Patten Group Inc. Cuts Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Patten Group Inc. lessened its holdings in Marriott International, Inc. (NASDAQ:MAR) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,363 shares of the company’s stock after selling 150 shares during the quarter. Patten Group Inc.’s holdings in Marriott International were worth $2,079,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Roble Belko & Company Inc increased its holdings in Marriott International by 845.5% in the first 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. Bangor Savings Bank grew its holdings in shares of Marriott International by 131.1% during the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after purchasing an additional 59 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Marriott International during the second quarter worth about $26,000. Benjamin Edwards Inc. purchased a new position in shares of Marriott International during the first quarter worth about $29,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Marriott International during the second quarter worth about $28,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Stock Performance

MAR opened at $261.88 on Thursday. The company has a 50-day moving average of $231.64 and a 200-day moving average of $237.71. The company has a market capitalization of $74.80 billion, a P/E ratio of 27.03, a PEG ratio of 5.68 and a beta of 1.59. Marriott International, Inc. has a 1-year low of $180.75 and a 1-year high of $263.02.

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 analysts’ consensus estimates 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 business had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the prior year, the firm earned $2.26 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that Marriott International, Inc. will post 9.37 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 16th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Friday, August 16th. Marriott International’s dividend payout ratio (DPR) is 26.01%.

Analysts Set New Price Targets

MAR has been the topic of several research reports. Sanford C. Bernstein raised Marriott International from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $247.00 to $262.00 in a report on Thursday, August 29th. Barclays increased their target price on shares of Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. UBS Group decreased their target price on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company decreased their target price on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Marriott International currently has an average rating of “Hold” and an average target price of $248.65.

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.