Truist Financial Cuts Marriott International (NASDAQ:MAR) Price Target to $300.00

Marriott International (NASDAQ:MAR) had its price target reduced by Truist Financial from $308.00 to $300.00 in a research report released on Friday,Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts have also issued reports on the stock. JPMorgan Chase & Co. boosted their target price 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. Stifel Nicolaus upped their price objective on shares of Marriott International from $252.00 to $283.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Morgan Stanley upped their price objective 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. Argus upped their price objective on shares of Marriott International from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Jefferies Financial Group upped their price objective on shares of Marriott International from $251.00 to $295.00 and gave the stock a “hold” rating in a research note on Thursday, January 2nd. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $286.05.

Marriott International Trading Down 3.0 %

Shares of MAR opened at $237.49 on Friday. The firm has a market capitalization of $65.47 billion, a P/E ratio of 28.54, a P/E/G ratio of 3.42 and a beta of 1.58. Marriott International has a 12-month low of $204.55 and a 12-month high of $307.52. The firm has a fifty day moving average price of $275.53 and a 200-day moving average price of $270.37.

Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Marriott International will post 10.1 earnings per share for the current year.

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.52 annualized dividend and a dividend yield of 1.06%. Marriott International’s dividend payout ratio (DPR) is currently 30.29%.

Insider Activity

In related news, CFO Kathleen K. Oberg sold 14,498 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $278.07, for a total value of $4,031,458.86. Following the sale, the chief financial officer now owns 14,282 shares in the company, valued at $3,971,395.74. This represents a 50.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William P. Brown sold 12,642 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $285.63, for a total value of $3,610,934.46. Following the completion of the sale, the insider now owns 30,919 shares in the company, valued at approximately $8,831,393.97. This represents a 29.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,694 shares of company stock worth $8,938,132 over the last 90 days. 12.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marriott International

A number of large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Marriott International in the 4th quarter worth approximately $580,922,000. Wellington Management Group LLP boosted its position in Marriott International by 50.8% in the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company’s stock worth $1,300,168,000 after purchasing an additional 1,570,144 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Marriott International in the 4th quarter worth approximately $165,162,000. Invesco Ltd. lifted its position in shares of Marriott International by 17.4% during the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company’s stock valued at $967,662,000 after buying an additional 512,963 shares in the last quarter. Finally, PointState Capital LP purchased a new position in shares of Marriott International during the 3rd quarter valued at approximately $98,249,000. 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.