Marriott International (NASDAQ:MAR) Price Target Cut to $300.00 by Analysts at Truist Financial

Marriott International (NASDAQ:MAR) had its target price lowered by Truist Financial from $308.00 to $300.00 in a research report sent to investors on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research firms also recently commented on MAR. Morgan Stanley increased their price objective on Marriott International from $289.00 to $298.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Barclays cut their target price on Marriott International from $287.00 to $283.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Susquehanna raised their target price on Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised their target price on Marriott International from $251.00 to $295.00 and gave the stock a “hold” rating in a research note on Thursday, January 2nd. Finally, UBS Group raised their target price on Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $286.05.

Marriott International Stock Performance

NASDAQ MAR opened at $237.49 on Friday. The business has a fifty day moving average price of $275.53 and a 200 day moving average price of $270.37. Marriott International has a one year low of $204.55 and a one year high of $307.52. The company has a market cap of $65.47 billion, a P/E ratio of 28.54, a P/E/G ratio of 3.42 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.37 by $0.08. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. As a group, sell-side analysts predict that Marriott International will post 10.1 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, February 27th. Marriott International’s dividend payout ratio (DPR) is 30.29%.

Insider Activity at Marriott International

In related news, Director Susan C. Schwab sold 1,054 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $277.48, for a total transaction of $292,463.92. Following the completion of the transaction, the director now directly owns 4,551 shares in the company, valued at $1,262,811.48. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rena Hozore Reiss sold 3,500 shares of Marriott International stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $286.65, for a total value of $1,003,275.00. Following the completion of the transaction, the executive vice president now owns 24,733 shares of the company’s stock, valued at $7,089,714.45. The trade was a 12.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,694 shares of company stock worth $8,938,132 in the last three months. 12.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marriott International

Several hedge funds and other institutional investors have recently made changes to their positions in MAR. 111 Capital acquired a new stake in shares of Marriott International during the 4th quarter worth about $954,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Marriott International by 2.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,446 shares of the company’s stock worth $11,561,000 after acquiring an additional 1,041 shares in the last quarter. NorthCrest Asset Manangement LLC acquired a new stake in shares of Marriott International during the 4th quarter worth about $293,000. PKO Investment Management Joint Stock Co acquired a new stake in shares of Marriott International during the 4th quarter worth about $3,710,000. Finally, Old North State Trust LLC raised its position in shares of Marriott International by 33.7% during the 4th quarter. Old North State Trust LLC now owns 1,436 shares of the company’s stock worth $401,000 after acquiring an additional 362 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

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.