Boston Partners lessened its holdings in Marriott International, Inc. (NASDAQ:MAR – Free Report) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,248,410 shares of the company’s stock after selling 138,958 shares during the quarter. Boston Partners owned approximately 0.42% of Marriott International worth $229,387,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in MAR. Jupiter Asset Management Ltd. acquired a new stake in shares of Marriott International during the 2nd quarter worth approximately $8,842,000. Private Advisor Group LLC grew its position in shares of Marriott International by 11.5% during the 2nd quarter. Private Advisor Group LLC now owns 20,322 shares of the company’s stock worth $3,766,000 after buying an additional 2,102 shares during the period. EagleClaw Capital Managment LLC grew its position in shares of Marriott International by 0.4% during the 2nd quarter. EagleClaw Capital Managment LLC now owns 19,875 shares of the company’s stock worth $3,651,000 after buying an additional 75 shares during the period. Moors & Cabot Inc. grew its position in shares of Marriott International by 1.5% during the 2nd quarter. Moors & Cabot Inc. now owns 21,283 shares of the company’s stock worth $3,910,000 after buying an additional 312 shares during the period. Finally, Checchi Capital Advisers LLC grew its position in shares of Marriott International by 3.2% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,027 shares of the company’s stock worth $556,000 after buying an additional 94 shares during the period. Institutional investors own 58.79% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on MAR shares. HSBC started coverage on Marriott International in a report on Monday, October 23rd. They issued a “buy” rating and a $233.00 target price on the stock. Truist Financial reiterated a “hold” rating and issued a $221.00 target price on shares of Marriott International in a report on Thursday, September 21st. Barclays increased their target price on Marriott International from $189.00 to $208.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 2nd. Bank of America increased their target price on Marriott International from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, September 21st. Finally, Robert W. Baird lifted their price objective on shares of Marriott International from $198.00 to $220.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $213.93.
Marriott International Trading Up 0.2 %
Shares of Marriott International stock opened at $204.12 on Friday. Marriott International, Inc. has a 52-week low of $145.37 and a 52-week high of $210.98. The stock’s 50-day simple moving average is $195.23 and its 200 day simple moving average is $190.26. The stock has a market capitalization of $59.95 billion, a P/E ratio of 21.58, a P/E/G ratio of 1.35 and a beta of 1.57. The company has a debt-to-equity ratio of 73.56, a quick ratio of 0.48 and a current ratio of 0.48.
Marriott International Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Tuesday, November 21st. Marriott International’s dividend payout ratio is currently 22.03%.
Marriott International announced that its Board of Directors has initiated a stock buyback program on Thursday, November 9th that permits the company to repurchase 25,000,000 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
Insider Activity at Marriott International
In other news, insider Rajeev Menon sold 8,000 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $207.03, for a total transaction of $1,656,240.00. Following the sale, the insider now directly owns 4,000 shares in the company, valued at $828,120. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Anthony Capuano sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $202.23, for a total value of $4,044,600.00. Following the transaction, the chief executive officer now directly owns 100,317 shares in the company, valued at $20,287,106.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Rajeev Menon sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $207.03, for a total transaction of $1,656,240.00. Following the completion of the transaction, the insider now owns 4,000 shares in the company, valued at $828,120. The disclosure for this sale can be found here. 12.32% of the stock is currently owned by company insiders.
Marriott International Company Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, timeshare, and other lodging properties worldwide. The company operates through U.S. and Canada, and International segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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