The Manufacturers Life Insurance Company reduced its position in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) by 8.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,483 shares of the company’s stock after selling 11,079 shares during the period. The Manufacturers Life Insurance Company’s holdings in Marriott International were worth $38,425,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Marriott International in the fourth quarter valued at about $812,570,000. FMB Wealth Management bought a new position in Marriott International in the 4th quarter valued at about $1,762,000. Jefferies Financial Group Inc. lifted its position in Marriott International by 183.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 56,180 shares of the company’s stock worth $17,429,000 after acquiring an additional 36,380 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Marriott International by 130.8% during the fourth quarter. World Investment Advisors now owns 16,014 shares of the company’s stock worth $4,968,000 after acquiring an additional 9,075 shares during the period. Finally, Caprock Group LLC grew its position in shares of Marriott International by 21.9% in the fourth quarter. Caprock Group LLC now owns 16,806 shares of the company’s stock valued at $5,214,000 after purchasing an additional 3,023 shares during the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.
Marriott International Stock Down 1.5%
MAR stock opened at $375.48 on Friday. Marriott International, Inc. has a 52 week low of $253.76 and a 52 week high of $410.98. The business has a 50-day simple moving average of $379.44 and a 200 day simple moving average of $354.06. The company has a market cap of $99.01 billion, a PE ratio of 39.40, a price-to-earnings-growth ratio of 2.98 and a beta of 1.11.
Marriott International Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 22nd were given a dividend of $0.73 per share. The ex-dividend date was 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 (DPR) is 30.64%.
Insider Transactions at Marriott International
In other Marriott International news, EVP Peggy Roe sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $361.56, for a total transaction of $1,084,680.00. Following the completion of the transaction, the executive vice president directly owned 19,827 shares in the company, valued at $7,168,650.12. The trade was a 13.14% decrease in their ownership of the stock. The sale 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.
Wall Street Analysts Forecast Growth
MAR has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price objective on Marriott International from $387.00 to $400.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Susquehanna upped their price target on shares of Marriott International from $280.00 to $385.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Sanford C. Bernstein set a $412.00 price objective on shares of Marriott International in a research note on Monday, June 15th. Wells Fargo & Company increased their target price on shares of Marriott International from $446.00 to $449.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Marriott International in a report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $388.59.
Get Our Latest Research Report on Marriott International
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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