BDF Gestion Buys New Position in Marriott International, Inc. (NASDAQ:MAR)

BDF Gestion purchased a new position in shares of Marriott International, Inc. (NASDAQ:MAR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,461 shares of the company’s stock, valued at approximately $3,013,000.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in Marriott International by 1.8% during the 1st quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after purchasing an additional 192,652 shares during the period. Jennison Associates LLC boosted its stake in Marriott International by 34.8% in the 4th quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock worth $1,025,416,000 after purchasing an additional 1,173,028 shares in the last quarter. Capital International Investors increased its position in shares of Marriott International by 4.7% during the 1st quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after purchasing an additional 149,378 shares during the last quarter. Parnassus Investments LLC increased its position in shares of Marriott International by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 2,457,382 shares of the company’s stock valued at $554,164,000 after purchasing an additional 7,135 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Marriott International during the 4th quarter valued at about $461,525,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Stock Up 1.0 %

Shares of Marriott International stock traded up $2.17 on Friday, reaching $217.97. 1,191,690 shares of the stock were exchanged, compared to its average volume of 1,517,678. Marriott International, Inc. has a twelve month low of $180.75 and a twelve month high of $260.57. The firm has a market capitalization of $62.26 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 4.24 and a beta of 1.60. The business has a 50 day moving average price of $236.55 and a two-hundred day moving average price of $241.36.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. The company had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. Marriott International’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.26 earnings per share. Research analysts forecast that Marriott International, Inc. will post 9.29 EPS for the current year.

Marriott International Announces Dividend

The company 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. This represents a $2.52 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, August 16th. Marriott International’s payout ratio is 26.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MAR. 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 report on Thursday, August 1st. Mizuho raised their price target on Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Macquarie restated a “neutral” rating and issued a $245.00 price target on shares of Marriott International in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Susquehanna began coverage on Marriott International in a research report on Friday, June 21st. They set a “neutral” rating and a $255.00 target price for the company. Fifteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Marriott International has an average rating of “Hold” and a consensus target price of $241.89.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.