Fifth Third Bancorp lifted its stake in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) by 4.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 98,531 shares of the company’s stock after acquiring an additional 4,615 shares during the quarter. Fifth Third Bancorp’s holdings in Marriott International were worth $25,661,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of MAR. Lazari Capital Management Inc. lifted its position in Marriott International by 1.6% in the third quarter. Lazari Capital Management Inc. now owns 2,356 shares of the company’s stock valued at $614,000 after acquiring an additional 37 shares during the last quarter. L2 Asset Management LLC increased its position in shares of Marriott International by 4.0% during the second quarter. L2 Asset Management LLC now owns 996 shares of the company’s stock worth $272,000 after purchasing an additional 38 shares in the last quarter. AE Wealth Management LLC boosted its position in shares of Marriott International by 2.5% in the 2nd quarter. AE Wealth Management LLC now owns 1,622 shares of the company’s stock valued at $443,000 after purchasing an additional 40 shares during the period. HBK Sorce Advisory LLC grew its stake in Marriott International by 1.2% during the 3rd quarter. HBK Sorce Advisory LLC now owns 3,512 shares of the company’s stock worth $935,000 after buying an additional 40 shares during the last quarter. Finally, Connable Office Inc. increased its position in Marriott International by 0.3% during the second quarter. Connable Office Inc. now owns 11,766 shares of the company’s stock worth $3,215,000 after buying an additional 41 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.
Marriott International Stock Down 0.3%
Shares of NASDAQ:MAR opened at $353.89 on Tuesday. The company has a market capitalization of $93.77 billion, a P/E ratio of 37.29, a P/E/G ratio of 3.07 and a beta of 1.13. Marriott International, Inc. has a 52-week low of $205.40 and a 52-week high of $370.00. The stock’s fifty day simple moving average is $319.59 and its 200-day simple moving average is $289.08.
Marriott International Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, February 26th will be issued a $0.67 dividend. The ex-dividend date is Thursday, February 26th. This represents a $2.68 annualized dividend and a yield of 0.8%. Marriott International’s payout ratio is 28.24%.
Insider Buying and Selling at Marriott International
In related news, CAO Felitia Lee sold 1,617 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $305.98, for a total value of $494,769.66. Following the completion of the transaction, the chief accounting officer directly owned 4,893 shares in the company, valued at approximately $1,497,160.14. This represents a 24.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.68% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on MAR shares. Morgan Stanley raised their target price on shares of Marriott International from $296.00 to $328.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. The Goldman Sachs Group lifted their price objective on shares of Marriott International from $355.00 to $398.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Robert W. Baird decreased their target price on shares of Marriott International from $287.00 to $285.00 and set a “neutral” rating for the company in a research note on Tuesday, October 21st. BMO Capital Markets upgraded Marriott International from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $285.00 to $370.00 in a research report on Friday, January 9th. Finally, Jefferies Financial Group increased their price objective on Marriott International from $357.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $343.27.
Check Out Our Latest Stock Report 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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