Perpetual Ltd Purchases New Position in Marriott International, Inc. (NASDAQ:MAR)

Perpetual Ltd acquired a new stake in shares of Marriott International, Inc. (NASDAQ:MAR) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 761 shares of the company’s stock, valued at approximately $212,000.

Several other institutional investors have also recently made changes to their positions in the company. Crossmark Global Holdings Inc. boosted its stake in Marriott International by 2.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 25,786 shares of the company’s stock worth $7,193,000 after acquiring an additional 614 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Marriott International by 2.3% in the 4th quarter. Ballentine Partners LLC now owns 5,170 shares of the company’s stock worth $1,442,000 after purchasing an additional 114 shares in the last quarter. Martel Wealth Advisors Inc purchased a new stake in shares of Marriott International in the 4th quarter worth approximately $1,008,000. Amplius Wealth Advisors LLC purchased a new position in Marriott International during the fourth quarter valued at $206,000. Finally, Grove Bank & Trust boosted its holdings in Marriott International by 6.4% in the fourth quarter. Grove Bank & Trust now owns 1,327 shares of the company’s stock worth $370,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MAR shares. BMO Capital Markets upped their price target on shares of Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Bank of America increased their price target on shares of Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 21st. Stifel Nicolaus upped their price objective on Marriott International from $252.00 to $283.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their target price on Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Finally, TD Cowen dropped their price objective on Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $272.15.

Insider Activity

In related news, CAO Felitia Lee sold 916 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the transaction, the chief accounting officer now owns 5,609 shares in the company, valued at approximately $1,550,776.32. This represents a 14.04 % 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 hyperlink. Also, EVP Benjamin T. Breland sold 500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the completion of the sale, the executive vice president now owns 12,286 shares in the company, valued at approximately $3,372,384.14. The trade was a 3.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,815 shares of company stock worth $3,919,739 over the last ninety days. Corporate insiders own 12.32% of the company’s stock.

Marriott International Stock Performance

NASDAQ:MAR opened at $285.07 on Friday. The stock has a 50-day simple moving average of $282.07 and a two-hundred day simple moving average of $256.82. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $295.45. The firm has a market capitalization of $79.22 billion, a PE ratio of 29.82, a P/E/G ratio of 4.59 and a beta of 1.57.

Marriott International (NASDAQ:MAR) last released its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.05). The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations 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 revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.11 earnings per share. Equities analysts forecast that Marriott International, Inc. will post 9.25 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st were issued a dividend of $0.63 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a yield of 0.88%. Marriott International’s dividend payout ratio is presently 26.36%.

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.