Concord Investment Counsel Inc. Takes Position in Marriott International, Inc. (NASDAQ:MAR)

Concord Investment Counsel Inc. bought a new position in Marriott International, Inc. (NASDAQ:MARFree Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 23,301 shares of the company’s stock, valued at approximately $5,879,000. Marriott International makes up about 2.1% of Concord Investment Counsel Inc.’s investment portfolio, making the stock its 16th biggest position.

A number of other large investors have also recently added to or reduced their stakes in MAR. Public Sector Pension Investment Board lifted its stake in Marriott International by 8.7% in the third quarter. Public Sector Pension Investment Board now owns 26,836 shares of the company’s stock valued at $5,275,000 after acquiring an additional 2,145 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in Marriott International during the third quarter worth $7,874,000. Savoir Faire Capital Management L.P. bought a new position in Marriott International during the third quarter valued at about $2,129,000. Modera Wealth Management LLC boosted its stake in shares of Marriott International by 2.3% during the 3rd quarter. Modera Wealth Management LLC now owns 4,292 shares of the company’s stock worth $844,000 after acquiring an additional 95 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Marriott International by 113.8% in the 3rd quarter. American Century Companies Inc. now owns 73,119 shares of the company’s stock valued at $14,372,000 after acquiring an additional 38,915 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MAR. Wells Fargo & Company cut their price objective on Marriott International from $250.00 to $248.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Barclays increased their price objective on Marriott International from $239.00 to $240.00 and gave the company an “equal weight” rating in a research report on Friday, April 19th. Mizuho increased their price target on shares of Marriott International from $260.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Argus boosted their price objective on shares of Marriott International from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, BMO Capital Markets lifted their target price on Marriott International from $235.00 to $240.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $242.19.

Read Our Latest Analysis on Marriott International

Marriott International Trading Up 1.5 %

Marriott International stock traded up $3.70 during trading hours on Friday, hitting $243.48. 582,223 shares of the stock traded hands, compared to its average volume of 1,446,565. Marriott International, Inc. has a one year low of $180.75 and a one year high of $260.57. The company has a market cap of $69.54 billion, a PE ratio of 24.75, a PEG ratio of 4.57 and a beta of 1.60. The firm’s 50-day moving average price is $237.62 and its two-hundred day moving average price is $240.27.

Marriott International (NASDAQ:MARGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.95 billion. During the same period in the previous year, the firm earned $2.09 EPS. The company’s revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts expect that Marriott International, Inc. will post 9.55 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 24th were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This is a boost from Marriott International’s previous quarterly dividend of $0.52. This represents a $2.52 annualized dividend and a yield of 1.03%. Marriott International’s payout ratio is 26.01%.

About Marriott International

(Free Report)

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.

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Institutional Ownership by Quarter for Marriott International (NASDAQ:MAR)

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