Kornitzer Capital Management Inc. KS Has $8.03 Million Holdings in Marriott International, Inc. (NASDAQ:MAR)

Kornitzer Capital Management Inc. KS decreased its position in Marriott International, Inc. (NASDAQ:MAR) by 14.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,229 shares of the company’s stock after selling 5,801 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Marriott International were worth $8,034,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bangor Savings Bank boosted its position in Marriott International by 131.1% during the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after purchasing an additional 59 shares during the period. Roble Belko & Company Inc lifted its position in Marriott International by 845.5% during the 1st quarter. Roble Belko & Company Inc now owns 104 shares of the company’s stock worth $26,000 after acquiring an additional 93 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in Marriott International during the second quarter valued at about $26,000. MFA Wealth Advisors LLC bought a new position in shares of Marriott International in the second quarter worth about $28,000. Finally, Benjamin Edwards Inc. bought a new stake in Marriott International during the 1st quarter valued at approximately $29,000. Institutional investors own 70.70% of the company’s stock.

Marriott International Trading Down 0.2 %

Shares of MAR stock opened at $229.06 on Friday. Marriott International, Inc. has a 1 year low of $180.75 and a 1 year high of $260.57. The firm’s 50 day moving average is $231.35 and its 200-day moving average is $238.96. The firm has a market capitalization of $65.42 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 5.51 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $2.26 EPS. On average, equities research analysts forecast that Marriott International, Inc. will post 9.37 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 1.10%. Marriott International’s payout ratio is presently 26.01%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MAR. JPMorgan Chase & Co. upped their price target on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Sanford C. Bernstein raised Marriott International from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $247.00 to $262.00 in a research report on Thursday, August 29th. UBS Group reduced their price objective on Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Finally, Robert W. Baird lowered their price objective on Marriott International from $252.00 to $245.00 and set a “neutral” rating on the stock in a research report on Thursday, August 1st. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $244.44.

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.