Patten Group Inc. Lowers Position in Marriott International, Inc. $MAR

Patten Group Inc. lessened its stake in Marriott International, Inc. (NASDAQ:MAR) by 4.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,251 shares of the company’s stock after selling 348 shares during the quarter. Patten Group Inc.’s holdings in Marriott International were worth $1,981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of MAR. Alliancebernstein L.P. boosted its position in Marriott International by 194.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,709,665 shares of the company’s stock worth $407,242,000 after purchasing an additional 1,129,555 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Marriott International during the 2nd quarter worth approximately $266,084,000. Wellington Management Group LLP raised its stake in shares of Marriott International by 16.4% during the 1st quarter. Wellington Management Group LLP now owns 5,427,410 shares of the company’s stock worth $1,292,809,000 after buying an additional 766,309 shares during the period. Nuveen LLC acquired a new position in shares of Marriott International during the 1st quarter worth approximately $166,059,000. Finally, Invesco Ltd. raised its stake in shares of Marriott International by 18.9% during the 1st quarter. Invesco Ltd. now owns 4,123,836 shares of the company’s stock worth $982,298,000 after buying an additional 654,766 shares during the period. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Stock Up 3.2%

Shares of NASDAQ:MAR opened at $268.43 on Wednesday. The business has a fifty day moving average of $265.63 and a two-hundred day moving average of $260.54. The stock has a market cap of $72.87 billion, a P/E ratio of 30.26, a PEG ratio of 2.56 and a beta of 1.35. Marriott International, Inc. has a 52-week low of $205.40 and a 52-week high of $307.52.

Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.65. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.66 billion. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%.The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.50 EPS. Marriott International has set its FY 2025 guidance at 9.850-10.080 EPS. Q3 2025 guidance at 2.310-2.390 EPS. On average, 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Thursday, August 21st were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, August 21st. Marriott International’s dividend payout ratio is presently 30.21%.

Marriott International declared that its board has authorized a share repurchase program on Thursday, August 7th that allows the company to buyback 25,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays reduced their target price on Marriott International from $276.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, October 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Marriott International in a research note on Wednesday, October 8th. Robert W. Baird reduced their price objective on Marriott International from $287.00 to $285.00 and set a “neutral” rating for the company in a research note on Tuesday. BMO Capital Markets reduced their price objective on Marriott International from $285.00 to $280.00 and set a “market perform” rating for the company in a research note on Wednesday, August 6th. Finally, Truist Financial increased their price objective on Marriott International from $273.00 to $278.00 and gave the company a “hold” rating in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $281.56.

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.