Wedgewood Investors Inc. PA Acquires Shares of 3,592 Marriott International, Inc. (NASDAQ:MAR)

Wedgewood Investors Inc. PA bought a new stake in shares of Marriott International, Inc. (NASDAQ:MAR) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 3,592 shares of the company’s stock, valued at approximately $868,000. Marriott International comprises 1.0% of Wedgewood Investors Inc. PA’s holdings, making the stock its 28th biggest position.

Other hedge funds have also made changes to their positions in the company. CWM LLC increased its holdings in Marriott International by 4.5% in the fourth quarter. CWM LLC now owns 6,124 shares of the company’s stock valued at $1,381,000 after buying an additional 262 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in Marriott International during the fourth quarter worth $564,000. GAMMA Investing LLC acquired a new position in Marriott International in the fourth quarter worth $292,000. Yousif Capital Management LLC raised its holdings in shares of Marriott International by 12.8% during the fourth quarter. Yousif Capital Management LLC now owns 40,522 shares of the company’s stock worth $9,138,000 after purchasing an additional 4,593 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Marriott International by 4.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,425 shares of the company’s stock worth $1,449,000 after buying an additional 256 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MAR. Mizuho boosted their price objective on Marriott International from $260.00 to $265.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price target on shares of Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Morgan Stanley dropped their price objective on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Susquehanna assumed coverage on shares of Marriott International in a research report on Friday, June 21st. They issued a “neutral” rating and a $255.00 target price for the company. Finally, UBS Group cut their price target on Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $242.39.

Marriott International Stock Up 0.5 %

Shares of NASDAQ:MAR traded up $1.14 on Friday, reaching $225.26. The company had a trading volume of 958,335 shares, compared to its average volume of 1,489,193. The stock has a market capitalization of $64.34 billion, a P/E ratio of 23.25, a P/E/G ratio of 4.24 and a beta of 1.60. The stock has a 50-day moving average price of $233.81 and a 200 day moving average price of $239.71. Marriott International, Inc. has a twelve month low of $180.75 and a twelve month high of $260.57.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.01. The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. Marriott International’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.26 earnings per share. On average, sell-side analysts predict that Marriott International, Inc. will post 9.29 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

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