68,421 Shares in Marriott International, Inc. (NASDAQ:MAR) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new stake in shares of Marriott International, Inc. (NASDAQ:MAR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 68,421 shares of the company’s stock, valued at approximately $19,132,000.

A number of other hedge funds have also recently modified their holdings of MAR. Hopwood Financial Services Inc. bought a new position in Marriott International during the 4th quarter valued at approximately $25,000. Bell Investment Advisors Inc increased its holdings in shares of Marriott International by 112.2% during the fourth quarter. Bell Investment Advisors Inc now owns 104 shares of the company’s stock valued at $29,000 after acquiring an additional 55 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of Marriott International by 494.4% in the 4th quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock worth $30,000 after purchasing an additional 89 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in Marriott International during the 4th quarter valued at about $33,000. Finally, ORG Partners LLC increased its stake in Marriott International by 158.5% during the 4th quarter. ORG Partners LLC now owns 137 shares of the company’s stock valued at $38,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 70.70% of the company’s stock.

Insider Transactions at Marriott International

In related news, EVP Rena Hozore Reiss sold 3,500 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the completion of the transaction, the executive vice president now directly owns 24,733 shares of the company’s stock, valued at approximately $7,089,714.45. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kathleen K. Oberg sold 14,498 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $278.07, for a total value of $4,031,458.86. Following the sale, the chief financial officer now directly owns 14,282 shares in the company, valued at $3,971,395.74. This trade represents a 50.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,694 shares of company stock valued at $8,938,132. 12.32% of the stock is currently owned by corporate insiders.

Marriott International Price Performance

MAR opened at $214.58 on Friday. The firm has a market cap of $59.22 billion, a P/E ratio of 25.79, a PEG ratio of 3.42 and a beta of 1.42. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The company has a 50 day simple moving average of $267.40 and a two-hundred day simple moving average of $270.62.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. Equities analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, February 27th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 27th. Marriott International’s payout ratio is currently 30.29%.

Analysts Set New Price Targets

MAR has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Marriott International from $285.00 to $277.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Truist Financial decreased their price target on Marriott International from $308.00 to $300.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Argus increased their price objective on Marriott International from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. UBS Group boosted their target price on Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Susquehanna lifted their price target on shares of Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $286.05.

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.