Caisse de depot et placement du Quebec acquired a new position in Marriott International, Inc. (NASDAQ:MAR – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 43,675 shares of the company’s stock, valued at approximately $16,186,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Evelyn Partners Investment Management Services Ltd acquired a new position in Marriott International during the first quarter worth $25,000. Wilkerson Advisory Group LLC grew its stake in shares of Marriott International by 127.0% in the first quarter. Wilkerson Advisory Group LLC now owns 84 shares of the company’s stock valued at $27,000 after buying an additional 47 shares in the last quarter. IMG Wealth Management Inc. raised its holdings in shares of Marriott International by 100.0% in the 1st quarter. IMG Wealth Management Inc. now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 41 shares during the period. Kemnay Advisory Services Inc. acquired a new position in Marriott International during the 4th quarter worth about $27,000. Finally, McMillan Office Inc. purchased a new position in Marriott International during the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 70.70% of the company’s stock.
Marriott International Trading Down 0.8%
Shares of NASDAQ:MAR opened at $351.08 on Friday. Marriott International, Inc. has a 52 week low of $256.76 and a 52 week high of $410.98. The company’s 50 day moving average is $366.40 and its two-hundred day moving average is $358.94. The company has a market cap of $91.55 billion, a PE ratio of 36.38, a P/E/G ratio of 2.75 and a beta of 1.10.
Marriott International Announces Dividend
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 issued a $0.73 dividend. The ex-dividend date is Thursday, August 20th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 0.8%. Marriott International’s dividend payout ratio is presently 30.26%.
Analyst Ratings Changes
A number of brokerages have issued reports on MAR. Wells Fargo & Company cut their price target on shares of Marriott International from $449.00 to $425.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. China Intl Cap raised shares of Marriott International to a “strong-buy” rating in a research note on Wednesday, August 12th. CICC Research assumed coverage on shares of Marriott International in a report on Wednesday, August 12th. They set an “outperform” rating on the stock. Erste Group Bank started coverage on shares of Marriott International in a research note on Thursday. They issued a “buy” rating for the company. Finally, Robert W. Baird reduced their price objective on Marriott International from $394.00 to $393.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $385.65.
View Our Latest Analysis 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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