Victory Capital Management Inc. raised its stake in shares of Marriott International Inc (NASDAQ:MAR) by 8.7% during the 4th quarter, HoldingsChannel reports. The fund owned 26,936 shares of the company’s stock after acquiring an additional 2,151 shares during the period. Victory Capital Management Inc.’s holdings in Marriott International were worth $3,656,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Janus Henderson Group PLC increased its holdings in Marriott International by 88.6% in the 3rd quarter. Janus Henderson Group PLC now owns 1,673,540 shares of the company’s stock worth $184,524,000 after acquiring an additional 786,050 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Marriott International by 32.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,246,262 shares of the company’s stock worth $137,414,000 after acquiring an additional 308,279 shares during the last quarter. Capital International Investors purchased a new stake in Marriott International in the 3rd quarter worth about $28,778,000. Canada Pension Plan Investment Board increased its holdings in Marriott International by 125.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 411,366 shares of the company’s stock worth $45,357,000 after acquiring an additional 228,538 shares during the last quarter. Finally, Boston Advisors LLC purchased a new position in Marriott International during the 3rd quarter valued at about $22,071,000. Institutional investors and hedge funds own 66.19% of the company’s stock.
Marriott International Inc (NASDAQ MAR) opened at $138.50 on Monday. The stock has a market capitalization of $49,505.07, a price-to-earnings ratio of 31.77, a PEG ratio of 2.19 and a beta of 1.35. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 2.10. Marriott International Inc has a 1-year low of $85.63 and a 1-year high of $149.21.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, February 23rd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, February 22nd. Marriott International’s dividend payout ratio (DPR) is currently 36.67%.
Marriott International announced that its Board of Directors has initiated a share buyback program on Thursday, November 9th that allows the company to buyback 30,000,000 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
A number of research firms recently weighed in on MAR. Morgan Stanley boosted their target price on Marriott International from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Thursday, November 9th. Royal Bank of Canada boosted their target price on Marriott International to $159.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Stifel Nicolaus restated a “hold” rating and issued a $115.00 target price (up previously from $98.00) on shares of Marriott International in a research report on Wednesday, November 8th. Barclays boosted their price objective on Marriott International from $105.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 28th. Finally, BidaskClub downgraded Marriott International from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $122.38.
In other news, insider Argiris Kyriakidis sold 4,605 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $126.33, for a total value of $581,749.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward A. Ryan sold 5,900 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $127.22, for a total value of $750,598.00. Following the sale, the executive vice president now directly owns 61,956 shares of the company’s stock, valued at $7,882,042.32. The disclosure for this sale can be found here. Insiders sold 69,579 shares of company stock worth $9,158,125 in the last ninety days. Corporate insiders own 11.32% of the company’s stock.
About Marriott International
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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