23,301 Shares in Marriott International, Inc. (NASDAQ:MAR) Purchased by Concord Investment Counsel Inc.

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

Several other large investors have also recently bought and sold shares of the business. Roble Belko & Company Inc grew its stake 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 acquiring an additional 93 shares during the last quarter. Benjamin Edwards Inc. purchased a new position in shares of Marriott International during the 1st quarter worth approximately $29,000. ORG Partners LLC increased its stake in shares of Marriott International by 72.6% during the 4th quarter. ORG Partners LLC now owns 126 shares of the company’s stock valued at $29,000 after acquiring an additional 53 shares during the last quarter. Keener Financial Planning LLC acquired a new stake in shares of Marriott International in the fourth quarter worth approximately $30,000. Finally, Annapolis Financial Services LLC purchased a new stake in Marriott International in the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Trading Up 1.5 %

MAR traded up $3.70 during trading on Friday, reaching $243.48. 582,223 shares of the company were exchanged, compared to its average volume of 1,446,565. The stock has a market cap of $69.54 billion, a P/E ratio of 24.75, a PEG ratio of 4.57 and a beta of 1.60. Marriott International, Inc. has a 52 week low of $180.75 and a 52 week high of $260.57. The firm has a 50 day moving average of $237.62 and a 200 day moving average of $240.27.

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

Marriott International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 24th were issued a $0.63 dividend. The ex-dividend date 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 dividend yield of 1.03%. Marriott International’s dividend payout ratio (DPR) is 26.01%.

Analysts Set New Price Targets

A number of analysts recently issued reports on MAR shares. Wells Fargo & Company dropped their target price on shares of 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. Susquehanna initiated coverage on shares of Marriott International in a report on Friday, June 21st. They set a “neutral” rating and a $255.00 target price on the stock. BMO Capital Markets raised their price objective on Marriott International from $235.00 to $240.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. Argus upped their target price on Marriott International from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Mizuho boosted their price target on Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Marriott International has a consensus rating of “Hold” and an average target price 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.