Invesco Ltd. lessened its holdings in Marriott International, Inc. (NASDAQ:MAR – Free Report) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,321,855 shares of the company’s stock after selling 8,801 shares during the period. Invesco Ltd.’s holdings in Marriott International were worth $1,125,584,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Employees Retirement System of Texas increased its holdings in Marriott International by 98.9% in the 3rd quarter. Employees Retirement System of Texas now owns 3,801 shares of the company’s stock valued at $990,000 after purchasing an additional 1,890 shares in the last quarter. Sei Investments Co. boosted its position in shares of Marriott International by 3.3% in the third quarter. Sei Investments Co. now owns 141,837 shares of the company’s stock worth $36,937,000 after buying an additional 4,508 shares during the period. BOKF NA grew its stake in shares of Marriott International by 58.8% in the third quarter. BOKF NA now owns 2,083 shares of the company’s stock valued at $542,000 after buying an additional 771 shares in the last quarter. SevenBridge Financial Group LLC raised its holdings in shares of Marriott International by 35.2% during the 3rd quarter. SevenBridge Financial Group LLC now owns 10,631 shares of the company’s stock valued at $2,769,000 after buying an additional 2,765 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Marriott International by 3.2% in the 3rd quarter. Mackenzie Financial Corp now owns 25,079 shares of the company’s stock worth $6,532,000 after acquiring an additional 782 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.
Marriott International Trading Down 3.1%
MAR stock opened at $316.31 on Friday. The company has a market capitalization of $83.82 billion, a P/E ratio of 33.33, a PEG ratio of 2.88 and a beta of 1.09. The firm has a 50 day simple moving average of $330.92 and a 200-day simple moving average of $298.13. Marriott International, Inc. has a twelve month low of $205.40 and a twelve month high of $370.00.
Marriott International Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, February 26th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, February 26th. Marriott International’s dividend payout ratio (DPR) is 28.24%.
Insider Transactions at Marriott International
In other Marriott International news, EVP Drew Pinto sold 4,000 shares of Marriott International stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $359.81, for a total value of $1,439,240.00. Following the completion of the transaction, the executive vice president owned 8,221 shares of the company’s stock, valued at $2,957,998.01. The trade was a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Benjamin T. Breland sold 2,000 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $358.03, for a total transaction of $716,060.00. Following the sale, the executive vice president directly owned 26,399 shares in the company, valued at $9,451,633.97. This trade represents a 7.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 97,157 shares of company stock valued at $34,768,825 over the last 90 days. Corporate insiders own 10.68% of the company’s stock.
Analysts Set New Price Targets
MAR has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Marriott International in a research note on Thursday, January 22nd. Truist Financial raised their price target on shares of Marriott International from $283.00 to $350.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. Sanford C. Bernstein boosted their price objective on shares of Marriott International from $329.00 to $369.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Wells Fargo & Company upped their price objective on shares of Marriott International from $353.00 to $403.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Finally, Citigroup lifted their target price on Marriott International from $285.00 to $345.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $343.47.
Read 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.
Featured Articles
- Five stocks we like better than Marriott International
- The gold chart Wall Street is terrified of…
- Elon Musk already made me a “wealthy man”
- Unlocked: Elon Musk’s Next Big IPO
- Silver paying 20% dividend. Plus 68% share gains
- 1,500 Banks Just Handed the Fed Your Bank Account
Want to see what other hedge funds are holding MAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marriott International, Inc. (NASDAQ:MAR – Free Report).
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.
