Premier Fund Managers Ltd Has $63.27 Million Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Premier Fund Managers Ltd lifted its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 31.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,000 shares of the company’s stock after acquiring an additional 60,000 shares during the period. Marriott International makes up about 2.2% of Premier Fund Managers Ltd’s investment portfolio, making the stock its 14th largest holding. Premier Fund Managers Ltd owned about 0.09% of Marriott International worth $63,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MAR. Canoe Financial LP bought a new stake in Marriott International during the 3rd quarter worth about $77,331,000. International Assets Investment Management LLC boosted its position in Marriott International by 15,148.3% during the third quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock valued at $75,208,000 after purchasing an additional 300,543 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Marriott International by 36,856.7% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock valued at $58,346,000 after purchasing an additional 240,674 shares in the last quarter. Capital International Investors increased its position in shares of Marriott International by 4.7% during the 1st quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock worth $831,836,000 after purchasing an additional 149,378 shares during the last quarter. Finally, AXA S.A. boosted its holdings in shares of Marriott International by 133.4% in the 2nd quarter. AXA S.A. now owns 221,045 shares of the company’s stock valued at $53,442,000 after buying an additional 126,323 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Marriott International Stock Down 0.8 %

NASDAQ MAR opened at $279.27 on Wednesday. Marriott International, Inc. has a 12-month low of $200.94 and a 12-month high of $289.04. The firm has a 50-day moving average price of $258.72 and a two-hundred day moving average price of $242.46. The company has a market capitalization of $77.61 billion, a P/E ratio of 29.21, a P/E/G ratio of 5.48 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.11 EPS. Equities analysts expect that Marriott International, Inc. will post 9.26 EPS for the current year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, November 21st. Marriott International’s dividend payout ratio is currently 26.36%.

Analysts Set New Price Targets

MAR has been the topic of several analyst reports. Sanford C. Bernstein upped their price target on shares of Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Evercore ISI boosted their price target on Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Truist Financial cut their price objective on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Finally, BMO Capital Markets increased their price target on Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $259.00.

Insider Buying and Selling at Marriott International

In related news, EVP Benjamin T. Breland sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total transaction of $137,245.00. Following the completion of the transaction, the executive vice president now directly owns 12,286 shares in the company, valued at $3,372,384.14. This represents a 3.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Felitia Lee sold 916 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $276.48, for a total transaction of $253,255.68. Following the transaction, the chief accounting officer now owns 5,609 shares of the company’s stock, valued at $1,550,776.32. This trade represents a 14.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,108 shares of company stock worth $3,434,439 over the last three months. Corporate insiders own 10.07% of the company’s stock.

About Marriott International

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.