PGGM Investments Buys 754 Shares of Marriott International, Inc. (NASDAQ:MAR)

PGGM Investments lifted its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 4.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 18,776 shares of the company’s stock after acquiring an additional 754 shares during the period. PGGM Investments’ holdings in Marriott International were worth $4,737,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Parnassus Investments LLC raised its position in Marriott International by 0.3% in the 4th quarter. Parnassus Investments LLC now owns 2,457,382 shares of the company’s stock worth $554,164,000 after purchasing an additional 7,135 shares during the period. Redwood Investment Management LLC increased its position in shares of Marriott International by 208.3% in the fourth quarter. Redwood Investment Management LLC now owns 26,927 shares of the company’s stock valued at $6,072,000 after acquiring an additional 18,192 shares during the period. Stifel Financial Corp increased its position in shares of Marriott International by 3.5% in the fourth quarter. Stifel Financial Corp now owns 124,569 shares of the company’s stock valued at $28,092,000 after acquiring an additional 4,247 shares during the period. Cerity Partners LLC increased its position in shares of Marriott International by 86.8% in the fourth quarter. Cerity Partners LLC now owns 44,957 shares of the company’s stock valued at $10,138,000 after acquiring an additional 20,890 shares during the period. Finally, First Pacific Advisors LP increased its position in shares of Marriott International by 1.4% in the fourth quarter. First Pacific Advisors LP now owns 598,350 shares of the company’s stock valued at $134,934,000 after acquiring an additional 8,151 shares during the period. 70.70% of the stock is owned by institutional investors.

Marriott International Stock Performance

Shares of NASDAQ MAR traded down $5.11 during midday trading on Friday, reaching $213.67. The stock had a trading volume of 3,679,065 shares, compared to its average volume of 1,579,860. The stock has a 50-day moving average of $237.97 and a 200-day moving average of $241.79. The company has a market capitalization of $60.15 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 4.24 and a beta of 1.60. Marriott International, Inc. has a 12-month low of $180.75 and a 12-month high of $260.57.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The firm had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same period in the prior year, the company posted $2.26 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts forecast that Marriott International, Inc. will post 9.29 EPS for the current fiscal year.

Marriott International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.18%. Marriott International’s dividend payout ratio is 26.01%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday. Robert W. Baird cut their target price on shares of Marriott International from $252.00 to $245.00 and set a “neutral” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research note on Thursday. BMO Capital Markets boosted their price objective on shares of Marriott International from $235.00 to $240.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Finally, Mizuho upped their target price on shares of Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Fifteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $241.42.

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