Marriott International (NASDAQ:MAR) Given New $248.00 Price Target at Wells Fargo & Company

Marriott International (NASDAQ:MAR) had its price objective trimmed by Wells Fargo & Company from $250.00 to $248.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

MAR has been the subject of a number of other research reports. BMO Capital Markets upped their price objective on Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a report on Thursday. UBS Group increased their price target on shares of Marriott International from $210.00 to $259.00 and gave the company a neutral rating in a research report on Wednesday, February 28th. Mizuho boosted their price objective on shares of Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a report on Thursday. Truist Financial increased their target price on shares of Marriott International from $233.00 to $263.00 and gave the stock a hold rating in a report on Wednesday, February 14th. Finally, Barclays boosted their price target on shares of Marriott International from $239.00 to $240.00 and gave the company an equal weight rating in a report on Friday, April 19th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Marriott International currently has a consensus rating of Hold and an average price target of $241.33.

Marriott International Stock Performance

NASDAQ:MAR traded down $0.97 on Thursday, hitting $234.59. 1,572,856 shares of the stock were exchanged, compared to its average volume of 1,539,790. The stock has a market capitalization of $67.00 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 5.24 and a beta of 1.61. Marriott International has a 52 week low of $165.13 and a 52 week high of $260.57. The company’s 50-day moving average price is $247.40 and its 200 day moving average price is $228.39.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.95 billion. Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. Marriott International’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.09 earnings per share. As a group, equities research analysts predict that Marriott International will post 9.49 earnings per share for the current year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.52 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.08 annualized dividend and a dividend yield of 0.89%. Marriott International’s dividend payout ratio is currently 21.47%.

Insider Transactions at Marriott International

In other news, Director Eric Hippeau sold 1,400 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total transaction of $351,666.00. Following the completion of the transaction, the director now directly owns 72 shares in the company, valued at approximately $18,085.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Eric Hippeau sold 1,400 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total value of $351,666.00. Following the completion of the sale, the director now owns 72 shares of the company’s stock, valued at approximately $18,085.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David S. Marriott sold 2,878 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $248.94, for a total transaction of $716,449.32. Following the sale, the insider now directly owns 596,042 shares in the company, valued at $148,378,695.48. The disclosure for this sale can be found here. Insiders have sold a total of 125,003 shares of company stock valued at $30,435,493 over the last 90 days. 12.32% of the stock is owned by corporate insiders.

Institutional Trading of Marriott International

Institutional investors and hedge funds have recently bought and sold shares of the business. Parnassus Investments LLC bought a new stake in shares of Marriott International during the 3rd quarter worth about $481,621,000. Norges Bank acquired a new position in shares of Marriott International in the fourth quarter valued at approximately $461,525,000. FMR LLC increased its stake in shares of Marriott International by 16.1% during the third quarter. FMR LLC now owns 8,634,610 shares of the company’s stock worth $1,697,219,000 after purchasing an additional 1,194,665 shares during the period. Jennison Associates LLC lifted its holdings in Marriott International by 34.8% during the 4th quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock worth $1,025,416,000 after purchasing an additional 1,173,028 shares during the last quarter. Finally, Capital International Investors grew its holdings in Marriott International by 42.2% in the 4th quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock valued at $709,793,000 after buying an additional 934,304 shares in the last quarter. Institutional investors own 70.70% of the company’s stock.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.