Jessup Wealth Management Inc Has $567,000 Holdings in Marriott International, Inc. (NASDAQ:MAR)

Jessup Wealth Management Inc cut its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 3.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,282 shares of the company’s stock after selling 72 shares during the quarter. Jessup Wealth Management Inc’s holdings in Marriott International were worth $567,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MAR. BDF Gestion bought a new position in shares of Marriott International during the second quarter worth about $3,013,000. CWM LLC grew its holdings in Marriott International by 518.7% during the 2nd quarter. CWM LLC now owns 47,519 shares of the company’s stock worth $11,489,000 after acquiring an additional 39,839 shares during the period. Taylor Financial Group Inc. acquired a new position in Marriott International in the fourth quarter valued at approximately $1,122,000. Paloma Partners Management Co acquired a new stake in Marriott International in the fourth quarter worth $1,168,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Marriott International during the 2nd quarter worth $3,844,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Price Performance

NASDAQ MAR traded up $2.49 during trading hours on Friday, reaching $263.03. 97,732 shares of the company’s stock traded hands, compared to its average volume of 1,486,007. Marriott International, Inc. has a 52-week low of $180.75 and a 52-week high of $263.20. The firm has a 50-day simple moving average of $233.17 and a 200 day simple moving average of $238.03. The firm has a market cap of $74.05 billion, a PE ratio of 26.05, a PEG ratio of 6.15 and a beta of 1.59.

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

Marriott International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 16th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, August 16th. Marriott International’s dividend payout ratio (DPR) is currently 25.20%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MAR shares. Wells Fargo & Company lowered their price target on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Macquarie reaffirmed a “neutral” rating and set a $245.00 target price on shares of Marriott International in a report on Friday, August 2nd. Susquehanna initiated coverage on Marriott International in a research report on Friday, June 21st. They set a “neutral” rating and a $255.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Finally, Barclays increased their price target on shares of Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 17th. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $248.65.

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.