Jacobi Capital Management LLC Grows Stake in Marriott International, Inc. (NASDAQ:MAR)

Jacobi Capital Management LLC grew its holdings in Marriott International, Inc. (NASDAQ:MAR) by 2.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,753 shares of the company’s stock after acquiring an additional 100 shares during the period. Jacobi Capital Management LLC’s holdings in Marriott International were worth $1,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Marriott International by 4.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,024,187 shares of the company’s stock worth $254,613,000 after acquiring an additional 46,563 shares in the last quarter. National Pension Service raised its position in shares of Marriott International by 11.6% in the 3rd quarter. National Pension Service now owns 719,613 shares of the company’s stock worth $178,896,000 after acquiring an additional 74,832 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Marriott International by 8.4% in the 3rd quarter. Janus Henderson Group PLC now owns 613,052 shares of the company’s stock worth $152,399,000 after acquiring an additional 47,551 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Marriott International by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock worth $140,844,000 after acquiring an additional 2,723 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Marriott International by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 443,103 shares of the company’s stock worth $110,156,000 after acquiring an additional 12,702 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Price Performance

MAR stock opened at $280.45 on Friday. The company has a market cap of $77.32 billion, a P/E ratio of 33.71, a price-to-earnings-growth ratio of 3.42 and a beta of 1.57. Marriott International, Inc. has a 1 year low of $204.55 and a 1 year high of $307.52. The stock’s fifty day moving average price is $283.20 and its 200-day moving average price is $267.30.

Marriott International (NASDAQ:MAR) last released 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 negative return on equity of 116.67% and a net margin of 9.46%. As a group, 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 announced 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 is Thursday, February 27th. This represents a $2.52 annualized dividend and a yield of 0.90%. Marriott International’s dividend payout ratio (DPR) is presently 30.29%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Marriott International from $280.00 to $314.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Macquarie reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Marriott International in a research report on Tuesday, November 5th. Sanford C. Bernstein raised their price objective on Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Truist Financial raised their price objective on Marriott International from $277.00 to $308.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised their price objective on Marriott International from $251.00 to $269.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $284.05.

Insider Activity at Marriott International

In related news, EVP Rena Hozore Reiss sold 3,500 shares of Marriott International stock in a transaction on Friday, February 21st. The stock was sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the transaction, the executive vice president now directly owns 24,733 shares in the company, valued at approximately $7,089,714.45. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathleen K. Oberg sold 14,498 shares of Marriott International stock in a transaction on Friday, February 21st. The shares were sold at an average price of $278.07, for a total value of $4,031,458.86. Following the transaction, the chief financial officer now owns 14,282 shares in the company, 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. Over the last three months, insiders have sold 31,694 shares of company stock worth $8,938,132. Corporate insiders own 12.32% of the company’s stock.

Marriott International 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.