Truist Financial Forecasts Strong Price Appreciation for Marriott International (NASDAQ:MAR) Stock

Marriott International (NASDAQ:MARFree Report) had its price objective raised by Truist Financial from $254.00 to $277.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also recently issued reports about the stock. Evercore ISI lifted their price objective 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. Macquarie reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Marriott International in a research note on Tuesday, November 5th. Sanford C. Bernstein boosted their price target on Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Mizuho boosted their price target on Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price target on Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a research note 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $261.35.

Check Out Our Latest Analysis on MAR

Marriott International Trading Up 1.6 %

Shares of MAR opened at $289.63 on Wednesday. The company has a market cap of $80.49 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 5.63 and a beta of 1.58. Marriott International has a 1-year low of $202.24 and a 1-year high of $290.43. The company’s fifty day simple moving average is $269.22 and its 200 day simple moving average is $246.17.

Marriott International (NASDAQ:MARGet Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $6.27 billion. During the same period last year, the firm earned $2.11 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that Marriott International 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 $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International’s dividend payout ratio is currently 26.36%.

Insider Buying and Selling

In related news, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total value of $137,245.00. Following the completion of the sale, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. This represents a 3.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William P. Brown sold 1,707 shares of the 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 completion of the sale, the insider now directly owns 23,077 shares of the company’s stock, valued at $6,560,791.10. The trade was a 6.89 % 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 in the last ninety days. Corporate insiders own 10.07% of the company’s stock.

Institutional Investors Weigh In On Marriott International

Institutional investors and hedge funds have recently bought and sold shares of the stock. PointState Capital LP purchased a new stake in shares of Marriott International during the 3rd quarter valued at $98,249,000. Canoe Financial LP purchased a new stake in shares of Marriott International during the 3rd quarter valued at $77,331,000. International Assets Investment Management LLC increased its position in shares of Marriott International by 15,148.3% during the 3rd quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock valued at $75,208,000 after purchasing an additional 300,543 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Marriott International by 36,856.7% during 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 purchasing an additional 240,674 shares during the last quarter. Finally, AXA S.A. increased its position in shares of Marriott International by 133.4% during the 2nd 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 during the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

About Marriott International

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Marriott International (NASDAQ:MAR)

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