Jupiter Asset Management Ltd. Makes New Investment in Marriott International, Inc. (NASDAQ:MAR)

Jupiter Asset Management Ltd. bought a new position in Marriott International, Inc. (NASDAQ:MAR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 48,150 shares of the company’s stock, valued at approximately $8,842,000.

Other hedge funds also recently made changes to their positions in the company. MV Capital Management Inc. increased its position in Marriott International by 1.8% during the 2nd quarter. MV Capital Management Inc. now owns 2,941 shares of the company’s stock valued at $540,000 after purchasing an additional 51 shares during the period. Chicago Capital LLC boosted its holdings in shares of Marriott International by 1.2% during the 2nd quarter. Chicago Capital LLC now owns 4,543 shares of the company’s stock valued at $835,000 after buying an additional 54 shares in the last quarter. Graypoint LLC boosted its holdings in shares of Marriott International by 3.5% during the 2nd quarter. Graypoint LLC now owns 1,643 shares of the company’s stock valued at $302,000 after buying an additional 55 shares in the last quarter. Fulton Breakefield Broenniman LLC boosted its stake in Marriott International by 0.7% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 8,415 shares of the company’s stock worth $1,253,000 after purchasing an additional 56 shares in the last quarter. Finally, Patten Group Inc. boosted its stake in Marriott International by 0.6% in the 2nd quarter. Patten Group Inc. now owns 9,478 shares of the company’s stock worth $1,741,000 after purchasing an additional 57 shares in the last quarter. 58.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on MAR. Argus boosted their target price on Marriott International from $208.00 to $232.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Robert W. Baird boosted their target price on Marriott International from $198.00 to $220.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. HSBC began coverage on Marriott International in a research report on Monday, October 23rd. They issued a “buy” rating and a $233.00 target price for the company. Citigroup upped their price target on shares of Marriott International from $175.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, August 30th. Finally, Sanford C. Bernstein lowered shares of Marriott International from an “outperform” rating to a “market perform” rating and upped their price target for the company from $204.00 to $218.00 in a research report on Monday, August 14th. One research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $213.93.

Insiders Place Their Bets

In other Marriott International news, 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 value of $1,656,240.00. Following the completion of the transaction, the insider now directly owns 4,000 shares in the company, valued at approximately $828,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Anthony Capuano sold 20,000 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $202.23, for a total transaction of $4,044,600.00. Following the completion of the transaction, the chief executive officer now directly owns 100,317 shares in the company, valued at approximately $20,287,106.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rajeev Menon sold 8,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $207.03, for a total value of $1,656,240.00. Following the transaction, the insider now owns 4,000 shares of the company’s stock, valued at $828,120. The disclosure for this sale can be found here. 12.32% of the stock is currently owned by corporate insiders.

Marriott International Trading Up 1.0 %

Marriott International stock opened at $205.77 on Friday. The firm has a 50 day moving average of $195.24 and a 200 day moving average of $190.51. The firm has a market capitalization of $60.43 billion, a price-to-earnings ratio of 21.80, a P/E/G ratio of 1.37 and a beta of 1.57. Marriott International, Inc. has a 12-month low of $145.37 and a 12-month high of $210.98. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 73.56.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $2.08 annualized dividend and a yield of 1.01%. Marriott International’s payout ratio is 22.03%.

Marriott International announced that its Board of Directors has initiated a share repurchase program on Thursday, November 9th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.