Marriott International (NASDAQ:MAR) Reaches New 12-Month High After Analyst Upgrade

Marriott International, Inc. (NASDAQ:MAR)’s share price reached a new 52-week high during mid-day 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.

Other equities research analysts have also recently issued reports about the stock. Bank of America raised their price objective on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company increased their target price on shares of Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Macquarie restated a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a report on Tuesday, November 5th. BMO Capital Markets boosted their target price on Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group assumed coverage on Marriott International in a research note on Wednesday, September 18th. They set a “buy” rating and a $267.00 target price on the stock. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Marriott International has an average rating of “Hold” and an average target price of $261.35.

Insider Activity at Marriott International

In other Marriott International news, insider William P. Brown sold 1,707 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $284.30, for a total value of $485,300.10. Following the transaction, the insider now directly owns 23,077 shares of the company’s stock, valued at approximately $6,560,791.10. The trade was a 6.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Benjamin T. Breland sold 500 shares of Marriott International 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 approximately $3,372,384.14. The trade was a 3.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,815 shares of company stock valued at $3,919,739 in the last three months. 12.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marriott International

A number of hedge funds have recently added to or reduced their stakes in MAR. Oddo BHF Asset Management Sas purchased a new stake in Marriott International during the third quarter worth $2,721,000. Tidal Investments LLC raised its stake in shares of Marriott International by 86.8% during the third quarter. Tidal Investments LLC now owns 16,375 shares of the company’s stock valued at $4,071,000 after purchasing an additional 7,607 shares during the period. Optimist Retirement Group LLC boosted its stake in shares of Marriott International by 7.7% during the 3rd quarter. Optimist Retirement Group LLC now owns 894 shares of the company’s stock valued at $222,000 after buying an additional 64 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Marriott International during the 3rd quarter worth $1,260,000. Finally, Sanctuary Advisors LLC increased its stake in Marriott International by 5.8% during the third quarter. Sanctuary Advisors LLC now owns 36,251 shares of the company’s stock valued at $9,012,000 after purchasing an additional 1,974 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Trading Up 1.2 %

The business’s 50-day moving average is $269.22 and its two-hundred day moving average is $246.17. The firm has a market cap of $81.42 billion, a P/E ratio of 30.30, a P/E/G ratio of 5.61 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.05). The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. Marriott International’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $2.11 EPS. On average, analysts anticipate that Marriott International, Inc. will post 9.26 earnings per share for the current 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 issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International’s payout ratio is currently 26.36%.

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.