Cidel Asset Management Inc. Increases Stake in Marriott International, Inc. $MAR

Key Points

• Cidel Asset Management Inc. increased its stake in Marriott International by 25.6% during the 2nd quarter, now holding 88,167 shares worth approximately $24.1 million.
• Marriott International's quarterly earnings reported an EPS of $2.65, matching analysts' expectations, with revenues rising 4.7% year-over-year to $6.74 billion.
• The company's Board of Directors authorized a $25 million share buyback program, indicating confidence in the stock's current value.

Cidel Asset Management Inc. grew its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 25.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 88,167 shares of the company's stock after buying an additional 17,974 shares during the quarter. Marriott International accounts for approximately 1.4% of Cidel Asset Management Inc.'s portfolio, making the stock its 24th biggest position. Cidel Asset Management Inc.'s holdings in Marriott International were worth $24,088,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MAR. Morse Asset Management Inc purchased a new stake in Marriott International during the first quarter worth approximately $30,000. Center for Financial Planning Inc. lifted its stake in Marriott International by 468.6% during the first quarter. Center for Financial Planning Inc. now owns 199 shares of the company's stock worth $47,000 after purchasing an additional 164 shares during the last quarter. Banque Transatlantique SA purchased a new stake in Marriott International during the first quarter worth approximately $52,000. McClarren Financial Advisors Inc. purchased a new stake in Marriott International during the first quarter worth approximately $57,000. Finally, Creative Capital Management Investments LLC purchased a new stake in Marriott International during the second quarter worth approximately $70,000. Hedge funds and other institutional investors own 70.70% of the company's stock.

Analyst Ratings Changes

MAR has been the subject of a number of research reports. Robert W. Baird boosted their price objective on Marriott International from $285.00 to $287.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. BMO Capital Markets reduced their price objective on Marriott International from $285.00 to $280.00 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. Truist Financial boosted their price objective on Marriott International from $273.00 to $278.00 and gave the company a "hold" rating in a research note on Wednesday, September 3rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Marriott International in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. initiated coverage on Marriott International in a research note on Monday, June 23rd. They issued a "neutral" rating and a $284.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Marriott International has an average rating of "Moderate Buy" and a consensus price target of $282.63.

Marriott International Price Performance

Marriott International stock opened at $260.85 on Friday. Marriott International, Inc. has a 12 month low of $205.40 and a 12 month high of $307.52. The business has a 50 day simple moving average of $265.52 and a 200-day simple moving average of $259.92. The stock has a market capitalization of $70.81 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 2.57 and a beta of 1.35.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, hitting the consensus estimate of $2.65. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%.The business had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.66 billion. During the same quarter in the prior year, the business earned $2.50 earnings per share. The company's quarterly revenue was up 4.7% compared to the same quarter last year. Marriott International has set its FY 2025 guidance at 9.850-10.080 EPS. Q3 2025 guidance at 2.310-2.390 EPS. As a group, equities research analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International declared that its Board of Directors has authorized a share buyback program on Thursday, August 7th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Marriott International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, August 21st were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 21st. Marriott International's dividend payout ratio is currently 30.21%.

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.

Want to see what other hedge funds are holding MAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marriott International, Inc. (NASDAQ:MAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.