3,592 Shares in Marriott International, Inc. (NASDAQ:MAR) Acquired by Wedgewood Investors Inc. PA

Wedgewood Investors Inc. PA purchased a new position in shares of Marriott International, Inc. (NASDAQ:MAR) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 3,592 shares of the company’s stock, valued at approximately $868,000. Marriott International comprises approximately 1.0% of Wedgewood Investors Inc. PA’s portfolio, making the stock its 28th biggest position.

A number of other institutional investors also recently made changes to their positions in the business. Bangor Savings Bank grew its holdings in shares of Marriott International by 131.1% in 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. Roble Belko & Company Inc grew its stake in shares of Marriott International by 845.5% in the first quarter. Roble Belko & Company Inc now owns 104 shares of the company’s stock worth $26,000 after purchasing an additional 93 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in Marriott International during the 2nd quarter valued at about $28,000. Benjamin Edwards Inc. purchased a new stake in Marriott International in the 1st quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of Marriott International in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MAR shares. Morgan Stanley cut their price objective on Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised their price target on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Barclays increased their price objective 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. 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. Finally, Truist Financial dropped their price objective on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $242.39.

Marriott International Stock Performance

Shares of MAR traded up $1.14 during midday trading on Friday, hitting $225.26. 958,335 shares of the company traded hands, compared to its average volume of 1,489,193. The stock has a market cap of $64.34 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 4.24 and a beta of 1.60. The firm has a 50 day moving average of $233.81 and a 200-day moving average of $239.71. Marriott International, Inc. has a 52 week low of $180.75 and a 52 week high of $260.57.

Marriott International (NASDAQ:MAR) last announced its earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the previous year, the business earned $2.26 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts predict that Marriott International, Inc. will post 9.29 earnings per share for the current fiscal year.

Marriott International Announces Dividend

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

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.