Marriott International (NASDAQ:MAR) Sets New 12-Month High Following Analyst Upgrade

Marriott International, Inc. (NASDAQ:MAR)’s share price reached a new 52-week high 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 traded. The stock had previously closed at $289.63.

MAR has been the topic of several other research reports. Mizuho increased their price target on shares of Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Macquarie reissued a “neutral” rating and set a $245.00 price objective on shares of Marriott International in a report on Tuesday, November 5th. Evercore ISI upped their price target on shares of Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Morgan Stanley dropped their price target on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, UBS Group decreased their target price on Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Marriott International currently has an average rating of “Hold” and a consensus 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 on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the transaction, the executive vice president now directly owns 12,286 shares in the company, valued at $3,372,384.14. The trade was a 3.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony Capuano sold 8,332 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the sale, the chief executive officer now owns 108,361 shares of the company’s stock, valued at $30,827,620.89. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,815 shares of company stock worth $3,919,739. Insiders own 12.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PointState Capital LP bought a new stake in shares of Marriott International during the 3rd quarter valued at $98,249,000. Canoe Financial LP acquired a new stake in Marriott International during the third quarter worth about $77,331,000. International Assets Investment Management LLC increased its holdings in Marriott International by 15,148.3% in the 3rd quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock valued at $75,208,000 after buying an additional 300,543 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Marriott International by 36,856.7% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock valued at $58,346,000 after buying an additional 240,674 shares in the last quarter. Finally, AXA S.A. raised its position in Marriott International by 133.4% during the second quarter. AXA S.A. now owns 221,045 shares of the company’s stock valued at $53,442,000 after purchasing an additional 126,323 shares in the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.

Marriott International Stock Up 1.2 %

The stock has a market capitalization of $81.42 billion, a P/E ratio of 30.30, a PEG ratio of 5.61 and a beta of 1.58. The firm has a 50 day simple moving average of $269.22 and a two-hundred day simple moving average of $246.17.

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

Marriott International Dividend Announcement

The business 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 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International’s dividend payout ratio 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.