Marriott International (NASDAQ:MAR) Reaches New 12-Month High – Here’s What Happened

Marriott International, Inc. (NASDAQ:MAR) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $264.56 and last traded at $264.08, with a volume of 7753 shares trading hands. The stock had previously closed at $262.57.

Wall Street Analysts Forecast Growth

MAR has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company lowered their price objective on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Barclays increased their price objective on shares of Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 17th. Truist Financial decreased their target price on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Finally, Morgan Stanley decreased their target price on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $248.65.

Marriott International Stock Up 0.1 %

The business’s fifty day moving average is $237.02 and its two-hundred day moving average is $238.19. The stock has a market capitalization of $75.05 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 6.15 and a beta of 1.59.

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

Marriott International Dividend Announcement

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

Institutional Trading of Marriott International

Institutional investors and hedge funds have recently made changes to their positions in the business. BDF Gestion bought a new stake in shares of Marriott International during the second quarter worth $3,013,000. CWM LLC lifted its position in shares of Marriott International by 518.7% during the second quarter. CWM LLC now owns 47,519 shares of the company’s stock worth $11,489,000 after purchasing an additional 39,839 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Marriott International during the second quarter worth $3,844,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Marriott International by 1.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 39,751 shares of the company’s stock valued at $9,611,000 after acquiring an additional 753 shares in the last quarter. Finally, Concord Investment Counsel Inc. bought a new stake in shares of Marriott International in the first quarter valued at about $5,879,000. 70.70% of the stock is currently owned by institutional investors.

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.