KLP Kapitalforvaltning AS Takes $23.28 Million Position in Marriott International, Inc. (NASDAQ:MAR)

KLP Kapitalforvaltning AS acquired a new stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 83,463 shares of the company's stock, valued at approximately $23,281,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC raised its position in shares of Marriott International by 10.8% during the 3rd quarter. Larson Financial Group LLC now owns 379 shares of the company's stock worth $94,000 after purchasing an additional 37 shares during the period. TFG Advisers LLC lifted its stake in Marriott International by 0.8% in the fourth quarter. TFG Advisers LLC now owns 4,426 shares of the company's stock valued at $1,235,000 after buying an additional 37 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Marriott International by 1.2% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,290 shares of the company's stock worth $918,000 after acquiring an additional 38 shares during the last quarter. Evermay Wealth Management LLC lifted its position in Marriott International by 1.1% in the 4th quarter. Evermay Wealth Management LLC now owns 3,415 shares of the company's stock valued at $953,000 after purchasing an additional 38 shares during the last quarter. Finally, Essex Financial Services Inc. raised its holdings in shares of Marriott International by 1.3% during the fourth quarter. Essex Financial Services Inc. now owns 3,004 shares of the company's stock valued at $838,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company's stock.

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Insiders Place Their Bets

In related news, Director Susan C. Schwab sold 1,054 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $277.48, for a total value of $292,463.92. Following the transaction, the director now owns 4,551 shares in the company, valued at approximately $1,262,811.48. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kathleen K. Oberg sold 14,498 shares of Marriott International stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the completion of the sale, the chief financial officer now owns 14,282 shares of the company's stock, valued at $3,971,395.74. This trade represents a 50.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,694 shares of company stock valued at $8,938,132 in the last three months. Insiders own 12.32% of the company's stock.

Marriott International Stock Performance

Shares of MAR stock traded up $3.56 on Tuesday, reaching $246.48. 1,400,707 shares of the company's stock traded hands, compared to its average volume of 1,724,597. The business's 50 day moving average price is $274.94 and its two-hundred day moving average price is $270.47. The company has a market capitalization of $67.95 billion, a P/E ratio of 29.63, a price-to-earnings-growth ratio of 3.42 and a beta of 1.58. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. Research analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.52 dividend on an annualized basis and a yield of 1.02%. Marriott International's payout ratio is 30.29%.

Analyst Ratings Changes

Several analysts have weighed in on MAR shares. The Goldman Sachs Group lifted their target price on Marriott International from $280.00 to $314.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Susquehanna increased their target price on shares of Marriott International from $255.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Mizuho upped their price target on shares of Marriott International from $246.00 to $293.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Stifel Nicolaus boosted their target price on Marriott International from $252.00 to $283.00 and gave the stock a "hold" rating in a report on Tuesday, November 26th. Finally, UBS Group increased their price target on Marriott International from $294.00 to $301.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $286.05.

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.