analysts expect that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be paid a $0.63 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a yield of 0.90%. Marriott International's payout ratio is presently 26.36%.

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.