ING Groep NV Boosts Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• ING Groep NV has increased its holdings in Marriott International by 5.3%, now owning approximately $9.10 million worth of shares.
• Marriott International announced a quarterly dividend increase from $0.63 to $0.67, reflecting an annualized dividend yield of 1.0%.
• Recent analyst ratings show mixed forecasts, with target prices for Marriott's stock ranging from $236.00 to $280.11, indicating a general consensus of a "Moderate Buy" rating.

ING Groep NV lifted its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,186 shares of the company's stock after purchasing an additional 1,938 shares during the period. ING Groep NV's holdings in Marriott International were worth $9,096,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in Marriott International in the fourth quarter valued at about $25,000. Morse Asset Management Inc bought a new position in Marriott International in the first quarter valued at approximately $30,000. Kapitalo Investimentos Ltda acquired a new position in Marriott International during the fourth quarter worth $34,000. Sound Income Strategies LLC grew its holdings in Marriott International by 46.7% during the first quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock worth $37,000 after purchasing an additional 50 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in shares of Marriott International in the fourth quarter valued at about $38,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Marriott International Stock Performance

Shares of Marriott International stock traded down $2.12 during midday trading on Thursday, reaching $260.59. 1,695,849 shares of the company's stock traded hands, compared to its average volume of 1,531,594. The stock has a 50 day moving average of $268.85 and a 200-day moving average of $261.73. The company has a market cap of $70.74 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 2.51 and a beta of 1.44. Marriott International, Inc. has a 12 month low of $205.40 and a 12 month high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, hitting analysts' consensus estimates of $2.65. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same period in the previous year, the business earned $2.50 EPS. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, August 21st will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.0%. Marriott International's dividend payout ratio is currently 30.21%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MAR shares. Morgan Stanley dropped their price objective on Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group reiterated a "neutral" rating and set a $245.00 price target (down previously from $313.00) on shares of Marriott International in a report on Monday, April 14th. Jefferies Financial Group raised Marriott International from a "hold" rating to a "buy" rating and raised their target price for the stock from $226.00 to $303.00 in a research note on Monday, May 12th. Mizuho cut their target price on Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Barclays dropped their price objective on Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Marriott International presently has an average rating of "Moderate Buy" and a consensus target price of $280.89.

Insider Buying and Selling

In related news, CEO Anthony Capuano sold 12,000 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $263.90, for a total value of $3,166,800.00. Following the sale, the chief executive officer directly owned 124,067 shares of the company's stock, valued at $32,741,281.30. This represents a 8.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rajeev Menon sold 2,500 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total transaction of $670,700.00. Following the completion of the transaction, the insider owned 5,706 shares in the company, valued at $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,500 shares of company stock worth $4,107,710. Corporate insiders own 10.68% of the company's stock.

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.