Park Avenue Securities LLC Purchases Shares of 3,551 Marriott International, Inc. $MAR

Key Points

• Park Avenue Securities LLC acquired 3,551 shares of Marriott International, valued at approximately $970,000, in the 2nd quarter of 2023.
• Marriott International reported a quarterly revenue of $6.74 billion, exceeding analysts' expectations of $6.66 billion, alongside earnings per share of $2.65.
• The company's Board of Directors authorized a stock repurchase program allowing the repurchase of 25 million shares, indicating the leadership's belief that the stock is currently undervalued.

Park Avenue Securities LLC acquired a new stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,551 shares of the company's stock, valued at approximately $970,000.

Other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc bought a new position in shares of Marriott International in the 1st quarter valued at about $30,000. Sound Income Strategies LLC grew its holdings in shares of Marriott International by 46.7% in the 1st quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock valued at $37,000 after acquiring an additional 50 shares in the last quarter. Center for Financial Planning Inc. grew its holdings in shares of Marriott International by 468.6% in the 1st 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 in the last quarter. Banque Transatlantique SA bought a new position in Marriott International during the first quarter worth about $52,000. Finally, McClarren Financial Advisors Inc. bought a new position in Marriott International during the first quarter worth about $57,000. Institutional investors own 70.70% of the company's stock.

Marriott International Stock Performance

Shares of NASDAQ:MAR opened at $264.21 on Friday. The company has a fifty day moving average of $266.25 and a 200-day moving average of $257.48. The company has a market capitalization of $71.72 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 2.57 and a beta of 1.38. Marriott International, Inc. has a 52-week low of $205.40 and a 52-week high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, hitting the consensus estimate of $2.65. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The company had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.66 billion. During the same quarter in the previous year, the firm posted $2.50 earnings per share. Marriott International's revenue for the quarter 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. On average, equities analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 7th that allows the company to repurchase 25,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Marriott International Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MAR. JPMorgan Chase & Co. began coverage on Marriott International in a report on Monday, June 23rd. They set a "neutral" rating and a $284.00 price target for the company. BMO Capital Markets reduced their price target on Marriott International from $285.00 to $280.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. Truist Financial lifted their price target on shares of Marriott International from $273.00 to $278.00 and gave the company a "hold" rating in a research report on Wednesday, September 3rd. Finally, Robert W. Baird lifted their price target on shares of Marriott International from $285.00 to $287.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $281.26.

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, City Express by Marriott, and St.

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