KLP Kapitalforvaltning AS Has $22.45 Million Stake in Marriott International, Inc. (NASDAQ:MAR)

KLP Kapitalforvaltning AS increased its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 12.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,263 shares of the company's stock after acquiring an additional 10,800 shares during the period. KLP Kapitalforvaltning AS's holdings in Marriott International were worth $22,453,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MAR. FMR LLC lifted its position in Marriott International by 0.8% during the fourth quarter. FMR LLC now owns 6,973,897 shares of the company's stock valued at $1,945,299,000 after purchasing an additional 56,978 shares during the period. Geode Capital Management LLC lifted its position in Marriott International by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 5,026,529 shares of the company's stock valued at $1,398,321,000 after purchasing an additional 60,458 shares during the period. Capital International Investors lifted its position in Marriott International by 0.3% during the fourth quarter. Capital International Investors now owns 4,720,306 shares of the company's stock valued at $1,316,682,000 after purchasing an additional 15,923 shares during the period. Wellington Management Group LLP lifted its position in Marriott International by 50.8% during the fourth quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock valued at $1,300,168,000 after purchasing an additional 1,570,144 shares during the period. Finally, Invesco Ltd. lifted its position in Marriott International by 17.4% during the fourth quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock valued at $967,662,000 after purchasing an additional 512,963 shares during the period. Institutional investors own 70.70% of the company's stock.

Insider Activity at Marriott International

In related news, EVP Benjamin T. Breland sold 1,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president owned 20,724 shares in the company, valued at $5,599,832.04. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer owned 124,067 shares of the company's stock, valued at $32,741,281.30. This trade represents a 8.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,107,710 over the last 90 days. 10.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on MAR shares. Mizuho dropped their price objective on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. BMO Capital Markets lifted their price objective on shares of Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Barclays dropped their price objective on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Dbs Bank upgraded shares of Marriott International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 14th. Finally, UBS Group lowered their target price on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Thirteen analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $276.90.

Marriott International Stock Performance

Marriott International stock traded up $5.68 during midday trading on Friday, reaching $278.56. The company's stock had a trading volume of 587,162 shares, compared to its average volume of 1,721,217. The stock's 50 day simple moving average is $268.55 and its 200 day simple moving average is $262.30. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52. The firm has a market capitalization of $76.30 billion, a PE ratio of 31.73, a P/E/G ratio of 2.62 and a beta of 1.41.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 EPS 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 the consensus estimate of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.13 EPS. Equities analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 23rd were paid a $0.67 dividend. 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 0.96%. Marriott International's dividend payout ratio is presently 30.52%.

Marriott International Company Profile

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.