Advisor Resource Council bought a new position in Marriott International, Inc. (NASDAQ:MAR – Free Report) in the first quarter, HoldingsChannel.com reports. The fund bought 901 shares of the company’s stock, valued at approximately $215,000.
A number of other institutional investors also recently modified their holdings of the stock. FMR LLC raised its stake in shares of Marriott International by 0.8% in the fourth quarter. FMR LLC now owns 6,973,897 shares of the company’s stock worth $1,945,299,000 after acquiring an additional 56,978 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Marriott International by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 5,026,529 shares of the company’s stock valued at $1,398,321,000 after acquiring an additional 60,458 shares during the last quarter. Capital International Investors boosted its holdings in Marriott International by 0.3% in the fourth quarter. Capital International Investors now owns 4,720,306 shares of the company’s stock valued at $1,316,682,000 after acquiring an additional 15,923 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Marriott International by 50.8% in the fourth quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company’s stock valued at $1,300,168,000 after acquiring an additional 1,570,144 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Marriott International by 17.4% in the fourth quarter. Invesco Ltd. now owns 3,469,070 shares of the company’s stock valued at $967,662,000 after acquiring an additional 512,963 shares during the last quarter. 70.70% of the stock is owned by institutional investors.
Insider Transactions at Marriott International
In other news, CEO Anthony Capuano sold 12,000 shares of Marriott International stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $263.90, for a total value of $3,166,800.00. Following the completion of the transaction, the chief executive officer now owns 124,067 shares of the company’s stock, valued at $32,741,281.30. This trade represents a 8.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the completion of the transaction, the executive vice president now directly owns 20,724 shares of the company’s stock, valued at approximately $5,599,832.04. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.68% of the company’s stock.
Marriott International Trading Up 1.5%
Marriott International (NASDAQ:MAR – Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.07. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $2.13 EPS. On average, equities research analysts predict that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.
Marriott International Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.67 per share. This is a boost from Marriott International’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, May 23rd. Marriott International’s dividend payout ratio (DPR) is currently 30.52%.
Wall Street Analysts Forecast Growth
MAR has been the topic of several recent research reports. Stifel Nicolaus decreased their price target on Marriott International from $295.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. started coverage on shares of Marriott International in a research report on Monday. They set a “neutral” rating and a $284.00 target price for the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $245.00 target price (down previously from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Dbs Bank upgraded Marriott International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 14th. Finally, Truist Financial decreased their target price on Marriott International from $300.00 to $273.00 and set a “hold” rating for the company in a research report on Friday, May 30th. Thirteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.90.
View Our Latest Stock Report on Marriott International
Marriott International Company Profile
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.
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