China Universal Asset Management Co. Ltd. Acquires 1,854 Shares of Marriott International, Inc. (NASDAQ:MAR)

China Universal Asset Management Co. Ltd. raised its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 108.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,571 shares of the company’s stock after acquiring an additional 1,854 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Marriott International were worth $888,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Worth Financial Advisory Group LLC bought a new stake in shares of Marriott International during the third quarter worth approximately $264,000. Canoe Financial LP bought a new stake in shares of Marriott International during the third quarter worth approximately $77,331,000. State of Alaska Department of Revenue boosted its holdings in shares of Marriott International by 4.0% during the third quarter. State of Alaska Department of Revenue now owns 27,144 shares of the company’s stock worth $6,747,000 after acquiring an additional 1,050 shares during the period. Valley National Advisers Inc. boosted its holdings in shares of Marriott International by 1,224.1% during the third quarter. Valley National Advisers Inc. now owns 8,011 shares of the company’s stock worth $1,991,000 after acquiring an additional 7,406 shares during the period. Finally, Frank Rimerman Advisors LLC boosted its holdings in shares of Marriott International by 14.7% during the third quarter. Frank Rimerman Advisors LLC now owns 6,840 shares of the company’s stock worth $1,700,000 after acquiring an additional 877 shares during the period. Institutional investors own 70.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MAR. The Goldman Sachs Group started coverage on Marriott International in a research note on Wednesday, September 18th. They issued a “buy” rating and a $267.00 price target for the company. Bank of America increased their price target on Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Robert W. Baird set a $258.00 price target on Marriott International in a research report on Thursday, October 17th. Wells Fargo & Company increased their price target on Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial reduced their price target on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $256.39.

Marriott International Stock Performance

Shares of MAR opened at $263.89 on Wednesday. Marriott International, Inc. has a 52 week low of $180.75 and a 52 week high of $266.58. The stock has a market capitalization of $74.29 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 6.36 and a beta of 1.59. The stock has a fifty day moving average of $244.92 and a 200-day moving average of $238.76.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The company 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 earned $2.26 EPS. Marriott International’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that Marriott International, Inc. will post 9.37 EPS for the current year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 16th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Friday, August 16th. Marriott International’s payout ratio is 25.20%.

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, City Express by Marriott, and St.