Maryland State Retirement & Pension System Takes $3.13 Million Position in Marriott International, Inc. (NASDAQ:MAR)
Maryland State Retirement & Pension System acquired a new stake in Marriott International, Inc. (NASDAQ:MAR – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,041 shares of the company’s stock, valued at approximately $3,133,000.
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Several other hedge funds also recently modified their holdings of MAR. Vigilant Capital Management LLC lifted its position in Marriott International by 72.2% in the third quarter. Vigilant Capital Management LLC now owns 186 shares of the company’s stock worth $26,000 after purchasing an additional 78 shares during the period. Old North State Trust LLC bought a new position in Marriott International in the third quarter worth $27,000. New Millennium Group LLC bought a new position in Marriott International in the second quarter worth $37,000. Mach 1 Financial Group LLC bought a new position in Marriott International in the third quarter worth $42,000. Finally, Castleview Partners LLC lifted its position in Marriott International by 226.0% in the second quarter. Castleview Partners LLC now owns 163 shares of the company’s stock worth $49,000 after purchasing an additional 113 shares during the period. 58.97% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, insider William P. Brown sold 2,500 shares of the business’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $170.03, for a total transaction of $425,075.00. Following the completion of the transaction, the insider now directly owns 17,738 shares in the company, valued at approximately $3,015,992.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider William P. Brown sold 2,500 shares of the business’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $170.03, for a total transaction of $425,075.00. Following the completion of the transaction, the insider now directly owns 17,738 shares in the company, valued at approximately $3,015,992.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kathleen K. Oberg sold 5,765 shares of the business’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $179.18, for a total value of $1,032,972.70. Following the transaction, the chief financial officer now owns 20,630 shares of the company’s stock, valued at $3,696,483.40. The disclosure for this sale can be found here. Insiders sold a total of 22,086 shares of company stock worth $3,860,436 over the last three months. 12.21% of the stock is currently owned by company insiders.
Marriott International Price Performance
Shares of MAR stock opened at $156.56 on Friday. The stock has a 50-day moving average price of $169.38 and a 200 day moving average price of $158.98. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 16.51. The firm has a market cap of $48.24 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 0.70 and a beta of 1.58. Marriott International, Inc. has a 12 month low of $131.01 and a 12 month high of $195.90.
Marriott International (NASDAQ:MAR – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.38 billion. Marriott International had a return on equity of 168.43% and a net margin of 11.35%. The company’s revenue was up 33.2% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. Research analysts expect that Marriott International, Inc. will post 7.75 EPS for the current year.
Marriott International Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, February 24th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.02%. This is a positive change from Marriott International’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, February 23rd. Marriott International’s dividend payout ratio (DPR) is presently 22.04%.
Analyst Ratings Changes
Several research analysts recently commented on MAR shares. Barclays raised their target price on Marriott International from $173.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 15th. Truist Financial lifted their price objective on Marriott International from $185.00 to $205.00 and gave the company a “hold” rating in a report on Thursday, February 16th. Robert W. Baird lifted their price objective on Marriott International from $183.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, February 27th. Credit Suisse Group lifted their price objective on Marriott International from $185.00 to $205.00 and gave the company a “hold” rating in a report on Thursday, February 16th. Finally, Jefferies Financial Group cut Marriott International from a “buy” rating to a “hold” rating and set a $166.00 price objective for the company. in a report on Monday, January 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $180.50.
Marriott International Company Profile
Marriott International, Inc engages in the operation and franchise of hotel, residential, and timeshare properties. It operates through the following geography segments: U.S. & Canada, Asia Pacific, and Europe, Middle East and Africa (EMEA). The company was founded by J. Willard Marriott and Alice Sheets Marriott in 1927 and is headquartered in Bethesda, MD.
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