Healthcare of Ontario Pension Plan Trust Fund lessened its position in Marriott International, Inc. (NASDAQ:MAR – Free Report) by 29.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 392,311 shares of the company’s stock after selling 167,674 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.15% of Marriott International worth $128,313,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the company. Frederick Financial Consultants LLC grew its stake in Marriott International by 0.8% during the fourth quarter. Frederick Financial Consultants LLC now owns 3,531 shares of the company’s stock worth $1,095,000 after buying an additional 28 shares during the last quarter. Haven Capital Group Inc. raised its stake in shares of Marriott International by 0.3% in the first quarter. Haven Capital Group Inc. now owns 10,064 shares of the company’s stock valued at $3,292,000 after acquiring an additional 30 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Marriott International by 1.2% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,472 shares of the company’s stock worth $808,000 after acquiring an additional 30 shares in the last quarter. Transamerica Financial Advisors LLC grew its position in Marriott International by 34.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 120 shares of the company’s stock worth $37,000 after acquiring an additional 31 shares during the last quarter. Finally, Optimize Financial Inc raised its position in Marriott International by 1.4% in the 4th quarter. Optimize Financial Inc now owns 2,284 shares of the company’s stock valued at $709,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.
Marriott International Stock Up 2.7%
MAR stock opened at $374.43 on Friday. Marriott International, Inc. has a twelve month low of $253.76 and a twelve month high of $410.98. The company has a market cap of $98.73 billion, a P/E ratio of 39.29, a PEG ratio of 2.85 and a beta of 1.11. The business has a fifty day moving average of $378.14 and a 200-day moving average of $352.16.
Marriott International Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 22nd were issued a $0.73 dividend. This is an increase from Marriott International’s previous quarterly dividend of $0.67. This represents a $2.92 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, May 22nd. Marriott International’s dividend payout ratio (DPR) is currently 30.64%.
Insider Transactions at Marriott International
In other Marriott International news, EVP Peggy Roe sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $361.56, for a total value of $1,084,680.00. Following the transaction, the executive vice president directly owned 19,827 shares of the company’s stock, valued at approximately $7,168,650.12. This trade represents a 13.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.43% of the company’s stock.
Key Headlines Impacting Marriott International
Here are the key news stories impacting Marriott International this week:
- Positive Sentiment: Marriott signed a dual agreement with Catalonia Hotels & Resorts to add all-inclusive properties in Jamaica and Tanzania, expanding its global all-inclusive portfolio and deepening its presence in popular leisure markets. Marriott International Signs Dual Agreement with Catalonia Hotels & Resorts to Bring All-Inclusive Properties to Jamaica and Tanzania
- Positive Sentiment: Additional coverage highlighted Marriott’s expanding all-inclusive footprint in Jamaica and Zanzibar, reinforcing the company’s growth strategy in resort travel. Marriott Expands All-Inclusive Footprint with New Properties in Jamaica, Zanzibar
- Positive Sentiment: Analyst commentary turned more upbeat, with TD Cowen raising its price target to $420 and other firms citing upside potential for MAR. TD Cowen Raises Marriott International (NASDAQ:MAR) Price Target to $420.00
- Positive Sentiment: Marriott also announced new consumer-facing promotions, including a wedding campaign in the Philippines and an expanded holiday “ice” attraction, which can support brand engagement and ancillary demand. ‘Where Love Takes You’: Marriott International PH launches first wedding campaign
Wall Street Analysts Forecast Growth
Several analysts have recently commented on MAR shares. Stifel Nicolaus increased their target price on Marriott International from $352.00 to $365.00 and gave the stock a “hold” rating in a report on Friday, July 17th. Susquehanna lifted their price target on Marriott International from $280.00 to $385.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. UBS Group upped their price target on shares of Marriott International from $336.00 to $412.00 and gave the stock a “neutral” rating in a research report on Monday, June 15th. Truist Financial raised their price objective on shares of Marriott International from $350.00 to $356.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley boosted their target price on shares of Marriott International from $353.00 to $380.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $388.59.
Marriott International Company Profile
Marriott International is a global lodging company that develops, manages and franchises a broad portfolio of hotels and related lodging facilities. Its core activities include hotel and resort management, franchise operations, property development and the provision of centralized services such as reservations, marketing and loyalty program management. The company’s brand architecture spans market segments from luxury and premium to select-service and extended-stay, enabling it to serve a wide range of business and leisure travelers as well as corporate and group customers.
The company traces its roots to the hospitality business founded by J.
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