Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN reduced its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 32.1% during the third quarter, Holdings Channel.com reports. The fund owned 4,262 shares of the company’s stock after selling 2,019 shares during the quarter. Patten & Patten Inc. TN’s holdings in Marriott International were worth $1,060,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BDF Gestion acquired a new position in shares of Marriott International in the 2nd quarter valued at $3,013,000. Jensen Investment Management Inc. acquired a new position in shares of Marriott International in the 3rd quarter valued at $793,000. CWM LLC boosted its position in shares of Marriott International by 518.7% in the 2nd quarter. CWM LLC now owns 47,519 shares of the company’s stock valued at $11,489,000 after purchasing an additional 39,839 shares during the period. BayBridge Capital Group LLC acquired a new position in shares of Marriott International in the 3rd quarter valued at $1,254,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Marriott International in the 2nd quarter valued at $3,844,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Marriott International Stock Performance

Shares of MAR stock opened at $285.91 on Tuesday. The stock’s 50 day simple moving average is $251.24 and its 200 day simple moving average is $240.23. Marriott International, Inc. has a twelve month low of $196.24 and a twelve month high of $286.19. The company has a market capitalization of $79.45 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 6.15 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.05). The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.11 earnings per share. On average, analysts forecast that Marriott International, Inc. will post 9.27 EPS for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, November 21st. Marriott International’s dividend payout ratio is currently 26.36%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Robert W. Baird raised their price objective on Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Wells Fargo & Company raised their price objective on Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Mizuho raised their price objective on Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley decreased their price objective on Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $259.00.

Insiders Place Their Bets

In other news, EVP Benjamin T. Breland sold 500 shares of Marriott International stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the sale, the executive vice president now owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Benjamin T. Breland sold 500 shares of Marriott International stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the sale, the executive vice president now owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Felitia Lee sold 916 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total value of $253,255.68. Following the completion of the sale, the chief accounting officer now directly owns 5,609 shares in the company, valued at approximately $1,550,776.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.32% of the company’s stock.

Marriott International 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.