Norges Bank Takes Position in Marriott International, Inc. (NASDAQ:MAR)

Norges Bank bought a new stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,082,607 shares of the company's stock, valued at approximately $580,922,000. Norges Bank owned 0.75% of Marriott International as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Larson Financial Group LLC lifted its holdings in Marriott International by 10.8% during the third quarter. Larson Financial Group LLC now owns 379 shares of the company's stock valued at $94,000 after purchasing an additional 37 shares in the last quarter. Townsquare Capital LLC increased its stake in shares of Marriott International by 22.3% during the third quarter. Townsquare Capital LLC now owns 7,393 shares of the company's stock worth $1,838,000 after purchasing an additional 1,349 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in Marriott International in the 3rd quarter worth about $206,000. CreativeOne Wealth LLC boosted its holdings in Marriott International by 7.5% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,772 shares of the company's stock worth $441,000 after buying an additional 123 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Marriott International by 1.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,185 shares of the company's stock valued at $11,482,000 after acquiring an additional 435 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company's stock.

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Marriott International Stock Up 0.5 %

NASDAQ MAR traded up $1.19 during trading hours on Monday, hitting $238.20. 1,948,822 shares of the stock were exchanged, compared to its average volume of 1,503,255. The company has a market cap of $65.67 billion, a price-to-earnings ratio of 28.63, 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. The stock has a 50-day moving average of $272.32 and a 200 day moving average of $270.93.

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

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International's dividend payout ratio (DPR) is 30.29%.

Insiders Place Their Bets

In other Marriott International news, CFO Kathleen K. Oberg sold 14,498 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 14,282 shares in the company, valued at approximately $3,971,395.74. This trade represents a 50.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan C. Schwab sold 1,054 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $277.48, for a total transaction of $292,463.92. Following the completion of the sale, the director now directly owns 4,551 shares in the company, valued at $1,262,811.48. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,694 shares of company stock worth $8,938,132. 12.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MAR has been the subject of several recent research reports. Jefferies Financial Group increased their price objective on Marriott International from $251.00 to $295.00 and gave the company a "hold" rating in a research note on Thursday, January 2nd. Barclays decreased their price target on shares of Marriott International from $287.00 to $283.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. Mizuho increased their price objective on shares of Marriott International from $246.00 to $293.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Evercore ISI upgraded Marriott International from an "in-line" rating to an "outperform" rating and set a $330.00 price target for the company in a research report on Tuesday, February 4th. Finally, Argus boosted their price objective on Marriott International from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price 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.