Marriott International (NASDAQ:MAR) Hits New 1-Year High – Here’s What Happened

Shares of Marriott International, Inc. (NASDAQ:MAR) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $302.28 and last traded at $302.11, with a volume of 253506 shares changing hands. The stock had previously closed at $292.39.

Analyst Ratings Changes

A number of analysts have weighed in on MAR shares. Wells Fargo & Company increased their price target on Marriott International from $262.00 to $285.00 and gave the stock an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Truist Financial raised their price objective on shares of Marriott International from $254.00 to $277.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Evercore ISI raised shares of Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 target price on the stock in a research note on Tuesday. Finally, Barclays lifted their price target on shares of Marriott International from $249.00 to $286.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Marriott International presently has a consensus rating of “Hold” and an average price target of $276.35.

Marriott International Trading Up 0.3 %

The stock’s 50-day simple moving average is $283.94 and its 200-day simple moving average is $260.70. The firm has a market capitalization of $84.47 billion, a P/E ratio of 31.80, a P/E/G ratio of 4.88 and a beta of 1.57.

Insider Activity

In other Marriott International news, CFO Kathleen K. Oberg sold 2,360 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $285.41, for a total transaction of $673,567.60. Following the completion of the transaction, the chief financial officer now owns 39,726 shares in the company, valued at $11,338,197.66. This trade represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony Capuano sold 8,332 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the completion of the sale, the chief executive officer now directly owns 108,361 shares in the company, valued at approximately $30,827,620.89. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,399 shares of company stock valued at $3,529,238 in the last ninety days. 12.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marriott International

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in Marriott International by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,477,619 shares of the company’s stock valued at $412,167,000 after buying an additional 32,288 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Marriott International by 4.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,024,187 shares of the company’s stock worth $254,613,000 after acquiring an additional 46,563 shares during the period. National Pension Service boosted its holdings in Marriott International by 11.6% in the 3rd quarter. National Pension Service now owns 719,613 shares of the company’s stock valued at $178,896,000 after purchasing an additional 74,832 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Marriott International by 8.4% in the third quarter. Janus Henderson Group PLC now owns 613,052 shares of the company’s stock worth $152,399,000 after purchasing an additional 47,551 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Marriott International during the fourth quarter valued at $165,162,000. 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.