Marriott International Inc. (NASDAQ:MAR) had its target price cut by Telsey Advisory Group from $74.00 to $70.00 in a research note released on Friday morning. They currently have a market perform rating on the stock.
MAR has been the topic of several other research reports. Wolfe Research began coverage on shares of Marriott International in a research report on Wednesday, July 6th. They set a market perform rating on the stock. Vetr raised shares of Marriott International from a buy rating to a strong-buy rating and set a $75.10 target price on the stock in a research report on Monday, June 13th. Morgan Stanley lowered their price target on shares of Marriott International from $74.00 to $73.00 and set an equal weight rating on the stock in a report on Thursday, July 28th. Zacks Investment Research cut shares of Marriott International from a hold rating to a sell rating in a report on Wednesday, June 29th. Finally, Credit Agricole SA raised shares of Marriott International from an underperform rating to an outperform rating in a report on Monday, August 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Marriott International presently has an average rating of Buy and a consensus target price of $78.09.
Marriott International (NASDAQ:MAR) opened at 67.05 on Friday. Marriott International has a 12 month low of $56.43 and a 12 month high of $79.88. The firm has a market cap of $17.06 billion, a P/E ratio of 19.98 and a beta of 1.25. The firm’s 50-day moving average price is $70.82 and its 200-day moving average price is $69.03.
Marriott International (NASDAQ:MAR) last posted its earnings results on Wednesday, July 27th. The company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.05. Marriott International had a net margin of 5.87% and a negative return on equity of 25.25%. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the firm earned $0.82 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts expect that Marriott International will post $3.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 23rd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.79%. The ex-dividend date is Wednesday, September 21st. Marriott International’s dividend payout ratio is presently 35.71%.
In other news, EVP Anthony Capuano sold 22,538 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $73.60, for a total transaction of $1,658,796.80. Following the completion of the transaction, the executive vice president now directly owns 76,184 shares of the company’s stock, valued at $5,607,142.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Richard E. Marriott sold 71,287 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $70.14, for a total transaction of $5,000,070.18. Following the transaction, the insider now directly owns 12,223,365 shares of the company’s stock, valued at $857,346,821.10. The disclosure for this sale can be found here. 17.07% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. North Star Investment Management Corp. increased its position in shares of Marriott International by 29.6% in the second quarter. North Star Investment Management Corp. now owns 1,533 shares of the company’s stock valued at $102,000 after buying an additional 350 shares during the period. Monetary Management Group Inc. bought a new position in Marriott International during the first quarter worth about $126,000. Smithfield Trust Co. increased its position in Marriott International by 54.3% in the second quarter. Smithfield Trust Co. now owns 1,875 shares of the company’s stock worth $125,000 after buying an additional 660 shares during the last quarter. Gradient Investments LLC increased its position in Marriott International by 0.4% in the second quarter. Gradient Investments LLC now owns 1,958 shares of the company’s stock worth $130,000 after buying an additional 8 shares during the last quarter. Finally, Acrospire Investment Management LLC bought a new position in Marriott International during the first quarter worth about $142,000. 73.73% of the stock is owned by hedge funds and other institutional investors.
About Marriott International
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It also develops, operates and markets residential properties, and provides services to home or condominium owner associations.
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