BayBridge Capital Group LLC Invests $1.25 Million in Marriott International, Inc. (NASDAQ:MAR)

BayBridge Capital Group LLC purchased a new position in Marriott International, Inc. (NASDAQ:MAR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,043 shares of the company’s stock, valued at approximately $1,254,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MAR. Burke & Herbert Bank & Trust Co. boosted its position in shares of Marriott International by 26.0% during the third quarter. Burke & Herbert Bank & Trust Co. now owns 3,849 shares of the company’s stock valued at $957,000 after buying an additional 794 shares during the period. Dakota Wealth Management lifted its stake in shares of Marriott International by 2.4% during the 3rd quarter. Dakota Wealth Management now owns 7,661 shares of the company’s stock worth $1,904,000 after acquiring an additional 183 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Marriott International by 1,621.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 86,328 shares of the company’s stock valued at $21,461,000 after acquiring an additional 81,313 shares during the last quarter. Lafayette Investments Inc. increased its stake in Marriott International by 9.7% in the third quarter. Lafayette Investments Inc. now owns 1,781 shares of the company’s stock worth $443,000 after purchasing an additional 157 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of Marriott International by 63.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 9,065 shares of the company’s stock worth $2,254,000 after purchasing an additional 3,523 shares during the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on MAR. UBS Group decreased their price objective on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Wells Fargo & Company boosted their price target on Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a report on Tuesday. Truist Financial reduced their price objective on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their target price on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Bank of America upped their price target on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $256.39.

Marriott International Stock Performance

Shares of MAR stock opened at $262.12 on Friday. Marriott International, Inc. has a fifty-two week low of $180.75 and a fifty-two week high of $266.58. The firm has a market capitalization of $74.87 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 6.36 and a beta of 1.59. The stock’s 50-day simple moving average is $242.52 and its 200-day simple moving average is $238.81.

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

Marriott International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Friday, August 16th. Marriott International’s dividend payout ratio is presently 26.01%.

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.