Foundations Investment Advisors LLC boosted its stake in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) by 247.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,129 shares of the company’s stock after purchasing an additional 10,064 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Marriott International were worth $4,383,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. National Pension Service raised its position in shares of Marriott International by 1.6% during the 3rd quarter. National Pension Service now owns 603,431 shares of the company’s stock worth $157,158,000 after purchasing an additional 9,530 shares during the last quarter. Legal & General Group Plc raised its holdings in Marriott International by 9.3% in the third quarter. Legal & General Group Plc now owns 1,465,420 shares of the company’s stock valued at $381,654,000 after buying an additional 124,759 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of Marriott International in the 3rd quarter valued at $858,000. Lansforsakringar Fondforvaltning AB publ increased its holdings in Marriott International by 5.8% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 73,759 shares of the company’s stock valued at $19,210,000 after purchasing an additional 4,067 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in shares of Marriott International by 12.0% in the third quarter. Natixis Advisors LLC now owns 386,638 shares of the company’s stock worth $100,696,000 after buying an additional 41,547 shares during the period. Hedge funds and other institutional investors own 70.70% of the company’s stock.
Marriott International Stock Down 2.6%
Shares of Marriott International stock opened at $375.60 on Friday. Marriott International, Inc. has a 12-month low of $253.55 and a 12-month high of $388.37. The stock has a market capitalization of $99.04 billion, a P/E ratio of 39.41, a price-to-earnings-growth ratio of 3.06 and a beta of 1.11. The company has a 50-day simple moving average of $353.03 and a 200 day simple moving average of $330.03.
Marriott International Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 22nd will be paid a $0.73 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This is an increase from Marriott International’s previous quarterly dividend of $0.67. This represents a $2.92 dividend on an annualized basis and a yield of 0.8%. Marriott International’s payout ratio is presently 30.64%.
Insider Buying and Selling
In other news, EVP Peggy Roe sold 3,000 shares of the stock in a transaction dated 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. This represents a 13.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 11.43% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently commented on MAR shares. Morgan Stanley increased their price target on Marriott International from $350.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Sanford C. Bernstein upped their price target on shares of Marriott International from $400.00 to $402.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Weiss Ratings restated a “buy (b)” rating on shares of Marriott International in a report on Monday, May 11th. Wells Fargo & Company raised their target price on Marriott International to $446.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Truist Financial raised their price target on shares of Marriott International from $350.00 to $356.00 and gave the company a “hold” rating in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $382.07.
View Our Latest Stock Analysis 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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