Marriott International (NASDAQ:MAR) Price Target Raised to $249.00

Marriott International (NASDAQ:MAR) had its target price upped by Barclays from $240.00 to $249.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts have also weighed in on MAR. JPMorgan Chase & Co. increased their target price on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Macquarie restated a “neutral” rating and issued a $245.00 target price on shares of Marriott International in a research report on Friday, August 2nd. Truist Financial reduced their price objective on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Morgan Stanley cut their target price on Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company raised their price target on Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $259.00.

Marriott International Stock Performance

NASDAQ:MAR opened at $280.80 on Tuesday. The company has a market capitalization of $78.03 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 6.05 and a beta of 1.58. Marriott International has a one year low of $192.27 and a one year high of $282.80. The stock has a 50-day simple moving average of $251.24 and a 200 day simple moving average of $240.26.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the prior year, the company earned $2.11 EPS. Marriott International’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Marriott International will post 9.27 EPS for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, November 21st. Marriott International’s dividend payout ratio is currently 26.36%.

Insider Buying and Selling at Marriott International

In related news, CAO Felitia Lee sold 916 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the sale, the chief accounting officer now directly owns 5,609 shares in the company, valued at approximately $1,550,776.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Marriott International news, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the transaction, the executive vice president now directly owns 12,286 shares in the company, valued at $3,372,384.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Felitia Lee sold 916 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total value of $253,255.68. Following the completion of the transaction, the chief accounting officer now directly owns 5,609 shares in the company, valued at $1,550,776.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Marriott International by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after purchasing an additional 192,652 shares during the last quarter. Capital International Investors increased its holdings in Marriott International by 4.7% in the 1st quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after buying an additional 149,378 shares during the period. National Pension Service increased its stake in Marriott International by 11.6% in the third quarter. National Pension Service now owns 719,613 shares of the company’s stock valued at $178,896,000 after acquiring an additional 74,832 shares during the period. Dimensional Fund Advisors LP raised its position in Marriott International by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 679,757 shares of the company’s stock worth $164,355,000 after purchasing an additional 33,149 shares in the last quarter. Finally, First Pacific Advisors LP boosted its holdings in Marriott International by 2.1% during the second quarter. First Pacific Advisors LP now owns 613,205 shares of the company’s stock valued at $148,255,000 after purchasing an additional 12,499 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

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.