Cullen Frost Bankers Inc. Acquires 14,995 Shares of Marriott International, Inc. (NASDAQ:MAR)

Cullen Frost Bankers Inc. grew its stake in Marriott International, Inc. (NASDAQ:MAR) by 55.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,086 shares of the company’s stock after buying an additional 14,995 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Marriott International were worth $10,175,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Bangor Savings Bank increased its holdings in Marriott International by 131.1% during the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after purchasing an additional 59 shares in the last quarter. Roble Belko & Company Inc raised its position in Marriott International by 845.5% in the 1st quarter. Roble Belko & Company Inc now owns 104 shares of the company’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in Marriott International during the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC bought a new position in shares of Marriott International during the 2nd quarter worth approximately $28,000. Finally, Benjamin Edwards Inc. bought a new stake in shares of Marriott International in the first quarter worth $29,000. Institutional investors own 70.70% of the company’s stock.

Marriott International Stock Down 0.6 %

Shares of NASDAQ:MAR opened at $227.60 on Friday. Marriott International, Inc. has a 12-month low of $180.75 and a 12-month high of $260.57. The company’s 50 day moving average price is $231.07 and its two-hundred day moving average price is $238.84. The firm has a market cap of $65.01 billion, a PE ratio of 23.49, a PEG ratio of 5.51 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.01. The firm had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.26 EPS. On average, research analysts expect that Marriott International, Inc. will post 9.37 EPS for the current year.

Marriott International Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on MAR. Barclays raised their target price on shares of Marriott International from $240.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 17th. Truist Financial dropped their target price on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Susquehanna initiated coverage on Marriott International in a research note on Friday, June 21st. They issued a “neutral” rating and a $255.00 price target for the company. Robert W. Baird cut their price objective on Marriott International from $252.00 to $245.00 and set a “neutral” rating for the company in a report on Thursday, August 1st. Finally, Macquarie reiterated a “neutral” rating and issued a $245.00 target price on shares of Marriott International in a research note on Friday, August 2nd. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $244.44.

Marriott International Profile

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.