Seven Eight Capital LP Purchases New Shares in Marriott International, Inc. (NASDAQ:MAR)

Seven Eight Capital LP purchased a new stake in Marriott International, Inc. (NASDAQ:MAR) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,532 shares of the company’s stock, valued at approximately $2,063,000.

A number of other institutional investors have also made changes to their positions in the business. Capital International Investors raised its holdings in Marriott International by 42.2% during the 4th quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock worth $709,793,000 after purchasing an additional 934,304 shares during the last quarter. Global Assets Advisory LLC bought a new stake in Marriott International during the 1st quarter worth about $153,697,000. Public Employees Retirement Association of Colorado raised its holdings in Marriott International by 557.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 496,505 shares of the company’s stock worth $111,967,000 after purchasing an additional 420,962 shares during the last quarter. Pathstone Holdings LLC bought a new stake in Marriott International during the 4th quarter worth about $46,187,000. Finally, JPMorgan Chase & Co. raised its holdings in Marriott International by 1.8% during the 1st quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock worth $2,678,750,000 after purchasing an additional 192,652 shares during the last quarter. 70.70% of the stock is owned by institutional investors.

Marriott International Stock Up 1.3 %

NASDAQ:MAR opened at $238.74 on Thursday. Marriott International, Inc. has a twelve month low of $180.75 and a twelve month high of $260.57. The business has a 50 day moving average price of $229.67 and a two-hundred day moving average price of $237.85. The company has a market cap of $68.19 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 5.34 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results 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. 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 the consensus estimate of $6.47 billion. During the same quarter in the prior year, the firm posted $2.26 EPS. The business’s revenue was up 6.0% on a year-over-year basis. As a group, analysts anticipate that Marriott International, Inc. will post 9.37 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, August 16th. Marriott International’s dividend payout ratio (DPR) is currently 26.01%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group began coverage on Marriott International in a report on Wednesday. They set a “buy” rating and a $267.00 price objective for the company. Macquarie reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Marriott International in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Barclays upped their price target on Marriott International from $240.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 17th. Finally, Sanford C. Bernstein raised Marriott International from a “market perform” rating to an “outperform” rating and upped their price target for the company from $247.00 to $262.00 in a research note on Thursday, August 29th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Marriott International currently has a consensus rating of “Hold” and an average price target of $247.33.

Marriott International Company 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, City Express by Marriott, and St.