KLP Kapitalforvaltning AS Acquires Shares of 83,463 Marriott International, Inc. (NASDAQ:MAR)

KLP Kapitalforvaltning AS bought a new stake in Marriott International, Inc. (NASDAQ:MAR) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 83,463 shares of the company’s stock, valued at approximately $23,281,000.

Several other institutional investors and hedge funds have also modified their holdings of MAR. Empowered Funds LLC boosted its stake in shares of Marriott International by 4.8% in the 3rd quarter. Empowered Funds LLC now owns 3,734 shares of the company’s stock valued at $928,000 after purchasing an additional 172 shares in the last quarter. Prospera Financial Services Inc boosted its position in Marriott International by 151.8% in the third quarter. Prospera Financial Services Inc now owns 3,603 shares of the company’s stock valued at $896,000 after buying an additional 2,172 shares in the last quarter. Commerce Bank grew its stake in shares of Marriott International by 3.6% during the third quarter. Commerce Bank now owns 11,361 shares of the company’s stock worth $2,824,000 after buying an additional 393 shares during the last quarter. Moran Wealth Management LLC increased its holdings in shares of Marriott International by 2.1% during the third quarter. Moran Wealth Management LLC now owns 2,562 shares of the company’s stock worth $637,000 after buying an additional 53 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Marriott International by 0.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,100 shares of the company’s stock valued at $20,659,000 after acquiring an additional 740 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors.

Marriott International Stock Performance

Shares of MAR opened at $237.49 on Friday. The firm has a market cap of $65.47 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 3.42 and a beta of 1.58. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52. The business’s 50 day moving average price is $275.53 and its two-hundred day moving average price is $270.08.

Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. Research analysts predict that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, February 27th. Marriott International’s payout ratio is 30.29%.

Analyst Ratings Changes

A number of equities analysts have issued reports on MAR shares. Susquehanna upped their target price on Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Truist Financial lowered their price objective on Marriott International from $308.00 to $300.00 and set a “hold” rating for the company in a research note on Friday. Morgan Stanley lifted their target price on shares of Marriott International from $289.00 to $298.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Evercore ISI upgraded shares of Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price target for the company in a research report on Tuesday, February 4th. Finally, UBS Group lifted their price target on shares of Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $286.05.

Insiders Place Their Bets

In related news, EVP Rena Hozore Reiss sold 3,500 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $286.65, for a total value of $1,003,275.00. Following the transaction, the executive vice president now directly owns 24,733 shares in the company, valued at $7,089,714.45. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William P. Brown sold 12,642 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the sale, the insider now owns 30,919 shares of the company’s stock, valued at $8,831,393.97. This trade represents a 29.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,694 shares of company stock worth $8,938,132. Corporate insiders own 12.32% 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.