Patron Partners LLC Buys 101 Shares of Marriott International, Inc. (NASDAQ:MAR)

Patron Partners LLC lifted its stake in Marriott International, Inc. (NASDAQ:MAR) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,004 shares of the company’s stock after buying an additional 101 shares during the period. Patron Partners LLC’s holdings in Marriott International were worth $726,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAR. JPMorgan Chase & Co. increased its position in shares of Marriott International by 1.8% during the first quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after purchasing an additional 192,652 shares during the period. Capital International Investors increased its holdings in Marriott International by 4.7% in the 1st quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after buying an additional 149,378 shares during the period. Parnassus Investments LLC raised its stake in shares of Marriott International by 0.3% in the 4th quarter. Parnassus Investments LLC now owns 2,457,382 shares of the company’s stock valued at $554,164,000 after buying an additional 7,135 shares in the last quarter. Norges Bank acquired a new stake in shares of Marriott International during the 4th quarter valued at about $461,525,000. Finally, Wells Fargo & Company MN increased its stake in Marriott International by 4.7% in the fourth quarter. Wells Fargo & Company MN now owns 660,831 shares of the company’s stock valued at $149,024,000 after acquiring an additional 29,785 shares during the period. 70.70% of the stock is currently owned by institutional investors.

Marriott International Stock Down 0.6 %

Shares of MAR opened at $227.60 on Friday. The stock’s fifty day simple moving average is $231.07 and its 200-day simple moving average is $238.86. The firm has a market capitalization of $65.01 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 5.51 and a beta of 1.59. Marriott International, Inc. has a 12-month low of $180.75 and a 12-month high of $260.57.

Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same quarter last year, the firm earned $2.26 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts anticipate that Marriott International, Inc. will post 9.37 EPS for the current year.

Marriott International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 16th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 1.11%. Marriott International’s dividend payout ratio is currently 26.01%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Morgan Stanley decreased their price target on Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. UBS Group dropped their price objective on Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Robert W. Baird cut their price target on shares of Marriott International from $252.00 to $245.00 and set a “neutral” rating for the company in a report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $244.44.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.