Louisiana State Employees Retirement System acquired a new position in Marriott International, Inc. (NASDAQ:MAR – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 28,600 shares of the company’s stock, valued at approximately $9,354,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Frederick Financial Consultants LLC lifted its position in Marriott International by 0.8% in the 4th quarter. Frederick Financial Consultants LLC now owns 3,531 shares of the company’s stock worth $1,095,000 after buying an additional 28 shares during the last quarter. Transamerica Financial Advisors LLC grew its holdings in Marriott International by 34.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 120 shares of the company’s stock worth $37,000 after acquiring an additional 31 shares during the last quarter. Optimize Financial Inc raised its position in Marriott International by 1.4% during the 4th quarter. Optimize Financial Inc now owns 2,284 shares of the company’s stock valued at $709,000 after purchasing an additional 32 shares during the last quarter. Bridges Investment Management Inc. raised its holdings in shares of Marriott International by 1.0% during the fourth quarter. Bridges Investment Management Inc. now owns 3,277 shares of the company’s stock valued at $1,017,000 after acquiring an additional 32 shares in the last quarter. Finally, Riversedge Advisors LLC raised its holdings in Marriott International by 3.0% in the 4th quarter. Riversedge Advisors LLC now owns 1,149 shares of the company’s stock worth $357,000 after purchasing an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.
Marriott International Price Performance
Marriott International stock opened at $378.91 on Friday. Marriott International, Inc. has a 1 year low of $253.76 and a 1 year high of $410.98. The firm’s 50 day moving average price is $373.76 and its 200-day moving average price is $342.94. The stock has a market cap of $99.91 billion, a P/E ratio of 39.76, a PEG ratio of 3.05 and a beta of 1.10.
Marriott International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 22nd will be given a dividend of $0.73 per share. The ex-dividend date is Friday, May 22nd. This represents a $2.92 annualized dividend and a dividend yield of 0.8%. This is a positive change from Marriott International’s previous quarterly dividend of $0.67. Marriott International’s dividend payout ratio is currently 30.64%.
Insider Activity at Marriott International
In related news, EVP Peggy Roe sold 3,000 shares of Marriott International stock in a transaction dated 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 transaction, the executive vice president owned 19,827 shares in the company, valued at approximately $7,168,650.12. This trade represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 11.43% of the company’s stock.
Analyst Upgrades and Downgrades
MAR has been the subject of several research reports. UBS Group increased their target price on Marriott International from $336.00 to $412.00 and gave the stock a “neutral” rating in a research report on Monday, June 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Marriott International in a research report on Monday, May 11th. Wells Fargo & Company lifted their target price on Marriott International to $446.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Mizuho increased their price objective on shares of Marriott International from $343.00 to $384.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Sanford C. Bernstein set a $412.00 target price on Marriott International in a research report on Monday, June 15th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $384.73.
Marriott International Company Profile
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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