Grove Bank & Trust Has $287,000 Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Grove Bank & Trust cut its holdings in Marriott International, Inc. (NASDAQ:MAR) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,189 shares of the company’s stock after selling 78 shares during the period. Grove Bank & Trust’s holdings in Marriott International were worth $287,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Bangor Savings Bank lifted its position in shares of 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 during the last quarter. Roble Belko & Company Inc raised its holdings 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 acquiring an additional 93 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of Marriott International in the 2nd quarter worth approximately $28,000. Benjamin Edwards Inc. bought a new stake in shares of Marriott International during the first quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC bought a new position in Marriott International in the fourth quarter worth $33,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on MAR. BMO Capital Markets lifted their price objective on Marriott International from $235.00 to $240.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Truist Financial dropped their price objective on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company reduced 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 research note on Thursday, August 1st. Macquarie reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Marriott International in a report on Friday, August 2nd. Finally, UBS Group decreased their price objective on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $242.39.

Marriott International Stock Performance

NASDAQ MAR traded up $1.14 during trading on Friday, hitting $225.26. The stock had a trading volume of 958,335 shares, compared to its average volume of 1,489,193. The company has a market capitalization of $64.34 billion, a PE ratio of 23.25, a P/E/G ratio of 4.24 and a beta of 1.60. 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 $233.81 and its two-hundred day moving average price is $239.80.

Marriott International (NASDAQ:MAR) last released its earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. The business had revenue of $6.44 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.26 earnings per share. As a group, equities analysts anticipate that Marriott International, Inc. will post 9.29 earnings per share for the current fiscal year.

Marriott International Announces Dividend

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

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.