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

Patten Group Inc. cut its stake in Marriott International, Inc. (NASDAQ:MAR) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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.

A number of other institutional investors and hedge funds have also made changes to their positions in MAR. Bangor Savings Bank boosted its position in shares of Marriott International by 131.1% in 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 lifted its position in Marriott International by 845.5% during the 1st quarter. Roble Belko & Company Inc now owns 104 shares of the company’s stock worth $26,000 after acquiring an additional 93 shares during the period. Hantz Financial Services Inc. acquired a new stake in Marriott International during the 2nd quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new stake in Marriott International during the 2nd quarter worth about $28,000. Finally, Benjamin Edwards Inc. acquired a new stake in Marriott International during the 1st quarter worth about $29,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Marriott International Stock Performance

MAR opened at $261.88 on Thursday. Marriott International, Inc. has a one year low of $180.75 and a one year high of $263.02. The stock has a market capitalization of $74.80 billion, a PE ratio of 27.03, a P/E/G ratio of 5.68 and a beta of 1.59. The business’s 50 day moving average price is $231.64 and its 200 day moving average price is $237.71.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The firm had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same period in the prior year, the firm posted $2.26 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts forecast that Marriott International, Inc. will post 9.37 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MAR. UBS Group lowered their price target on Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Wells Fargo & Company decreased their price objective on Marriott International from $248.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Finally, The Goldman Sachs Group assumed coverage on Marriott International in a report on Wednesday, September 18th. They issued a “buy” rating and a $267.00 price objective for the company. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Marriott International has a consensus 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.