Adelante Capital Management LLC Grows Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Adelante Capital Management LLC grew its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 8.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 48,658 shares of the company’s stock after purchasing an additional 3,667 shares during the period. Marriott International makes up 0.9% of Adelante Capital Management LLC’s holdings, making the stock its 26th biggest holding. Adelante Capital Management LLC’s holdings in Marriott International were worth $13,572,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MAR. Invst LLC lifted its holdings in Marriott International by 3.1% during the 3rd quarter. Invst LLC now owns 8,258 shares of the company’s stock worth $2,053,000 after buying an additional 252 shares during the last quarter. Diamant Asset Management Inc. purchased a new stake in Marriott International during the 3rd quarter worth about $373,000. Wilmington Savings Fund Society FSB purchased a new stake in Marriott International during the 3rd quarter worth about $1,260,000. Optimist Retirement Group LLC lifted its holdings in Marriott International by 7.7% during the 3rd quarter. Optimist Retirement Group LLC now owns 894 shares of the company’s stock worth $222,000 after buying an additional 64 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in Marriott International by 86.8% during the 3rd quarter. Tidal Investments LLC now owns 16,375 shares of the company’s stock worth $4,071,000 after buying an additional 7,607 shares during the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marriott International

In related news, insider William P. Brown sold 12,642 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the transaction, the insider now directly owns 30,919 shares of the company’s stock, valued at approximately $8,831,393.97. The trade was a 29.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kathleen K. Oberg sold 14,498 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 14,282 shares in the company, valued at approximately $3,971,395.74. The trade was a 50.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,694 shares of company stock worth $8,938,132. 10.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on MAR. Morgan Stanley reduced their target price on Marriott International from $275.00 to $267.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Truist Financial reduced their target price on Marriott International from $308.00 to $300.00 and set a “hold” rating for the company in a report on Friday, March 21st. Stifel Nicolaus reduced their target price on Marriott International from $295.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company reduced their target price on Marriott International from $285.00 to $277.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, Argus boosted their target price on Marriott International from $300.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marriott International currently has an average rating of “Hold” and an average price target of $273.10.

Marriott International Price Performance

MAR opened at $239.67 on Wednesday. The stock has a market capitalization of $66.14 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 3.42 and a beta of 1.42. The business has a 50-day moving average of $242.20 and a two-hundred day moving average of $267.09. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52.

Marriott International (NASDAQ:MAR) last issued its 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%. Equities research analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, February 27th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, February 27th. Marriott International’s payout ratio is currently 30.29%.

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.