KLP Kapitalforvaltning AS Takes $23.28 Million Position in Marriott International, Inc. (NASDAQ:MAR)

KLP Kapitalforvaltning AS acquired a new position in shares of Marriott International, Inc. (NASDAQ:MAR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 83,463 shares of the company’s stock, valued at approximately $23,281,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MAR. Empowered Funds LLC grew its position 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 during the period. Prospera Financial Services Inc increased its position in shares of Marriott International by 151.8% during the third quarter. Prospera Financial Services Inc now owns 3,603 shares of the company’s stock worth $896,000 after acquiring an additional 2,172 shares in the last quarter. Commerce Bank raised its holdings 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 acquiring an additional 393 shares during the period. Moran Wealth Management LLC lifted its position in Marriott International by 2.1% in the 3rd quarter. Moran Wealth Management LLC now owns 2,562 shares of the company’s stock valued at $637,000 after acquiring an additional 53 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Marriott International by 0.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,100 shares of the company’s stock worth $20,659,000 after purchasing an additional 740 shares in the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MAR has been the subject of several recent research reports. Barclays reduced their price objective on Marriott International from $287.00 to $283.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Susquehanna upped their price target on Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Argus lifted their price objective on shares of Marriott International from $300.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Jefferies Financial Group raised their target price on shares of Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a research report on Thursday, January 2nd. Finally, UBS Group boosted their price target on shares of Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $286.05.

Marriott International Trading Down 3.0 %

Shares of NASDAQ MAR opened at $237.49 on Friday. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52. The stock has a 50 day moving average of $275.53 and a 200-day moving average of $270.08. The company has a market capitalization of $65.47 billion, a P/E ratio of 28.54, a P/E/G ratio of 3.42 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. 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. Stockholders of record on Thursday, February 27th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International’s payout ratio is 30.29%.

Insider Buying and Selling

In other news, insider William P. Brown sold 12,642 shares of Marriott International stock in a transaction on Friday, February 21st. The stock was sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the completion of the sale, the insider now owns 30,919 shares of the company’s stock, valued at approximately $8,831,393.97. This trade represents a 29.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kathleen K. Oberg sold 14,498 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the completion of the transaction, the chief financial officer now owns 14,282 shares in the company, valued at $3,971,395.74. This trade represents a 50.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,694 shares of company stock valued at $8,938,132. Insiders own 12.32% of the company’s stock.

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.