Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 3.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,200 shares of the company's stock after purchasing an additional 9,514 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.09% of Marriott International worth $64,141,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of MAR. Brighton Jones LLC raised its position in shares of Marriott International by 2.5% during the 4th quarter. Brighton Jones LLC now owns 8,887 shares of the company's stock worth $2,479,000 after purchasing an additional 218 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in Marriott International by 31.4% in the 4th quarter. Proficio Capital Partners LLC now owns 1,293 shares of the company's stock valued at $361,000 after acquiring an additional 309 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Marriott International by 18.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 14,917 shares of the company's stock valued at $4,173,000 after acquiring an additional 2,273 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Marriott International by 62.2% in the 4th quarter. Teacher Retirement System of Texas now owns 15,098 shares of the company's stock valued at $4,211,000 after acquiring an additional 5,788 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Marriott International by 0.3% in the 4th quarter. American Century Companies Inc. now owns 26,592 shares of the company's stock valued at $7,418,000 after acquiring an additional 88 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
MAR has been the subject of several analyst reports. Melius Research upgraded Marriott International to a "strong-buy" rating in a report on Monday, April 21st. UBS Group dropped their price objective on Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Stifel Nicolaus dropped their price objective on Marriott International from $295.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Truist Financial dropped their price objective on Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a report on Friday, May 30th. Finally, Robert W. Baird upped their price objective on Marriott International from $265.00 to $285.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Thirteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Marriott International presently has a consensus rating of "Moderate Buy" and a consensus price target of $276.90.
Check Out Our Latest Report on Marriott International
Insider Transactions at Marriott International
In other news, insider Rajeev Menon sold 2,500 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total transaction of $670,700.00. Following the transaction, the insider owned 5,706 shares of the company's stock, valued at approximately $1,530,805.68. This trade represents a 30.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Capuano sold 12,000 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the transaction, the chief executive officer directly owned 124,067 shares in the company, valued at $32,741,281.30. The trade was a 8.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,500 shares of company stock valued at $4,107,710. Insiders own 10.68% of the company's stock.
Marriott International Trading Up 1.6%
NASDAQ:MAR traded up $4.41 on Friday, reaching $277.29. The stock had a trading volume of 349,800 shares, compared to its average volume of 1,719,655. The company has a 50-day moving average of $268.55 and a 200 day moving average of $262.30. The stock has a market cap of $75.95 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52.
Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, beating analysts' consensus estimates of $2.25 by $0.07. The company had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.13 EPS. On average, equities analysts predict that Marriott International, Inc. will post 10.1 EPS for the current year.
Marriott International Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 23rd were given a dividend of $0.67 per share. This is a boost from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.68 annualized dividend and a dividend yield of 0.97%. Marriott International's dividend payout ratio (DPR) is presently 30.52%.
About Marriott International
(
Free Report)
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.
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