Patten Group Inc. Sells 348 Shares of Marriott International, Inc. $MAR

Patten Group Inc. reduced its position in Marriott International, Inc. (NASDAQ:MAR) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,251 shares of the company’s stock after selling 348 shares during the quarter. Patten Group Inc.’s holdings in Marriott International were worth $1,981,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pallas Capital Advisors LLC grew its stake in Marriott International by 0.4% in the second quarter. Pallas Capital Advisors LLC now owns 8,649 shares of the company’s stock valued at $2,363,000 after purchasing an additional 37 shares during the last quarter. CreativeOne Wealth LLC grew its stake in Marriott International by 2.1% in the first quarter. CreativeOne Wealth LLC now owns 1,831 shares of the company’s stock valued at $436,000 after purchasing an additional 38 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in Marriott International by 0.3% in the first quarter. Motley Fool Asset Management LLC now owns 12,824 shares of the company’s stock valued at $3,055,000 after purchasing an additional 39 shares during the last quarter. Valmark Advisers Inc. grew its stake in Marriott International by 1.6% in the second quarter. Valmark Advisers Inc. now owns 2,462 shares of the company’s stock valued at $673,000 after purchasing an additional 39 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Marriott International by 1.7% in the first quarter. Geneos Wealth Management Inc. now owns 2,387 shares of the company’s stock valued at $569,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Stock Up 3.2%

Shares of NASDAQ MAR opened at $268.43 on Wednesday. The business’s 50 day moving average price is $265.63 and its 200 day moving average price is $260.54. The firm has a market cap of $72.87 billion, a P/E ratio of 30.26, a P/E/G ratio of 2.56 and a beta of 1.35. Marriott International, Inc. has a 52 week low of $205.40 and a 52 week high of $307.52.

Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, meeting analysts’ consensus estimates of $2.65. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.66 billion. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%.Marriott International’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 earnings per share. Marriott International has set its FY 2025 guidance at 9.850-10.080 EPS. Q3 2025 guidance at 2.310-2.390 EPS. As a group, research analysts expect that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International declared that its Board of Directors has initiated a share buyback plan on Thursday, August 7th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, August 21st were given a $0.67 dividend. The ex-dividend date was Thursday, August 21st. This represents a $2.68 dividend on an annualized basis and a yield of 1.0%. Marriott International’s dividend payout ratio is currently 30.21%.

Analysts Set New Price Targets

MAR has been the topic of several analyst reports. Barclays cut their target price on Marriott International from $276.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, October 3rd. Robert W. Baird dropped their price target on Marriott International from $287.00 to $285.00 and set a “neutral” rating on the stock in a research note on Tuesday. BMO Capital Markets dropped their price target on Marriott International from $285.00 to $280.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Marriott International in a research note on Wednesday, October 8th. Finally, Truist Financial boosted their price target on Marriott International from $273.00 to $278.00 and gave the stock a “hold” rating in a research note on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $281.56.

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, City Express by Marriott, and St.