Marriott International (NASDAQ:MAR) Shares Gap Down After Analyst Downgrade

Marriott International, Inc. (NASDAQ:MAR) shares gapped down before the market opened on Friday after Truist Financial lowered their price target on the stock from $308.00 to $300.00. The stock had previously closed at $244.84, but opened at $235.79. Truist Financial currently has a hold rating on the stock. Marriott International shares last traded at $233.17, with a volume of 851,416 shares changing hands.

Other equities research analysts have also issued reports about the company. Mizuho raised their target price on Marriott International from $246.00 to $293.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Wells Fargo & Company lowered their price objective on shares of Marriott International from $285.00 to $277.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Jefferies Financial Group increased their target price on shares of Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a research report on Thursday, January 2nd. Argus upped their price objective on Marriott International from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Susquehanna raised their target price on Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $286.05.

Insider Transactions at Marriott International

In other Marriott International news, insider William P. Brown sold 12,642 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $285.63, for a total value of $3,610,934.46. Following the transaction, the insider now directly owns 30,919 shares in the company, valued at $8,831,393.97. This represents a 29.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathleen K. Oberg sold 14,498 shares of Marriott International stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $278.07, for a total value of $4,031,458.86. Following the sale, the chief financial officer now owns 14,282 shares of the company’s stock, valued at approximately $3,971,395.74. This trade represents a 50.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,694 shares of company stock valued at $8,938,132. 12.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marriott International

Several hedge funds have recently bought and sold shares of MAR. NewEdge Wealth LLC lifted its holdings in shares of Marriott International by 34.4% during the 4th quarter. NewEdge Wealth LLC now owns 4,345 shares of the company’s stock worth $1,212,000 after acquiring an additional 1,112 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in Marriott International during the third quarter valued at about $2,721,000. Union Bancaire Privee UBP SA bought a new stake in Marriott International during the fourth quarter worth about $2,990,000. Markel Group Inc. increased its position in shares of Marriott International by 30.6% during the 4th quarter. Markel Group Inc. now owns 47,000 shares of the company’s stock valued at $13,110,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Covea Finance raised its holdings in shares of Marriott International by 69.9% during the 4th quarter. Covea Finance now owns 60,540 shares of the company’s stock valued at $16,887,000 after buying an additional 24,900 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors.

Marriott International Price Performance

The company has a 50 day simple moving average of $275.53 and a 200-day simple moving average of $270.08. The firm has a market cap of $65.47 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 3.42 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last released its earnings results 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 net margin of 9.46% and a negative return on equity of 116.67%. On average, sell-side analysts predict that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Dividend Announcement

The business 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 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International’s dividend payout ratio is presently 30.29%.

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.