Marriott International (NASDAQ:MAR) Price Target Lowered to $248.00 at Wells Fargo & Company

Marriott International (NASDAQ:MAR) had its target price decreased by Wells Fargo & Company from $250.00 to $248.00 in a research report sent to investors on Thursday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other research analysts also recently issued reports about the stock. Truist Financial increased their target price on shares of Marriott International from $233.00 to $263.00 and gave the company a hold rating in a research report on Wednesday, February 14th. UBS Group boosted their target price on Marriott International from $210.00 to $259.00 and gave the stock a neutral rating in a research report on Wednesday, February 28th. BMO Capital Markets raised their price target on Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a research report on Thursday. Robert W. Baird lifted their price objective on Marriott International from $248.00 to $250.00 and gave the stock a neutral rating in a report on Thursday. Finally, Barclays increased their price objective on Marriott International from $239.00 to $240.00 and gave the company an equal weight rating in a research note on Friday, April 19th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $241.33.

Marriott International Stock Performance

Shares of NASDAQ MAR opened at $234.59 on Thursday. The business has a fifty day moving average of $247.40 and a two-hundred day moving average of $228.85. Marriott International has a 52-week low of $165.13 and a 52-week high of $260.57. The stock has a market cap of $67.00 billion, a PE ratio of 24.21, a PEG ratio of 4.44 and a beta of 1.61.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.95 billion. During the same period last year, the business posted $2.09 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts predict that Marriott International will post 9.5 earnings per share for the current year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 22nd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.89%. The ex-dividend date was Wednesday, February 21st. Marriott International’s payout ratio is currently 21.47%.

Insider Buying and Selling

In other Marriott International news, Director Eric Hippeau sold 1,400 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total transaction of $351,666.00. Following the transaction, the director now directly owns 72 shares in the company, valued at approximately $18,085.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Eric Hippeau sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total value of $351,666.00. Following the completion of the sale, the director now owns 72 shares of the company’s stock, valued at approximately $18,085.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rena Hozore Reiss sold 3,563 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $240.39, for a total value of $856,509.57. Following the sale, the executive vice president now owns 36,778 shares of the company’s stock, valued at approximately $8,841,063.42. The disclosure for this sale can be found here. Insiders have sold 125,003 shares of company stock valued at $30,435,493 in the last 90 days. Company insiders own 12.32% of the company’s stock.

Institutional Trading of Marriott International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Manchester Capital Management LLC raised its holdings in shares of Marriott International by 2.3% during the fourth quarter. Manchester Capital Management LLC now owns 1,841 shares of the company’s stock worth $415,000 after purchasing an additional 42 shares during the last quarter. Moody National Bank Trust Division grew its position in Marriott International by 1.2% during the first quarter. Moody National Bank Trust Division now owns 3,673 shares of the company’s stock valued at $927,000 after buying an additional 42 shares during the period. Kathmere Capital Management LLC raised its position in shares of Marriott International by 1.2% in the first quarter. Kathmere Capital Management LLC now owns 3,599 shares of the company’s stock worth $908,000 after acquiring an additional 42 shares during the period. Grove Bank & Trust increased its stake in shares of Marriott International by 3.4% in the 4th quarter. Grove Bank & Trust now owns 1,307 shares of the company’s stock valued at $295,000 after purchasing an additional 43 shares in the last quarter. Finally, Argus Investors Counsel Inc. raised its stake in shares of Marriott International by 0.6% during the 4th quarter. Argus Investors Counsel Inc. now owns 7,731 shares of the company’s stock worth $1,743,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.