Fideuram Asset Management Ireland dac acquired a new position in Marriott International, Inc. (NASDAQ:MAR – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,235 shares of the company’s stock, valued at approximately $1,004,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Marriott International by 1.1% in the third quarter. Vanguard Group Inc. now owns 20,774,015 shares of the company’s stock worth $5,410,384,000 after buying an additional 230,820 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Marriott International by 21.7% in the third quarter. Wellington Management Group LLP now owns 9,175,377 shares of the company’s stock worth $2,389,635,000 after buying an additional 1,637,119 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Marriott International by 9.3% in the third quarter. Legal & General Group Plc now owns 1,465,420 shares of the company’s stock worth $381,654,000 after buying an additional 124,759 shares during the last quarter. Fayez Sarofim & Co boosted its holdings in shares of Marriott International by 0.5% in the third quarter. Fayez Sarofim & Co now owns 971,981 shares of the company’s stock worth $256,359,000 after buying an additional 4,534 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Marriott International by 26.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 846,740 shares of the company’s stock worth $220,525,000 after buying an additional 175,637 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.
Marriott International Trading Down 2.6%
NASDAQ MAR 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 cap of $99.04 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 2.98 and a beta of 1.11. The company’s 50 day moving average is $353.03 and its two-hundred day moving average is $330.03.
Marriott International Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.73 per share. This is an increase from Marriott International’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.92 dividend on an annualized basis and a yield of 0.8%. Marriott International’s payout ratio is 30.64%.
Insider Transactions at Marriott International
In other Marriott International news, EVP Peggy Roe sold 3,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 19,827 shares of the company’s stock, valued at $7,168,650.12. This trade represents a 13.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.43% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
MAR has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on shares of Marriott International to $446.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Robert W. Baird decreased their target price on shares of Marriott International from $388.00 to $386.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Mizuho raised their target price on shares of Marriott International from $343.00 to $384.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Sanford C. Bernstein raised their target price 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Marriott International in a research note on Monday, May 11th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $382.07.
View Our Latest Report on Marriott International
About Marriott International
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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