Fortitude Family Office LLC Purchases 54 Shares of Marriott International, Inc. (NASDAQ:MAR)

Fortitude Family Office LLC increased its holdings in Marriott International, Inc. (NASDAQ:MAR) by 20.3% in the fourth quarter, Holdings Channel reports. The fund owned 320 shares of the company’s stock after purchasing an additional 54 shares during the quarter. Fortitude Family Office LLC’s holdings in Marriott International were worth $89,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. boosted its stake in shares of Marriott International by 12.4% during the second quarter. Royal London Asset Management Ltd. now owns 68,653 shares of the company’s stock valued at $16,598,000 after purchasing an additional 7,594 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Marriott International by 1.0% during the second quarter. Coldstream Capital Management Inc. now owns 5,235 shares of the company’s stock worth $1,266,000 after buying an additional 50 shares during the period. Headlands Technologies LLC bought a new stake in Marriott International during the 2nd quarter valued at $736,000. LPL Financial LLC raised its position in shares of Marriott International by 7.5% in the 2nd quarter. LPL Financial LLC now owns 172,257 shares of the company’s stock worth $41,646,000 after acquiring an additional 12,051 shares in the last quarter. Finally, Fortune Financial Advisors LLC lifted its stake in shares of Marriott International by 4.0% during the 2nd quarter. Fortune Financial Advisors LLC now owns 3,164 shares of the company’s stock worth $765,000 after purchasing an additional 122 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MAR shares. BMO Capital Markets boosted their target price on shares of Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Truist Financial boosted their price objective on shares of Marriott International from $254.00 to $277.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their price target on shares of Marriott International from $252.00 to $283.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Bank of America increased their price objective on Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. boosted their target price on Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Marriott International presently has a consensus rating of “Hold” and an average target price of $269.65.

Insider Activity

In other news, CFO Kathleen K. Oberg sold 2,360 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $285.41, for a total value of $673,567.60. Following the completion of the sale, the chief financial officer now directly owns 39,726 shares in the company, valued at $11,338,197.66. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the transaction, the executive vice president now owns 12,286 shares in the company, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,815 shares of company stock valued at $3,919,739 in the last three months. 12.32% of the stock is currently owned by corporate insiders.

Marriott International Price Performance

NASDAQ:MAR opened at $273.53 on Friday. The firm has a market capitalization of $76.01 billion, a P/E ratio of 28.61, a PEG ratio of 5.47 and a beta of 1.57. The company’s fifty day moving average price is $281.79 and its 200-day moving average price is $254.57. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $295.45.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter in the previous year, the business posted $2.11 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts anticipate that Marriott International, Inc. will post 9.26 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.92%. Marriott International’s payout ratio is 26.36%.

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.