Red Cedar Investment Management LLC Takes $1.50 Million Position in Marriott International, Inc. (NASDAQ:MAR)

Red Cedar Investment Management LLC bought a new stake in Marriott International, Inc. (NASDAQ:MAR) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,369 shares of the company’s stock, valued at approximately $1,498,000.

A number of other large investors have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Marriott International by 4.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,024,187 shares of the company’s stock valued at $254,613,000 after purchasing an additional 46,563 shares during the last quarter. National Pension Service boosted its holdings in Marriott International by 11.6% in the third quarter. National Pension Service now owns 719,613 shares of the company’s stock valued at $178,896,000 after purchasing an additional 74,832 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Marriott International by 8.4% in the third quarter. Janus Henderson Group PLC now owns 613,052 shares of the company’s stock valued at $152,399,000 after purchasing an additional 47,551 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Marriott International by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock valued at $140,844,000 after purchasing an additional 2,723 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Marriott International by 3.0% in the third quarter. PNC Financial Services Group Inc. now owns 443,103 shares of the company’s stock valued at $110,156,000 after purchasing an additional 12,702 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on MAR shares. JPMorgan Chase & Co. increased their target price on Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Bank of America increased their target price on Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Macquarie reaffirmed a “neutral” rating and set a $245.00 target price on shares of Marriott International in a report on Tuesday, November 5th. Susquehanna increased their target price on Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Evercore ISI raised Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 target price on the stock in a report on Tuesday, February 4th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Marriott International currently has an average rating of “Hold” and a consensus target price of $284.45.

Marriott International Price Performance

MAR opened at $283.52 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 market cap of $78.79 billion, a P/E ratio of 29.66, a P/E/G ratio of 4.88 and a beta of 1.57. The stock’s 50 day moving average price is $284.30 and its 200 day moving average price is $262.26.

Marriott International (NASDAQ:MAR) last posted its earnings results 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 negative return on equity of 177.91% and a net margin of 11.18%. Equities analysts anticipate that Marriott International, Inc. will post 9.26 EPS for the current year.

Marriott International Announces Dividend

The company also recently declared 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. This represents a $2.52 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International’s dividend payout ratio (DPR) is presently 26.36%.

Insider Activity

In other news, insider William P. Brown sold 1,707 shares of Marriott International stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $284.30, for a total transaction of $485,300.10. Following the transaction, the insider now directly owns 23,077 shares in the company, valued at approximately $6,560,791.10. This trade represents a 6.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.32% of the stock is owned by insiders.

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.