Canaccord Genuity reiterated their buy rating on shares of Marriott International Inc (NASDAQ:MAR) in a report released on Monday, May 8th. Canaccord Genuity currently has a $113.00 target price on the stock, up from their previous target price of $100.00.
A number of other brokerages have also recently issued reports on MAR. Guggenheim assumed coverage on Marriott International in a report on Wednesday, April 26th. They set a neutral rating on the stock. Goldman Sachs Group Inc lifted their price objective on Marriott International from $103.00 to $105.00 and gave the company a conviction-buy rating in a report on Thursday, March 23rd. Evercore ISI lifted their price objective on Marriott International from $86.00 to $90.00 and gave the company an underperform rating in a report on Thursday, March 23rd. Vetr upgraded Marriott International from a hold rating to a buy rating and set a $96.50 price objective on the stock in a report on Tuesday, April 11th. Finally, Telsey Advisory Group lifted their price objective on Marriott International from $73.00 to $90.00 and gave the company a market perform rating in a report on Friday, February 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Marriott International presently has an average rating of Buy and a consensus price target of $95.32.
Shares of Marriott International (NASDAQ:MAR) traded up 0.28% during mid-day trading on Monday, hitting $102.82. 1,977,317 shares of the company traded hands. Marriott International has a 52-week low of $60.87 and a 52-week high of $104.52. The firm has a market cap of $38.96 billion, a price-to-earnings ratio of 36.42 and a beta of 1.22. The firm has a 50-day moving average price of $95.82 and a 200 day moving average price of $86.56.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Monday, May 8th. The company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.11. Marriott International had a negative return on equity of 76.10% and a net margin of 4.82%. The firm had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the company earned $0.87 earnings per share. The company’s revenue was up 47.4% on a year-over-year basis. Equities research analysts anticipate that Marriott International will post $4.04 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, May 19th will be issued a dividend of $0.33 per share. This is an increase from Marriott International’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.29%. Marriott International’s dividend payout ratio is 42.25%.
In other news, Director George Munoz sold 5,894 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $103.95, for a total value of $612,681.30. Following the sale, the director now directly owns 7,659 shares of the company’s stock, valued at approximately $796,153.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider J W. Marriott, Jr. sold 35,059 shares of the business’s stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $93.42, for a total value of $3,275,211.78. Following the completion of the sale, the insider now directly owns 275,083 shares in the company, valued at $25,698,253.86. The disclosure for this sale can be found here. Insiders have sold a total of 194,423 shares of company stock worth $17,916,593 in the last quarter. Company insiders own 17.07% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in MAR. Carderock Capital Management Inc. raised its stake in shares of Marriott International by 7.1% in the first quarter. Carderock Capital Management Inc. now owns 10,173 shares of the company’s stock worth $958,000 after buying an additional 678 shares during the last quarter. Willingdon Wealth Management raised its stake in shares of Marriott International by 1.3% in the third quarter. Willingdon Wealth Management now owns 21,910 shares of the company’s stock worth $1,475,000 after buying an additional 271 shares during the last quarter. Shell Asset Management Co. raised its stake in shares of Marriott International by 19.8% in the first quarter. Shell Asset Management Co. now owns 47,929 shares of the company’s stock worth $4,514,000 after buying an additional 7,915 shares during the last quarter. First Republic Investment Management Inc. raised its stake in shares of Marriott International by 12.9% in the fourth quarter. First Republic Investment Management Inc. now owns 87,340 shares of the company’s stock worth $7,221,000 after buying an additional 9,969 shares during the last quarter. Finally, Wetherby Asset Management Inc. increased its position in Marriott International by 1.6% in the first quarter. Wetherby Asset Management Inc. now owns 6,809 shares of the company’s stock valued at $641,000 after buying an additional 104 shares during the period. 64.62% of the stock is currently owned by hedge funds and other institutional investors.
About Marriott International
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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