New England Research & Management Inc. bought a new stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,175 shares of the company's stock, valued at approximately $886,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MAR. PointState Capital LP bought a new stake in shares of Marriott International in the third quarter valued at about $98,249,000. Canoe Financial LP bought a new position in shares of Marriott International in the third quarter worth about $77,331,000. International Assets Investment Management LLC boosted its position in Marriott International by 15,148.3% in the 3rd quarter. International Assets Investment Management LLC now owns 302,527 shares of the company's stock valued at $75,208,000 after buying an additional 300,543 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Marriott International by 341.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 381,226 shares of the company's stock worth $106,339,000 after purchasing an additional 294,898 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Marriott International by 36,856.7% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company's stock valued at $58,346,000 after purchasing an additional 240,674 shares during the period. Hedge funds and other institutional investors own 70.70% of the company's stock.
Insider Buying and Selling
In other Marriott International news, CAO Felitia Lee sold 916 shares of Marriott International stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the transaction, the chief accounting officer now owns 5,609 shares in the company, valued at approximately $1,550,776.32. This trade represents a 14.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Anthony Capuano sold 8,332 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the sale, the chief executive officer now directly owns 108,361 shares in the company, valued at $30,827,620.89. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,815 shares of company stock worth $3,919,739. Insiders own 12.32% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. Robert W. Baird raised their price objective on Marriott International from $258.00 to $264.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. TD Cowen dropped their target price on Marriott International from $295.00 to $283.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Stifel Nicolaus boosted their price objective on shares of Marriott International from $252.00 to $283.00 and gave the stock a "hold" rating in a research note on Tuesday, November 26th. Mizuho upped their price objective on shares of Marriott International from $233.00 to $246.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Finally, Argus lifted their target price on Marriott International from $300.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $272.15.
View Our Latest Research Report on Marriott International
Marriott International Trading Down 0.7 %
MAR traded down $1.95 during midday trading on Friday, reaching $290.59. The company's stock had a trading volume of 1,293,099 shares, compared to its average volume of 1,315,563. Marriott International, Inc. has a 1 year low of $204.55 and a 1 year high of $295.45. The stock's 50-day moving average is $283.06 and its 200-day moving average is $259.02. The firm has a market capitalization of $80.75 billion, a price-to-earnings ratio of 30.40, a PEG ratio of 4.65 and a beta of 1.57.
Marriott International (NASDAQ:MAR - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.05). Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The company had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.27 billion. During the same quarter last year, the firm posted $2.11 earnings per share. Marriott International's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.
Marriott International Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, November 21st were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, November 21st. Marriott International's payout ratio is presently 26.36%.
About Marriott International
(
Free Report)
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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