Mechanics Financial Corp Sells 1,023 Shares of Marriott International, Inc. $MAR

Key Points

• Mechanics Financial Corp sold 1,023 shares of Marriott International, reducing its stake by 20.5%, bringing its total holdings to 3,957 shares worth approximately $1.08 million.
• Marriott International reported quarterly earnings of $2.65 EPS, meeting analysts' expectations, with a net margin of 9.60% and Q2 revenue of $6.74 billion.
• The company has initiated a stock repurchase plan for 25 million shares, which is often interpreted as a sign that management believes the stock is undervalued.

Mechanics Financial Corp reduced its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 20.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,957 shares of the company's stock after selling 1,023 shares during the quarter. Mechanics Financial Corp's holdings in Marriott International were worth $1,081,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MAR. Morse Asset Management Inc bought a new stake in shares of Marriott International during the first quarter valued at approximately $30,000. Sound Income Strategies LLC boosted its stake in Marriott International by 46.7% in the first quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock valued at $37,000 after acquiring an additional 50 shares during the last quarter. Center for Financial Planning Inc. boosted its stake in Marriott International by 468.6% in the first quarter. Center for Financial Planning Inc. now owns 199 shares of the company's stock valued at $47,000 after acquiring an additional 164 shares during the last quarter. Banque Transatlantique SA bought a new position in Marriott International in the first quarter valued at approximately $52,000. Finally, McClarren Financial Advisors Inc. bought a new position in Marriott International in the first quarter valued at approximately $57,000. 70.70% of the stock is owned by institutional investors.

Marriott International Stock Up 1.8%

Shares of NASDAQ:MAR opened at $266.40 on Friday. Marriott International, Inc. has a 12 month low of $205.40 and a 12 month high of $307.52. The company's fifty day simple moving average is $265.54 and its 200 day simple moving average is $258.05. The firm has a market cap of $72.32 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.58 and a beta of 1.35.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, hitting analysts' consensus estimates of $2.65. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same period last year, the business posted $2.50 earnings per share. The firm's quarterly revenue was up 4.7% on a year-over-year basis. Marriott International has set its FY 2025 guidance at 9.850-10.080 EPS. Q3 2025 guidance at 2.310-2.390 EPS. Research analysts expect that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 7th that allows the company to repurchase 25,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Thursday, August 21st were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, August 21st. Marriott International's payout ratio is presently 30.21%.

Analysts Set New Price Targets

MAR has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Marriott International in a research note on Monday, June 23rd. They issued a "neutral" rating and a $284.00 price objective on the stock. Truist Financial raised their price objective on shares of Marriott International from $273.00 to $278.00 and gave the company a "hold" rating in a research note on Wednesday, September 3rd. BMO Capital Markets cut their target price on shares of Marriott International from $285.00 to $280.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. Finally, Robert W. Baird increased their target price on shares of Marriott International from $285.00 to $287.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $281.26.

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.

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