Marriott International (NASDAQ:MAR – Free Report) had its price objective lifted by The Goldman Sachs Group from $406.00 to $456.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.
Several other equities research analysts have also commented on the company. Robert W. Baird upped their price objective on Marriott International from $395.00 to $414.00 and gave the stock a “neutral” rating in a research note on Tuesday. Truist Financial lifted their target price on Marriott International from $356.00 to $360.00 and gave the company a “hold” rating in a research report on Thursday, September 10th. CICC Research started coverage on Marriott International in a report on Wednesday, August 12th. They set an “outperform” rating and a $410.00 price target for the company. Mizuho reduced their price target on Marriott International from $384.00 to $374.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Finally, BMO Capital Markets decreased their price objective on Marriott International from $410.00 to $395.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $394.48.
Get Our Latest Analysis on MAR
Marriott International Stock Down 1.8%
NASDAQ MAR opened at $417.28 on Tuesday. Marriott International has a 52 week low of $279.87 and a 52 week high of $433.30. The firm has a market capitalization of $107.45 billion, a P/E ratio of 41.64, a PEG ratio of 3.14 and a beta of 1.15. The company has a 50-day moving average price of $365.04 and a 200-day moving average price of $357.63.
Marriott International (NASDAQ:MAR – Get Free Report) last posted its quarterly earnings data on Monday, November 2nd. The company reported $3.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.18. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.93 billion. Marriott International had a net margin of 9.68% and a negative return on equity of 69.94%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.47 earnings per share. As a group, equities research analysts anticipate that Marriott International will post 12.10 EPS for the current year.
Marriott International Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, November 19th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $2.92 annualized dividend and a yield of 0.7%. Marriott International’s dividend payout ratio is currently 29.14%.
Insiders Place Their Bets
In other Marriott International news, insider Deborah Harrison sold 3,500 shares of the firm’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $352.09, for a total transaction of $1,232,315.00. Following the sale, the insider directly owned 282,383 shares of the company’s stock, valued at $99,424,230.47. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Marriott sold 3,500 shares of the business’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $352.09, for a total value of $1,232,315.00. Following the completion of the transaction, the insider owned 282,383 shares in the company, valued at $99,424,230.47. The trade was a 1.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 11.43% of the company’s stock.
Institutional Trading of Marriott International
A number of large investors have recently added to or reduced their stakes in MAR. Evelyn Partners Investment Management Services Ltd acquired a new stake in shares of Marriott International in the first quarter valued at approximately $25,000. Wilkerson Advisory Group LLC grew its position in Marriott International by 127.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 84 shares of the company’s stock valued at $27,000 after acquiring an additional 47 shares in the last quarter. IMG Wealth Management Inc. raised its stake in shares of Marriott International by 100.0% in the first quarter. IMG Wealth Management Inc. now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 41 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in Marriott International in the first quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. lifted its holdings in Marriott International by 57.6% during the 1st quarter. Meeder Asset Management Inc. now owns 104 shares of the company’s stock worth $34,000 after buying an additional 38 shares during the last quarter. Institutional investors own 70.70% of the company’s stock.
Trending Headlines about Marriott International
Here are the key news stories impacting Marriott International this week:
- Positive Sentiment: Marriott’s board declared a quarterly cash dividend of $0.73 per share, offering shareholders a cash return. Marriott International Declares Quarterly Cash Dividend
- Positive Sentiment: The company opened its first property in Laos, a Luxury Collection resort in Luang Prabang, marking its 800th property in Asia Pacific excluding China and extending its regional footprint. Marriott debuts in Laos with new Luxury Collection property
- Positive Sentiment: Several analyst-related headlines pointed to further potential share-price gains, including forecasts from Robert W. Baird, Barclays and Goldman Sachs. Baird analyst outlook Barclays analyst outlook Goldman Sachs forecast
- Neutral Sentiment: Marriott recently beat quarterly earnings and revenue estimates, and its stock reached a 12-month high afterward. That strong run may have left shares vulnerable to some profit-taking. Marriott reaches a 12-month high following earnings beat
- Negative Sentiment: Freedom Broker downgraded Marriott from “strong-buy” to “hold,” a more cautious recommendation that could be a near-term headwind for the stock. Freedom Broker rating information
About Marriott International
Marriott International, Inc is a global hospitality company that develops, franchises, licenses and manages hotels, resorts, residences and other lodging properties. Its portfolio includes brands such as Marriott Hotels, Sheraton, Westin, W Hotels, The Ritz-Carlton, St. Regis, JW Marriott, Courtyard, Fairfield by Marriott, Residence Inn and Element. The company also operates Marriott Bonvoy, a travel loyalty program that provides members with benefits and rewards across participating properties and travel experiences.
Marriott traces its origins to 1927, when J.
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