Old Port Advisors Purchases New Shares in Marriott International, Inc. (NASDAQ:MAR)

Old Port Advisors acquired a new stake in Marriott International, Inc. (NASDAQ:MAR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 789 shares of the company’s stock, valued at approximately $220,000.

A number of other institutional investors also recently modified their holdings of the stock. SK Wealth Management LLC acquired a new position in Marriott International during the 3rd quarter valued at about $831,000. Principal Financial Group Inc. lifted its holdings in Marriott International by 1.7% in the third quarter. Principal Financial Group Inc. now owns 263,638 shares of the company’s stock valued at $65,540,000 after buying an additional 4,301 shares during the period. Oddo BHF Asset Management Sas bought a new position in Marriott International in the third quarter valued at approximately $2,721,000. Tidal Investments LLC lifted its stake in shares of Marriott International by 86.8% in the 3rd quarter. Tidal Investments LLC now owns 16,375 shares of the company’s stock valued at $4,071,000 after purchasing an additional 7,607 shares during the period. Finally, Optimist Retirement Group LLC boosted its position in shares of Marriott International by 7.7% in the 3rd quarter. Optimist Retirement Group LLC now owns 894 shares of the company’s stock worth $222,000 after purchasing an additional 64 shares during the last quarter. 70.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MAR. Jefferies Financial Group increased their target price on Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a research note on Thursday. Barclays lifted their price objective on shares of Marriott International from $249.00 to $286.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their target price on shares of Marriott International from $251.00 to $269.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Truist Financial lifted their price target on shares of Marriott International from $254.00 to $277.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Macquarie reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Marriott International in a research note on Tuesday, November 5th. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $269.65.

Marriott International Price Performance

Shares of NASDAQ MAR opened at $274.45 on Friday. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $295.45. The stock has a market capitalization of $76.27 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 5.47 and a beta of 1.58. The business has a 50-day moving average of $280.75 and a 200-day moving average of $253.55.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing the consensus estimate 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 firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $2.11 EPS. On average, sell-side analysts expect that Marriott International, Inc. will post 9.26 EPS for the current year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 0.92%. Marriott International’s dividend payout ratio is presently 26.36%.

Insider Activity

In other news, insider William P. Brown sold 1,707 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $284.30, for a total transaction of $485,300.10. Following the completion of the sale, the insider now owns 23,077 shares in the company, valued at approximately $6,560,791.10. This trade represents a 6.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Benjamin T. Breland sold 500 shares of the company’s stock in a transaction dated 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 owns 12,286 shares in the company, valued at approximately $3,372,384.14. This trade represents a 3.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,815 shares of company stock valued at $3,919,739. 12.32% of the stock is owned by company 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.