Norden Group LLC Invests $7.89 Million in Marriott International, Inc. (NASDAQ:MAR)

Norden Group LLC acquired a new position in shares of Marriott International, Inc. (NASDAQ:MAR) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 31,245 shares of the company’s stock, valued at approximately $7,885,000.

Several other large investors also recently modified their holdings of the stock. Roble Belko & Company Inc grew its position in Marriott International by 845.5% in the 1st quarter. Roble Belko & Company Inc now owns 104 shares of the company’s stock valued at $26,000 after purchasing an additional 93 shares during the period. ORG Partners LLC grew its position in Marriott International by 72.6% in the 4th quarter. ORG Partners LLC now owns 126 shares of the company’s stock valued at $29,000 after purchasing an additional 53 shares during the period. Keener Financial Planning LLC acquired a new stake in Marriott International in the 4th quarter valued at $30,000. Annapolis Financial Services LLC acquired a new stake in Marriott International in the 1st quarter valued at $34,000. Finally, Anchor Investment Management LLC acquired a new stake in Marriott International in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Stock Performance

Shares of Marriott International stock opened at $240.17 on Friday. The stock has a market capitalization of $68.60 billion, a P/E ratio of 24.79, a P/E/G ratio of 4.52 and a beta of 1.60. Marriott International, Inc. has a 52-week low of $178.24 and a 52-week high of $260.57. The stock’s 50-day simple moving average is $237.38 and its 200 day simple moving average is $239.60.

Marriott International (NASDAQ:MAR) last posted its earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.09 EPS. Equities research analysts forecast that Marriott International, Inc. will post 9.55 EPS for the current fiscal year.

Marriott International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 24th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Thursday, May 23rd. This is a positive change from Marriott International’s previous quarterly dividend of $0.52. Marriott International’s payout ratio is presently 26.01%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Marriott International from $250.00 to $248.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Argus raised their price objective on Marriott International from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Susquehanna started coverage on Marriott International in a research note on Friday, June 21st. They set a “neutral” rating and a $255.00 price objective on the stock. Barclays lifted their target price on Marriott International from $239.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, April 19th. Finally, Robert W. Baird lifted their target price on Marriott International from $248.00 to $250.00 and gave the stock a “neutral” rating in a research note 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 MarketBeat, the company has an average rating of “Hold” and a consensus price target of $242.19.

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