Marriott International, Inc. (NASDAQ:MAR – Get Free Report) declared a quarterly dividend on Friday, May 8th. Shareholders of record on Friday, May 22nd will be paid a dividend of 0.73 per share on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, May 22nd. This is a 9.0% increase from Marriott International’s previous quarterly dividend of $0.67.
Marriott International has raised its dividend by an average of 0.4%annually over the last three years and has raised its dividend every year for the last 3 years. Marriott International has a dividend payout ratio of 25.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Marriott International to earn $13.25 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 22.0%.
Marriott International Price Performance
Shares of Marriott International stock opened at $358.69 on Wednesday. The stock has a market cap of $94.58 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.86 and a beta of 1.11. Marriott International has a 1 year low of $253.55 and a 1 year high of $380.00. The firm’s 50-day moving average is $344.70 and its two-hundred day moving average is $324.71.
Insider Activity
In other news, insider Rajeev Menon sold 3,492 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $354.00, for a total transaction of $1,236,168.00. Following the transaction, the insider owned 6,000 shares in the company, valued at $2,124,000. This represents a 36.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peggy Roe sold 3,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $361.56, for a total transaction of $1,084,680.00. Following the transaction, the executive vice president owned 19,827 shares in the company, valued at approximately $7,168,650.12. This trade represents a 13.14% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 11.43% of the company’s stock.
Institutional Investors Weigh In On Marriott International
Institutional investors and hedge funds have recently made changes to their positions in the stock. Evelyn Partners Investment Management Services Ltd acquired a new position in shares of Marriott International in the first quarter valued at about $25,000. IMG Wealth Management Inc. increased its holdings in shares of Marriott International by 100.0% in the first quarter. IMG Wealth Management Inc. now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 41 shares during the period. Wilkerson Advisory Group LLC increased its holdings in shares of Marriott International by 127.0% in the first quarter. Wilkerson Advisory Group LLC now owns 84 shares of the company’s stock valued at $27,000 after purchasing an additional 47 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Marriott International in the fourth quarter valued at about $27,000. Finally, McMillan Office Inc. acquired a new stake in Marriott International during the 4th quarter valued at approximately $27,000. 70.70% of the stock is currently owned by institutional investors and hedge funds.
About Marriott International
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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