Paloma Partners Management Co Acquires 788 Shares of Marriott International, Inc. (NASDAQ:MAR)

Paloma Partners Management Co boosted its holdings in Marriott International, Inc. (NASDAQ:MAR) by 15.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,967 shares of the company’s stock after purchasing an additional 788 shares during the period. Paloma Partners Management Co’s holdings in Marriott International were worth $1,506,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Marriott International during the fourth quarter worth about $461,525,000. Jennison Associates LLC increased its stake in shares of Marriott International by 34.8% in the fourth 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 stake in shares of Marriott International by 42.2% in the fourth 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 in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Marriott International in the first quarter worth $153,697,000. Finally, Public Employees Retirement Association of Colorado grew its stake in Marriott International by 557.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 496,505 shares of the company’s stock valued at $111,967,000 after acquiring an additional 420,962 shares in the last quarter. 70.70% of the stock is owned by institutional investors.

Marriott International Price Performance

NASDAQ MAR traded up $1.85 on Monday, hitting $238.45. The company had a trading volume of 1,335,713 shares, compared to its average volume of 1,444,315. The company has a market capitalization of $68.11 billion, a PE ratio of 24.61, a PEG ratio of 4.45 and a beta of 1.60. The company’s fifty day moving average price is $238.86 and its 200-day moving average price is $242.05. Marriott International, Inc. has a 12-month low of $180.75 and a 12-month high of $260.57.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The company had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.95 billion. During the same period in the previous year, the firm posted $2.09 EPS. Marriott International’s revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Marriott International, Inc. will post 9.56 EPS for the current year.

Marriott International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 24th were issued a dividend of $0.63 per share. This is a positive change from Marriott International’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, May 23rd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.06%. Marriott International’s dividend payout ratio is presently 26.01%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Susquehanna assumed coverage on shares of Marriott International in a research report on Friday, June 21st. They set a “neutral” rating and a $255.00 price objective for the company. Barclays lifted their price objective on shares of Marriott International from $240.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, July 17th. Robert W. Baird raised their target price on shares of Marriott International from $248.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Mizuho lifted their price objective on shares of Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company lowered their target price on shares of Marriott International from $250.00 to $248.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $243.59.

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.