Intech Investment Management LLC increased its holdings in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) by 31.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,657 shares of the company’s stock after acquiring an additional 1,839 shares during the period. Intech Investment Management LLC’s holdings in Marriott International were worth $2,376,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc raised its position in shares of Marriott International by 9.3% in the 3rd quarter. Legal & General Group Plc now owns 1,465,420 shares of the company’s stock worth $381,654,000 after acquiring an additional 124,759 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ raised its position in shares of Marriott International by 5.8% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 73,759 shares of the company’s stock worth $19,210,000 after acquiring an additional 4,067 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Marriott International by 12.0% in the 3rd quarter. Natixis Advisors LLC now owns 386,638 shares of the company’s stock worth $100,696,000 after acquiring an additional 41,547 shares in the last quarter. FMB Wealth Management bought a new position in shares of Marriott International in the 4th quarter worth $1,762,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in Marriott International by 48.0% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,154 shares of the company’s stock worth $3,686,000 after buying an additional 4,590 shares during the last quarter. 70.70% of the stock is owned by institutional investors.
Marriott International Price Performance
Shares of Marriott International stock opened at $376.78 on Thursday. The business has a 50 day simple moving average of $356.16 and a two-hundred day simple moving average of $332.11. Marriott International, Inc. has a 12 month low of $253.55 and a 12 month high of $388.37. The stock has a market capitalization of $99.35 billion, a P/E ratio of 39.54, a PEG ratio of 2.97 and a beta of 1.10.
Marriott International Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 22nd will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Marriott International’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, May 22nd. Marriott International’s dividend payout ratio (DPR) is currently 30.64%.
Analysts Set New Price Targets
Several brokerages recently weighed in on MAR. Susquehanna boosted their target price on Marriott International from $280.00 to $385.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Morgan Stanley boosted their target price on Marriott International from $350.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. The Goldman Sachs Group boosted their target price on Marriott International from $355.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Sanford C. Bernstein boosted their target price on Marriott International from $400.00 to $402.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, Mizuho boosted their target price on Marriott International from $343.00 to $384.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $382.07.
Check Out Our Latest Stock Analysis on MAR
Insider Activity
In other news, EVP Peggy Roe sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $361.56, for a total value of $1,084,680.00. Following the completion of the sale, the executive vice president directly owned 19,827 shares in the company, valued at $7,168,650.12. This represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.43% of the stock is owned by company insiders.
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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