Castleark Management LLC lifted its stake in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) by 353.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,910 shares of the company’s stock after purchasing an additional 29,550 shares during the quarter. Castleark Management LLC’s holdings in Marriott International were worth $14,049,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Frederick Financial Consultants LLC raised its holdings in Marriott International by 0.8% in the 4th quarter. Frederick Financial Consultants LLC now owns 3,531 shares of the company’s stock valued at $1,095,000 after buying an additional 28 shares during the last quarter. World Equity Group Inc. increased its position in Marriott International by 2.0% in the 2nd quarter. World Equity Group Inc. now owns 1,437 shares of the company’s stock valued at $533,000 after acquiring an additional 28 shares during the period. Haven Capital Group Inc. raised its stake in shares of Marriott International by 0.3% during the first quarter. Haven Capital Group Inc. now owns 10,064 shares of the company’s stock valued at $3,292,000 after acquiring an additional 30 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Marriott International by 1.2% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,472 shares of the company’s stock worth $808,000 after purchasing an additional 30 shares during the period. Finally, Paragon Private Wealth Management LLC grew its stake in shares of Marriott International by 4.4% in the first quarter. Paragon Private Wealth Management LLC now owns 743 shares of the company’s stock worth $243,000 after purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.
Marriott International Stock Performance
Marriott International stock opened at $357.77 on Wednesday. The stock has a market capitalization of $93.30 billion, a price-to-earnings ratio of 37.07, a PEG ratio of 2.79 and a beta of 1.10. Marriott International, Inc. has a 52-week low of $256.76 and a 52-week high of $410.98. The stock’s 50 day moving average price is $368.87 and its two-hundred day moving average price is $358.62.
Marriott International Announces Dividend
The business 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 dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 20th. Marriott International’s dividend payout ratio is 30.26%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. China Intl Cap raised Marriott International to a “strong-buy” rating in a report on Wednesday, August 12th. BMO Capital Markets lowered their price objective on Marriott International from $410.00 to $395.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. Wells Fargo & Company decreased their target price on shares of Marriott International from $449.00 to $425.00 and set an “overweight” rating for the company in a research report on Tuesday, August 4th. Sanford C. Bernstein set a $412.00 price target on shares of Marriott International in a research report on Monday, June 15th. Finally, Barclays decreased their price objective on shares of Marriott International from $379.00 to $348.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Marriott International has an average rating of “Moderate Buy” and a consensus price target of $385.65.
Check Out Our Latest Report on MAR
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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