Norges Bank Makes New $580.92 Million Investment in Marriott International, Inc. (NASDAQ:MAR)

Norges Bank bought a new position in Marriott International, Inc. (NASDAQ:MAR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,082,607 shares of the company’s stock, valued at approximately $580,922,000.

A number of other institutional investors and hedge funds have also modified their holdings of MAR. Larson Financial Group LLC boosted its stake in shares of Marriott International by 10.8% during the 3rd quarter. Larson Financial Group LLC now owns 379 shares of the company’s stock valued at $94,000 after buying an additional 37 shares during the period. Townsquare Capital LLC boosted its position in Marriott International by 22.3% during the third quarter. Townsquare Capital LLC now owns 7,393 shares of the company’s stock valued at $1,838,000 after purchasing an additional 1,349 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in Marriott International in the 3rd quarter worth about $206,000. CreativeOne Wealth LLC raised its stake in shares of Marriott International by 7.5% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,772 shares of the company’s stock worth $441,000 after purchasing an additional 123 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Marriott International by 1.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,185 shares of the company’s stock valued at $11,482,000 after buying an additional 435 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Marriott International from $280.00 to $314.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Jefferies Financial Group lifted their price objective on shares of Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. Barclays cut their target price on Marriott International from $287.00 to $283.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Truist Financial decreased their price target on Marriott International from $308.00 to $300.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Finally, UBS Group raised their price objective on Marriott International from $294.00 to $301.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $286.05.

Marriott International Price Performance

NASDAQ MAR opened at $237.01 on Friday. The company’s fifty day moving average is $272.32 and its two-hundred day moving average is $270.31. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52. The firm has a market capitalization of $65.34 billion, a price-to-earnings ratio of 28.49, a P/E/G ratio of 3.42 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.08. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. As a group, sell-side analysts expect that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, February 27th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, February 27th. Marriott International’s dividend payout ratio (DPR) is presently 30.29%.

Insider Activity

In other Marriott International news, insider William P. Brown sold 12,642 shares of Marriott International stock in a transaction on Friday, February 21st. The stock was sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the completion of the transaction, the insider now directly owns 30,919 shares of the company’s stock, valued at approximately $8,831,393.97. This trade represents a 29.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kathleen K. Oberg sold 14,498 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the sale, the chief financial officer now owns 14,282 shares of the company’s stock, valued at $3,971,395.74. This trade represents a 50.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,694 shares of company stock worth $8,938,132. 12.32% of the stock is currently owned by corporate insiders.

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.