GF Fund Management CO. LTD. Invests $14.69 Million in Marriott International, Inc. (NASDAQ:MAR)

GF Fund Management CO. LTD. purchased a new position in Marriott International, Inc. (NASDAQ:MAR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,667 shares of the company's stock, valued at approximately $14,691,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Straightline Group LLC purchased a new position in Marriott International during the 4th quarter worth $495,000. NewEdge Wealth LLC boosted its position in Marriott International by 34.4% during the 4th quarter. NewEdge Wealth LLC now owns 4,345 shares of the company's stock valued at $1,212,000 after acquiring an additional 1,112 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Marriott International during the 4th quarter valued at $2,990,000. Markel Group Inc. boosted its position in Marriott International by 30.6% during the 4th quarter. Markel Group Inc. now owns 47,000 shares of the company's stock valued at $13,110,000 after acquiring an additional 11,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Marriott International by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,477,619 shares of the company's stock valued at $412,167,000 after acquiring an additional 32,288 shares in the last quarter. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MAR. Truist Financial dropped their target price on Marriott International from $308.00 to $300.00 and set a "hold" rating on the stock in a research report on Friday, March 21st. Morgan Stanley dropped their target price on Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group raised Marriott International from a "hold" rating to a "buy" rating and increased their target price for the company from $226.00 to $303.00 in a research report on Monday, May 12th. UBS Group lowered their price objective on Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Finally, Susquehanna raised their price objective on Marriott International from $255.00 to $285.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Thirteen analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $276.50.

Marriott International Trading Up 3.3%

Marriott International stock traded up $8.40 during midday trading on Tuesday, hitting $266.10. 1,338,876 shares of the stock were exchanged, compared to its average volume of 1,608,328. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52. The stock has a market capitalization of $72.88 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 3.42 and a beta of 1.39. The stock's 50-day simple moving average is $241.50 and its 200 day simple moving average is $266.56.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.07. The company had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.19 billion. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 earnings per share. Equities analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 23rd will be paid 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 is Friday, May 23rd. This represents a $2.68 annualized dividend and a yield of 1.01%. Marriott International's payout ratio is presently 30.52%.

Insider Buying and Selling

In other Marriott International news, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $270.21, for a total value of $270,210.00. Following the sale, the executive vice president now owns 20,724 shares of the company's stock, valued at approximately $5,599,832.04. The trade was a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.68% of the stock is owned by company insiders.

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.