Korea Investment CORP Grows Holdings in Marriott International, Inc. (NASDAQ:MAR)

Korea Investment CORP boosted its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 51.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 137,952 shares of the company’s stock after purchasing an additional 46,652 shares during the period. Korea Investment CORP’s holdings in Marriott International were worth $38,480,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hopwood Financial Services Inc. purchased a new stake in Marriott International during the 4th quarter valued at approximately $25,000. Bell Investment Advisors Inc increased its holdings in shares of Marriott International by 112.2% in the fourth quarter. Bell Investment Advisors Inc now owns 104 shares of the company’s stock valued at $29,000 after purchasing an additional 55 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Marriott International by 494.4% during the fourth quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock worth $30,000 after purchasing an additional 89 shares during the period. Wingate Wealth Advisors Inc. purchased a new position in Marriott International in the 4th quarter valued at $33,000. Finally, ORG Partners LLC increased its stake in Marriott International by 158.5% in the 4th quarter. ORG Partners LLC now owns 137 shares of the company’s stock valued at $38,000 after buying an additional 84 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Trading Down 0.9 %

Shares of MAR stock opened at $244.45 on Friday. The company’s fifty day simple moving average is $273.13 and its 200-day simple moving average is $270.25. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $307.52. The company has a market cap of $67.39 billion, a PE ratio of 29.38, a P/E/G ratio of 3.42 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share for the quarter, topping 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%. Equities research analysts expect 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. Stockholders of record on Thursday, February 27th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.03%. Marriott International’s payout ratio is currently 30.29%.

Insider Activity at Marriott International

In other Marriott International news, EVP Rena Hozore Reiss sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the completion of the sale, the executive vice president now 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 through the SEC website. Also, insider William P. Brown sold 12,642 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $285.63, for a total value of $3,610,934.46. Following the completion of the transaction, the insider now directly owns 30,919 shares in the company, valued at approximately $8,831,393.97. The trade was a 29.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,694 shares of company stock valued at $8,938,132. Corporate insiders own 12.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MAR. Mizuho increased their price target on shares of Marriott International from $246.00 to $293.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Jefferies Financial Group raised their price target on Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. increased their price objective on Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Susquehanna boosted their target price on shares of Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Truist Financial cut their price target on shares of Marriott International from $308.00 to $300.00 and set a “hold” rating for the company in a report on Friday, March 21st. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $286.05.

Marriott International 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.