Frank Rimerman Advisors LLC Buys 5,897 Shares of Marriott International, Inc. (NASDAQ:MAR)

Frank Rimerman Advisors LLC grew its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 8,934.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,963 shares of the company’s stock after acquiring an additional 5,897 shares during the period. Frank Rimerman Advisors LLC’s holdings in Marriott International were worth $1,442,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bangor Savings Bank grew its stake in shares of Marriott International by 131.1% during the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after acquiring an additional 59 shares during the period. Roble Belko & Company Inc boosted its position in Marriott International by 845.5% during 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 period. Hantz Financial Services Inc. bought a new stake in shares of Marriott International in the second quarter valued at approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of Marriott International during the 2nd quarter valued at approximately $28,000. Finally, Benjamin Edwards Inc. purchased a new position in Marriott International in the 1st quarter valued at approximately $29,000. Institutional investors own 70.70% of the company’s stock.

Analysts Set New Price Targets

MAR has been the topic of several recent research reports. Robert W. Baird dropped their target price on Marriott International from $252.00 to $245.00 and set a “neutral” rating on the stock in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Macquarie reissued a “neutral” rating and issued a $245.00 price target on shares of Marriott International in a report on Friday, August 2nd. Truist Financial reduced their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Finally, Susquehanna started coverage on shares of Marriott International in a report on Friday, June 21st. They issued a “neutral” rating and a $255.00 price target for the company. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Marriott International has an average rating of “Hold” and a consensus target price of $248.65.

Marriott International Price Performance

Shares of NASDAQ MAR opened at $244.39 on Monday. The stock has a market capitalization of $69.80 billion, a P/E ratio of 25.22, a PEG ratio of 5.34 and a beta of 1.59. Marriott International, Inc. has a one year low of $180.75 and a one year high of $260.57. The firm’s 50 day simple moving average is $229.80 and its two-hundred day simple moving average is $237.74.

Marriott International (NASDAQ:MAR) last issued 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 net margin of 12.01% and a negative return on equity of 239.60%. The company had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter last year, the company earned $2.26 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts expect that Marriott International, Inc. will post 9.37 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. Investors of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 1.03%. Marriott International’s payout ratio is 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, City Express by Marriott, and St.