Cherry Creek Investment Advisors Inc. lessened its position in Marriott International, Inc. (NASDAQ:MAR – Get Rating) by 14.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,359 shares of the company’s stock after selling 2,087 shares during the quarter. Marriott International makes up about 1.4% of Cherry Creek Investment Advisors Inc.’s portfolio, making the stock its 19th biggest position. Cherry Creek Investment Advisors Inc.’s holdings in Marriott International were worth $2,172,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Marriott International during the 4th quarter worth approximately $398,339,000. Jennison Associates LLC increased its position in shares of Marriott International by 40.1% during the 4th quarter. Jennison Associates LLC now owns 3,800,873 shares of the company’s stock worth $628,056,000 after purchasing an additional 1,087,753 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Marriott International by 32.7% during the 4th quarter. Invesco Ltd. now owns 2,633,569 shares of the company’s stock worth $435,170,000 after acquiring an additional 648,663 shares during the last quarter. State Street Corp increased its holdings in shares of Marriott International by 5.3% during the 4th quarter. State Street Corp now owns 12,139,062 shares of the company’s stock worth $2,005,859,000 after acquiring an additional 609,192 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Marriott International by 9.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,494,326 shares of the company’s stock worth $1,073,124,000 after acquiring an additional 548,671 shares during the last quarter. 59.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of MAR stock traded up $3.17 on Monday, hitting $139.18. The company had a trading volume of 99,013 shares, compared to its average volume of 2,528,497. The firm has a market cap of $45.55 billion, a P/E ratio of 30.86 and a beta of 1.61. The stock’s 50-day moving average is $161.52 and its two-hundred day moving average is $165.34. The company has a debt-to-equity ratio of 4.93, a quick ratio of 0.53 and a current ratio of 0.53. Marriott International, Inc. has a twelve month low of $127.23 and a twelve month high of $195.90.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Monday, May 16th were issued a $0.30 dividend. The ex-dividend date was Friday, May 13th. This represents a $1.20 annualized dividend and a yield of 0.86%. Marriott International’s payout ratio is currently 26.61%.
MAR has been the subject of several recent research reports. StockNews.com initiated coverage on Marriott International in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Barclays assumed coverage on Marriott International in a research note on Tuesday, June 28th. They issued an “overweight” rating and a $164.00 price target for the company. Stifel Nicolaus upped their target price on Marriott International from $175.00 to $180.00 in a research report on Wednesday, May 4th. Finally, TheStreet downgraded Marriott International from a “b-” rating to a “c+” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $179.70.
In other news, insider Craig S. Smith sold 3,647 shares of the firm’s stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $185.00, for a total value of $674,695.00. Following the transaction, the insider now owns 19,252 shares in the company, valued at $3,561,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Debra L. Lee sold 2,145 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $171.30, for a total value of $367,438.50. Following the completion of the transaction, the director now owns 1,224 shares in the company, valued at approximately $209,671.20. The disclosure for this sale can be found here. 12.21% of the stock is currently owned by corporate insiders.
About Marriott International (Get Rating)
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through U.S. and Canada, and International segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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