F m Investments LLC cut its stake in Marriott International, Inc. (NASDAQ:MAR – Free Report) by 33.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,982 shares of the company’s stock after selling 20,332 shares during the quarter. F m Investments LLC’s holdings in Marriott International were worth $10,923,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new position in Marriott International in the second quarter valued at about $613,000. Nissay Asset Management Corp Japan ADV raised its position in shares of Marriott International by 9.5% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 62,995 shares of the company’s stock valued at $15,005,000 after purchasing an additional 5,482 shares in the last quarter. Permanens Capital L.P. boosted its stake in shares of Marriott International by 15.6% during the 1st quarter. Permanens Capital L.P. now owns 15,396 shares of the company’s stock valued at $3,667,000 after buying an additional 2,076 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Marriott International by 3.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 219,939 shares of the company’s stock worth $52,389,000 after buying an additional 8,149 shares during the last quarter. Finally, Swedbank AB boosted its stake in Marriott International by 1.3% during the 1st quarter. Swedbank AB now owns 68,429 shares of the company’s stock valued at $16,300,000 after acquiring an additional 881 shares during the last quarter. 70.70% of the stock is currently owned by hedge funds and other institutional investors.
Marriott International Price Performance
Shares of Marriott International stock opened at $304.65 on Friday. The business’s fifty day moving average price is $273.93 and its two-hundred day moving average price is $269.82. The company has a market capitalization of $81.75 billion, a P/E ratio of 32.17, a PEG ratio of 2.94 and a beta of 1.36. Marriott International, Inc. has a 1-year low of $205.40 and a 1-year high of $307.52.
Marriott International Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Thursday, November 20th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 20th. Marriott International’s payout ratio is presently 28.30%.
Marriott International announced that its board has initiated a share buyback plan on Thursday, August 7th that permits the company to buyback 25,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Analyst Ratings Changes
MAR has been the subject of several research analyst reports. Truist Financial boosted their target price on shares of Marriott International from $273.00 to $278.00 and gave the stock a “hold” rating in a research report on Wednesday, September 3rd. Robert W. Baird lowered their price objective on Marriott International from $287.00 to $285.00 and set a “neutral” rating for the company in a report on Tuesday, October 21st. Wells Fargo & Company assumed coverage on Marriott International in a report on Tuesday, November 18th. They set an “overweight” rating and a $329.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Marriott International in a report on Wednesday, October 8th. Finally, Morgan Stanley reduced their price objective on Marriott International from $302.00 to $296.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Marriott International has a consensus rating of “Moderate Buy” and a consensus target price of $289.87.
Read Our Latest Stock Analysis on Marriott International
Insider Transactions at Marriott International
In other Marriott International news, EVP Rena Hozore Reiss sold 5,483 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $287.11, for a total value of $1,574,224.13. Following the completion of the sale, the executive vice president directly owned 39,360 shares of the company’s stock, valued at approximately $11,300,649.60. This represents a 12.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Deborah Marriott Harrison sold 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $291.63, for a total transaction of $20,414,100.00. Following the sale, the insider owned 175,210 shares of the company’s stock, valued at $51,096,492.30. The trade was a 28.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 86,672 shares of company stock valued at $25,174,655 in the last quarter. 10.68% of the stock is owned by company insiders.
About Marriott International
Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.
Further Reading
- Five stocks we like better than Marriott International
- What Are the FAANG Stocks and Are They Good Investments?
- How Semtech’s Data Center Chips Are Powering the AI Boom
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- Keysight Technologies’ Surge: The Market Wakes Up to This AI Play
- What is a buyback in stocks? A comprehensive guide for investors
- Is American Express the Credit Stock For a K-Shaped Economy?
Receive News & Ratings for Marriott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marriott International and related companies with MarketBeat.com's FREE daily email newsletter.
