Martin Taylor’s Crake Asset Management Portfolio: Top 5 Stock Picks

3. Marriott International, Inc. (NASDAQ:MAR)

Percentage of Crake Asset Management’s 13F Portfolio: 11.19%

Number of Hedge Fund Holders: 49

Marriott International, Inc. (NASDAQ:MAR) is an American multinational corporation that owns, manages, and operates hotel, residential, vacation, and timeshare properties. Marriott International, Inc. (NASDAQ:MAR) owns 30 flagship brands across 130 countries, including The Ritz-Carlton, Bulgari Hotels & Resorts, Marriott Hotels & Resorts, and St. Regis Hotels & Resorts, among others. 

Marriott International, Inc. (NASDAQ:MAR) announced on November 3 its Q3 results. EPS for the period came in at $0.99, in line with analysts’ consensus estimates. Revenue for Marriott International, Inc. (NASDAQ:MAR) totaled $3.95 billion, up 75.07% year-over-year. 

Wells Fargo analyst Dori Kesten raised the firm’s price target on November 8 to $185 from $171, keeping an Overweight rating on Marriott International, Inc. (NASDAQ:MAR) following the Q3 earnings.

Here is what Artisan Partners has to say about Marriott International, Inc. (NASDAQ:MAR) in its Q2 2021 investor letter:

“Hotel operator Marriott had performed well in the pandemic reopening trade. Their subsequent weakness reflects that trade’s slowing momentum in Q2 as virus variants surged globally and rising uncertainty weighed on economic growth expectations. Still, we remain confident in this business. Each are leaders in their respective industries with wide moats and superior business economics. Each is led by a battle-tested management team we believe is executing well on an appropriately set strategy to deliver shareholder value. They are carefully and wisely financed, and they have undemanding valuations based on normalized earnings power.”