Creative Planning Raises Position in Marriott International, Inc. (NASDAQ:MAR)

Creative Planning boosted its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,322 shares of the company’s stock after buying an additional 3,840 shares during the period. Creative Planning’s holdings in Marriott International were worth $24,194,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bangor Savings Bank raised its stake in Marriott International by 131.1% in the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock valued at $25,000 after purchasing an additional 59 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Marriott International during the second quarter worth $26,000. MFA Wealth Advisors LLC purchased a new position in shares of Marriott International in the second quarter worth about $28,000. Annapolis Financial Services LLC purchased a new stake in Marriott International during the 1st quarter valued at about $34,000. Finally, Unique Wealth Strategies LLC purchased a new position in Marriott International in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial reduced their price objective on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Sanford C. Bernstein raised shares of Marriott International from a “market perform” rating to an “outperform” rating and increased their price target for the company from $247.00 to $262.00 in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, 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. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $249.41.

Marriott International Stock Up 0.4 %

NASDAQ:MAR opened at $265.60 on Monday. The company has a market cap of $75.86 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 6.15 and a beta of 1.59. Marriott International, Inc. has a 52 week low of $180.75 and a 52 week high of $266.58. The company has a fifty day simple moving average of $238.95 and a two-hundred day simple moving average of $238.33.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the prior year, the business earned $2.26 EPS. Marriott International’s revenue was up 6.0% on a year-over-year basis. On average, analysts expect that Marriott International, Inc. will post 9.37 EPS for the current year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 16th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Friday, August 16th. Marriott International’s dividend payout ratio is presently 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.