Marriott International (NASDAQ:MAR)‘s stock had its “overweight” rating reissued by analysts at J P Morgan Chase & Co in a research note issued to investors on Friday, May 12th. They presently have a $111.00 target price on the stock. J P Morgan Chase & Co’s price objective points to a potential upside of 6.22% from the company’s current price.
Several other research firms have also weighed in on MAR. Goldman Sachs Group, Inc. (The) lowered shares of Marriott International from a “conviction-buy” rating to a “buy” rating and set a $105.00 target price on the stock. in a report on Tuesday, April 11th. Evercore ISI upped their price objective on shares of Marriott International from $86.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, March 23rd. Barclays PLC restated a “hold” rating and issued a $105.00 price objective on shares of Marriott International in a report on Friday, May 12th. Stifel Nicolaus upped their price objective on shares of Marriott International from $84.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, March 22nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $100.00 price objective on shares of Marriott International in a report on Friday, February 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $97.97.
Shares of Marriott International (NASDAQ MAR) traded down 0.23% during midday trading on Friday, reaching $104.50. The company’s stock had a trading volume of 3,960,268 shares. The company’s 50-day moving average price is $103.08 and its 200-day moving average price is $91.08. The company has a market cap of $39.59 billion, a PE ratio of 37.02 and a beta of 1.31. Marriott International has a 12 month low of $60.87 and a 12 month high of $110.51. Marriott International also saw some unusual options trading activity on Wednesday. Traders acquired 2,559 call options on the stock. This represents an increase of 966% compared to the average volume of 240 call options.
Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, May 8th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.28 billion. Marriott International had a net margin of 4.91% and a return on equity of 38.10%. Marriott International’s revenue was up 47.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. On average, equities analysts anticipate that Marriott International will post $4.04 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, May 19th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Wednesday, May 17th. This is an increase from Marriott International’s previous quarterly dividend of $0.30. Marriott International’s dividend payout ratio (DPR) is currently 47.48%.
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In other news, insider David A. Rodriguez sold 11,112 shares of Marriott International stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $90.00, for a total transaction of $1,000,080.00. Following the completion of the sale, the insider now directly owns 31,325 shares in the company, valued at $2,819,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Blake Marriott sold 3,733 shares of Marriott International stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $107.44, for a total transaction of $401,073.52. Following the sale, the insider now owns 145,601 shares of the company’s stock, valued at $15,643,371.44. The disclosure for this sale can be found here. Insiders sold a total of 104,029 shares of company stock valued at $10,117,644 in the last quarter. Insiders own 17.07% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in MAR. BlackRock Inc. boosted its position in shares of Marriott International by 2,076.2% in the first quarter. BlackRock Inc. now owns 18,978,323 shares of the company’s stock worth $1,787,379,000 after buying an additional 18,106,240 shares during the period. FMR LLC boosted its position in shares of Marriott International by 112.2% in the first quarter. FMR LLC now owns 11,625,543 shares of the company’s stock worth $1,094,894,000 after buying an additional 6,147,789 shares during the period. Capital Research Global Investors boosted its position in shares of Marriott International by 101.3% in the third quarter. Capital Research Global Investors now owns 8,717,184 shares of the company’s stock worth $586,928,000 after buying an additional 4,387,737 shares during the period. Norges Bank acquired a new position in shares of Marriott International during the fourth quarter worth $236,001,000. Finally, Capital World Investors boosted its position in shares of Marriott International by 135.6% in the third quarter. Capital World Investors now owns 4,470,000 shares of the company’s stock worth $300,965,000 after buying an additional 2,572,784 shares during the period. 68.33% of the stock is currently owned by hedge funds and other institutional investors.
Marriott International Company Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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