Red Cedar Investment Management LLC Invests $1.50 Million in Marriott International, Inc. (NASDAQ:MAR)

Red Cedar Investment Management LLC purchased a new position 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 SEC. The institutional investor purchased 5,369 shares of the company's stock, valued at approximately $1,498,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in Marriott International by 10.8% in the 3rd quarter. Larson Financial Group LLC now owns 379 shares of the company's stock valued at $94,000 after buying an additional 37 shares during the last quarter. TFG Advisers LLC lifted its position in shares of Marriott International by 0.8% in the 4th quarter. TFG Advisers LLC now owns 4,426 shares of the company's stock worth $1,235,000 after purchasing an additional 37 shares during the period. Harbor Capital Advisors Inc. raised its stake in Marriott International by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 8,698 shares of the company's stock worth $2,162,000 after buying an additional 38 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Marriott International by 1.2% during the 4th 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 period. Finally, Evermay Wealth Management LLC lifted its stake in shares of 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 period. 70.70% of the stock is owned by institutional investors.

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Insider Activity

In other Marriott International news, insider William P. Brown sold 1,707 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $284.30, for a total transaction of $485,300.10. Following the sale, the insider now owns 23,077 shares in the company, valued at approximately $6,560,791.10. This trade represents a 6.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.07% of the company's stock.

Marriott International Stock Performance

Shares of NASDAQ:MAR traded down $0.86 during midday trading on Wednesday, reaching $287.56. 1,414,065 shares of the company's stock traded hands, compared to its average volume of 1,567,733. Marriott International, Inc. has a one year low of $204.55 and a one year high of $307.52. The stock has a 50 day moving average of $284.06 and a 200 day moving average of $263.97. The company has a market cap of $79.28 billion, a price-to-earnings ratio of 34.56, a P/E/G ratio of 3.38 and a beta of 1.57.

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

Marriott International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, February 27th will be given a $0.63 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.52 annualized dividend and a yield of 0.88%. Marriott International's payout ratio is presently 30.29%.

Analysts Set New Price Targets

MAR has been the topic of a number of research reports. Truist Financial upped their target price on Marriott International from $277.00 to $308.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. BMO Capital Markets raised their target price on Marriott International from $255.00 to $265.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 5th. Susquehanna lifted their target price on shares of Marriott International from $255.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Jefferies Financial Group lifted their price target on Marriott International from $251.00 to $295.00 and gave the company a "hold" rating in a research report on Thursday, January 2nd. Finally, Argus increased their price target on shares of Marriott International from $300.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $284.05.

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.