North Star Asset Management Inc. purchased a new stake in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 14,933 shares of the company’s stock, valued at approximately $5,534,000.
A number of other institutional investors and hedge funds have also modified their holdings of MAR. Invesco Ltd. increased its position in shares of Marriott International by 2.7% in the fourth quarter. Invesco Ltd. now owns 4,440,359 shares of the company’s stock valued at $1,377,577,000 after buying an additional 118,504 shares in the last quarter. Capital International Investors raised its stake in shares of Marriott International by 7.1% during the 4th quarter. Capital International Investors now owns 4,107,531 shares of the company’s stock worth $1,274,475,000 after buying an additional 272,250 shares during the last quarter. Norges Bank purchased a new stake in shares of Marriott International in the 4th quarter worth about $812,570,000. Price T Rowe Associates Inc. MD grew its stake in Marriott International by 13.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,879,028 shares of the company’s stock valued at $582,952,000 after acquiring an additional 219,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Marriott International by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,619,423 shares of the company’s stock valued at $502,410,000 after acquiring an additional 19,387 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.
Marriott International Price Performance
Shares of NASDAQ MAR opened at $353.87 on Friday. The company has a 50-day simple moving average of $367.30 and a 200-day simple moving average of $358.99. The company has a market cap of $92.28 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 2.78 and a beta of 1.10. Marriott International, Inc. has a 12 month low of $256.76 and a 12 month high of $410.98.
Marriott International Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, August 20th will be given a $0.73 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 0.8%. Marriott International’s payout ratio is currently 30.26%.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Marriott International from $353.00 to $380.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Wells Fargo & Company cut their price objective on Marriott International from $449.00 to $425.00 and set an “overweight” rating for the company in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Marriott International in a research note on Friday, August 7th. JPMorgan Chase & Co. raised their price target on Marriott International from $387.00 to $400.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Finally, Mizuho cut their price target on Marriott International from $384.00 to $374.00 and set a “neutral” rating for the company in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Marriott International currently has an average rating of “Moderate Buy” and an average price target of $385.65.
View Our Latest Research Report 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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