Marriott International (NASDAQ:MAR) Sets New 1-Year High After Analyst Upgrade

Shares of Marriott International, Inc. (NASDAQ:MAR) reached a new 52-week high during trading on Thursday after Truist Financial raised their price target on the stock from $254.00 to $277.00. Truist Financial currently has a hold rating on the stock. Marriott International traded as high as $292.61 and last traded at $292.60, with a volume of 60600 shares trading hands. The stock had previously closed at $289.63.

A number of other research analysts also recently weighed in on MAR. TD Cowen lowered their price target on Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Stifel Nicolaus upped their target price on Marriott International from $252.00 to $283.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. UBS Group dropped their price target on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Sanford C. Bernstein lifted their price objective on Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company upped their target price on Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Marriott International presently has an average rating of “Hold” and an average target price of $261.35.

Insider Buying and Selling at Marriott International

In other Marriott International news, EVP Benjamin T. Breland sold 500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total transaction of $137,245.00. Following the completion of the sale, the executive vice president now directly owns 12,286 shares in the company, valued at $3,372,384.14. This represents a 3.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Felitia Lee sold 916 shares of Marriott International stock in a transaction dated Thursday, November 7th. The stock was 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 owns 5,609 shares in the company, valued at $1,550,776.32. The trade was a 14.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,815 shares of company stock worth $3,919,739 over the last 90 days. Insiders own 12.32% of the company’s stock.

Institutional Investors Weigh In On Marriott International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Marriott International by 4.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,024,187 shares of the company’s stock worth $254,613,000 after acquiring an additional 46,563 shares during the period. National Pension Service boosted its stake in Marriott International by 11.6% during the third quarter. National Pension Service now owns 719,613 shares of the company’s stock worth $178,896,000 after buying an additional 74,832 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Marriott International by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 679,757 shares of the company’s stock valued at $164,355,000 after buying an additional 33,149 shares during the period. First Pacific Advisors LP raised its stake in shares of Marriott International by 2.1% in the 2nd quarter. First Pacific Advisors LP now owns 613,205 shares of the company’s stock valued at $148,255,000 after buying an additional 12,499 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Marriott International by 8.4% during the 3rd quarter. Janus Henderson Group PLC now owns 613,052 shares of the company’s stock worth $152,399,000 after acquiring an additional 47,551 shares during the period. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Price Performance

The firm has a market cap of $81.28 billion, a P/E ratio of 30.59, a PEG ratio of 5.61 and a beta of 1.58. The stock’s 50 day moving average is $270.06 and its two-hundred day moving average is $246.49.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.05). The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.11 earnings per share. As a group, research analysts forecast that Marriott International, Inc. will post 9.26 EPS for the current fiscal year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Thursday, November 21st. Marriott International’s dividend payout ratio (DPR) is currently 26.36%.

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.