Cassaday & Co Wealth Management LLC Has $20.70 Million Holdings in Marriott International, Inc. $MAR

Cassaday & Co Wealth Management LLC increased its stake in Marriott International, Inc. (NASDAQ:MAR) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,751 shares of the company’s stock after buying an additional 1,220 shares during the quarter. Marriott International makes up 0.5% of Cassaday & Co Wealth Management LLC’s holdings, making the stock its 22nd biggest position. Cassaday & Co Wealth Management LLC’s holdings in Marriott International were worth $20,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MAR. Alliancebernstein L.P. boosted its holdings in shares of Marriott International by 194.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,709,665 shares of the company’s stock valued at $407,242,000 after buying an additional 1,129,555 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Marriott International during the 2nd quarter valued at $266,084,000. Wellington Management Group LLP lifted its holdings in Marriott International by 16.4% during the 1st quarter. Wellington Management Group LLP now owns 5,427,410 shares of the company’s stock valued at $1,292,809,000 after purchasing an additional 766,309 shares during the last quarter. Nuveen LLC acquired a new stake in Marriott International during the 1st quarter valued at $166,059,000. Finally, Invesco Ltd. lifted its holdings in Marriott International by 18.9% during the 1st quarter. Invesco Ltd. now owns 4,123,836 shares of the company’s stock valued at $982,298,000 after purchasing an additional 654,766 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Stock Performance

Shares of NASDAQ MAR opened at $263.89 on Tuesday. Marriott International, Inc. has a 52 week low of $205.40 and a 52 week high of $307.52. The stock has a market capitalization of $71.64 billion, a P/E ratio of 29.75, a PEG ratio of 2.69 and a beta of 1.36. The stock’s fifty day moving average is $265.56 and its 200 day moving average is $263.96.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, hitting analysts’ consensus estimates of $2.65. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%.The company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter last year, the business earned $2.50 earnings per share. Marriott International’s revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International declared that its board has initiated a share buyback plan 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. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Marriott International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, August 21st were given a $0.67 dividend. The ex-dividend date was Thursday, August 21st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.0%. Marriott International’s dividend payout ratio (DPR) is presently 30.21%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MAR. Morgan Stanley cut their price target on Marriott International from $302.00 to $296.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Barclays cut their price target on Marriott International from $276.00 to $262.00 and set an “equal weight” rating for the company in a report on Friday, October 3rd. BMO Capital Markets dropped their target price 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. Robert W. Baird dropped their target price on Marriott International from $287.00 to $285.00 and set a “neutral” rating for the company in a report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Marriott International in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $283.17.

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.