Swiss National Bank trimmed its holdings in Marriott International, Inc. (NASDAQ:MAR – Free Report) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 671,038 shares of the company’s stock after selling 37,500 shares during the quarter. Swiss National Bank owned about 0.25% of Marriott International worth $174,765,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. WINTON GROUP Ltd purchased a new stake in Marriott International during the third quarter valued at $1,667,000. Russell Investments Group Ltd. raised its position in Marriott International by 8.0% in the third quarter. Russell Investments Group Ltd. now owns 209,697 shares of the company’s stock worth $54,661,000 after acquiring an additional 15,483 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Marriott International during the 3rd quarter worth $5,157,000. B. Metzler seel. Sohn & Co. AG grew its position in shares of Marriott International by 6.0% during the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 8,208 shares of the company’s stock valued at $2,138,000 after acquiring an additional 463 shares during the period. Finally, Rathbones Group PLC purchased a new stake in shares of Marriott International in the 3rd quarter worth $243,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.
Marriott International Stock Up 1.6%
NASDAQ MAR opened at $328.86 on Tuesday. Marriott International, Inc. has a twelve month low of $205.40 and a twelve month high of $370.00. The business has a 50-day moving average price of $330.23 and a 200-day moving average price of $297.44. The firm has a market cap of $87.14 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.86 and a beta of 1.09.
Marriott International Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, February 26th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, February 26th. Marriott International’s payout ratio is 28.24%.
Insider Activity
In other news, insider David S. Marriott sold 4,747 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $360.00, for a total transaction of $1,708,920.00. Following the completion of the transaction, the insider owned 591,669 shares in the company, valued at $213,000,840. This trade represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William P. Brown sold 9,456 shares of Marriott International stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $358.25, for a total value of $3,387,612.00. Following the completion of the sale, the insider directly owned 11,000 shares in the company, valued at $3,940,750. This trade represents a 46.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 97,157 shares of company stock valued at $34,768,825 in the last quarter. Company insiders own 10.68% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently weighed in on MAR. Truist Financial lifted their target price on Marriott International from $283.00 to $350.00 and gave the company a “hold” rating in a research report on Wednesday, February 11th. The Goldman Sachs Group raised their price objective on Marriott International from $355.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. BMO Capital Markets raised Marriott International from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $285.00 to $370.00 in a research report on Friday, January 9th. Jefferies Financial Group increased their target price on shares of Marriott International from $357.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Wells Fargo & Company raised their target price on shares of Marriott International from $353.00 to $403.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $343.27.
Check Out Our Latest Stock Analysis on MAR
About Marriott International
Marriott International is a global lodging company that develops, manages and franchises a broad portfolio of hotels and related lodging facilities. Its core activities include hotel and resort management, franchise operations, property development and the provision of centralized services such as reservations, marketing and loyalty program management. The company’s brand architecture spans market segments from luxury and premium to select-service and extended-stay, enabling it to serve a wide range of business and leisure travelers as well as corporate and group customers.
The company traces its roots to the hospitality business founded by J.
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