Marriott International (NASDAQ:MAR) Shares Gap Down After Analyst Downgrade

Shares of Marriott International, Inc. (NASDAQ:MAR) gapped down prior to trading on Friday after Truist Financial lowered their price target on the stock from $308.00 to $300.00. The stock had previously closed at $244.84, but opened at $235.79. Truist Financial currently has a hold rating on the stock. Marriott International shares last traded at $233.17, with a volume of 851,416 shares changing hands.

A number of other research analysts have also recently issued reports on MAR. Evercore ISI upgraded Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 target price on the stock in a research report on Tuesday, February 4th. UBS Group lifted their price target on shares of Marriott International from $294.00 to $301.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price objective on shares of Marriott International from $251.00 to $269.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Morgan Stanley boosted their target price on shares of Marriott International from $289.00 to $298.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company cut their price objective on Marriott International from $285.00 to $277.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Marriott International has a consensus rating of “Hold” and a consensus price target of $286.05.

Insider Transactions at Marriott International

In other news, EVP Rena Hozore Reiss sold 3,500 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $286.65, for a total value of $1,003,275.00. Following the transaction, the executive vice president now directly owns 24,733 shares of the company’s stock, valued at $7,089,714.45. The trade was a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William P. Brown sold 12,642 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $285.63, for a total value of $3,610,934.46. Following the sale, the insider now directly owns 30,919 shares of the company’s stock, valued at $8,831,393.97. This represents a 29.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,694 shares of company stock worth $8,938,132. Company insiders own 12.32% of the company’s stock.

Institutional Investors Weigh In On Marriott International

Several hedge funds and other institutional investors have recently bought and sold shares of MAR. 111 Capital acquired a new stake in shares of Marriott International in the 4th quarter valued at about $954,000. Wealth Enhancement Advisory Services LLC grew its stake in Marriott International by 2.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,446 shares of the company’s stock valued at $11,561,000 after acquiring an additional 1,041 shares during the period. NorthCrest Asset Manangement LLC acquired a new position in shares of Marriott International during the fourth quarter worth approximately $293,000. PKO Investment Management Joint Stock Co bought a new position in shares of Marriott International in the 4th quarter worth $3,710,000. Finally, Old North State Trust LLC grew its position in Marriott International by 33.7% in the 4th quarter. Old North State Trust LLC now owns 1,436 shares of the company’s stock valued at $401,000 after purchasing an additional 362 shares during the period. 70.70% of the stock is owned by institutional investors.

Marriott International Price Performance

The stock has a market cap of $65.47 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 3.42 and a beta of 1.58. The company’s fifty day simple moving average is $275.53 and its two-hundred day simple moving average is $270.08.

Marriott International (NASDAQ:MAR) last posted its earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. On average, analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, February 27th. Marriott International’s payout ratio is currently 30.29%.

Marriott International Company Profile

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.