Fifth Third Bancorp Buys 14,132 Shares of Marriott International, Inc. (NASDAQ:MAR)

Fifth Third Bancorp lifted its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 10.6% during the second quarter, Holdings Channel.com reports. The firm owned 147,731 shares of the company’s stock after buying an additional 14,132 shares during the quarter. Fifth Third Bancorp’s holdings in Marriott International were worth $35,717,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. BDF Gestion bought a new position in shares of Marriott International during the second quarter worth approximately $3,013,000. Parnassus Investments LLC raised its holdings in 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 acquiring an additional 7,135 shares in the last quarter. Redwood Investment Management LLC grew its holdings in shares of Marriott International by 208.3% during the 4th quarter. Redwood Investment Management LLC now owns 26,927 shares of the company’s stock worth $6,072,000 after purchasing an additional 18,192 shares in the last quarter. CWM LLC increased its position in shares of Marriott International by 518.7% in the second quarter. CWM LLC now owns 47,519 shares of the company’s stock worth $11,489,000 after purchasing an additional 39,839 shares during the period. Finally, Stifel Financial Corp raised its stake in Marriott International by 3.5% in the fourth quarter. Stifel Financial Corp now owns 124,569 shares of the company’s stock valued at $28,092,000 after purchasing an additional 4,247 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on MAR. Wells Fargo & Company decreased their target price on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Susquehanna assumed coverage on shares of Marriott International in a research report on Friday, June 21st. They set a “neutral” rating and a $255.00 price objective for the company. BMO Capital Markets raised their target price on Marriott International from $235.00 to $240.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Barclays lifted their target price on Marriott International from $240.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 17th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $242.39.

Marriott International Stock Up 0.6 %

Shares of MAR stock traded up $1.38 during trading hours on Wednesday, hitting $224.51. 710,518 shares of the company’s stock traded hands, compared to its average volume of 1,495,586. The stock has a market cap of $64.12 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 4.24 and a beta of 1.60. The stock’s 50 day simple moving average is $234.66 and its 200 day simple moving average is $240.15. Marriott International, Inc. has a 12 month low of $180.75 and a 12 month high of $260.57.

Marriott International (NASDAQ:MAR) last announced its earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.01. The business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. Marriott International’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $2.26 EPS. As a group, equities research analysts expect that Marriott International, Inc. will post 9.29 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 1.12%. Marriott International’s payout ratio is 26.01%.

Marriott International Company 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.