Premier Fund Managers Ltd Acquires 60,000 Shares of Marriott International, Inc. (NASDAQ:MAR)

Premier Fund Managers Ltd increased its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 31.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,000 shares of the company's stock after acquiring an additional 60,000 shares during the period. Marriott International comprises about 2.2% of Premier Fund Managers Ltd's portfolio, making the stock its 14th largest position. Premier Fund Managers Ltd owned about 0.09% of Marriott International worth $63,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MAR. Bangor Savings Bank raised its holdings in shares of Marriott International by 131.1% in the second quarter. Bangor Savings Bank now owns 104 shares of the company's stock valued at $25,000 after purchasing an additional 59 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in Marriott International in the 2nd quarter valued at $26,000. MFA Wealth Advisors LLC bought a new stake in Marriott International during the 2nd quarter worth about $28,000. Silvant Capital Management LLC acquired a new position in shares of Marriott International during the 3rd quarter worth about $31,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Marriott International in the second quarter valued at about $35,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on MAR. Barclays raised their price target on Marriott International from $240.00 to $249.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 5th. Truist Financial dropped their price target on shares of Marriott International from $263.00 to $254.00 and set a "hold" rating on the stock in a research report on Tuesday, August 6th. Bank of America lifted their price objective on shares of Marriott International from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Mizuho raised their target price on shares of Marriott International from $233.00 to $246.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Finally, Sanford C. Bernstein boosted their price target on Marriott International from $262.00 to $290.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $259.00.

Marriott International Stock Up 0.3 %

Shares of MAR traded up $0.76 during mid-day trading on Wednesday, hitting $280.03. 206,955 shares of the company's stock were exchanged, compared to its average volume of 1,467,375. Marriott International, Inc. has a 52 week low of $200.94 and a 52 week high of $289.04. The stock's 50-day simple moving average is $258.72 and its 200-day simple moving average is $242.46. The firm has a market cap of $77.82 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 5.48 and a beta of 1.58.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing analysts' consensus estimates of $2.31 by ($0.05). The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.11 EPS. Analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a yield of 0.90%. Marriott International's dividend payout ratio is currently 26.36%.

Insider Activity

In other Marriott International news, EVP Benjamin T. Breland sold 500 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total transaction of $137,245.00. Following the sale, the executive vice president now directly owns 12,286 shares of the company's stock, valued at $3,372,384.14. The trade was a 3.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kathleen K. Oberg sold 2,360 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $285.41, for a total transaction of $673,567.60. Following the completion of the sale, the chief financial officer now directly owns 39,726 shares in the company, valued at approximately $11,338,197.66. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,108 shares of company stock worth $3,434,439. Insiders own 10.07% of the company's stock.

About Marriott International

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.