Patten & Patten Inc. TN Continues to Hold Stake in Marriott International (NASDAQ:MAR)
Patten & Patten Inc. TN maintained its position in Marriott International (NASDAQ:MAR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,611 shares of the company’s stock at the end of the second quarter. Patten & Patten Inc. TN’s holdings in Marriott International were worth $663,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. Aperio Group LLC raised its stake in shares of Marriott International by 6.3% in the second quarter. Aperio Group LLC now owns 196,439 shares of the company’s stock valued at $19,705,000 after buying an additional 11,569 shares during the last quarter. Glenview State Bank Trust DEPT. bought a new stake in shares of Marriott International during the second quarter valued at about $201,000. North Star Investment Management Corp. raised its stake in shares of Marriott International by 3.3% in the second quarter. North Star Investment Management Corp. now owns 1,583 shares of the company’s stock valued at $159,000 after buying an additional 50 shares during the last quarter. Windward Capital Management Co. CA raised its stake in shares of Marriott International by 0.4% in the second quarter. Windward Capital Management Co. CA now owns 144,597 shares of the company’s stock valued at $14,504,000 after buying an additional 519 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Marriott International by 185.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 95,663 shares of the company’s stock valued at $9,596,000 after buying an additional 62,200 shares during the last quarter. 66.98% of the stock is currently owned by hedge funds and other institutional investors.
Marriott International (MAR) traded up 0.23% on Thursday, hitting $102.48. 316,508 shares of the stock were exchanged. Marriott International has a 12 month low of $65.91 and a 12 month high of $110.51. The firm has a market cap of $38.83 billion, a P/E ratio of 36.30 and a beta of 1.35. The company has a 50-day moving average of $103.19 and a 200 day moving average of $94.16.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Monday, May 8th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.11. The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Marriott International had a net margin of 4.91% and a return on equity of 38.10%. The company’s revenue for the quarter was up 47.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 earnings per share. Equities research analysts expect that Marriott International will post $4.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, May 19th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This is a boost from Marriott International’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.29%. Marriott International’s dividend payout ratio is 47.48%.
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Several equities research analysts have recently issued reports on MAR shares. J P Morgan Chase & Co restated an “overweight” rating and set a $111.00 price target on shares of Marriott International in a research note on Friday, May 12th. Stifel Nicolaus raised their price target on shares of Marriott International from $84.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, March 22nd. Zacks Investment Research upgraded shares of Marriott International from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Tuesday, May 16th. Goldman Sachs Group, Inc. (The) lowered shares of Marriott International from a “conviction-buy” rating to a “buy” rating and set a $105.00 price target for the company. in a research note on Tuesday, April 11th. Finally, Canaccord Genuity restated a “buy” rating and set a $113.00 price target (up previously from $100.00) on shares of Marriott International in a research note on Monday, May 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $97.97.
In related news, Director Mary K. Bush sold 1,200 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $100.89, for a total transaction of $121,068.00. Following the completion of the transaction, the director now directly owns 1,101 shares of the company’s stock, valued at $111,079.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Blake Marriott sold 3,733 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $107.44, for a total transaction of $401,073.52. Following the transaction, the insider now directly owns 145,601 shares of the company’s stock, valued at $15,643,371.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,117 shares of company stock valued at $5,685,295. Corporate insiders own 17.07% of the company’s stock.
About Marriott International
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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