Marriott International (NASDAQ:MAR) Stock Rating Reaffirmed by J P Morgan Chase & Co
J P Morgan Chase & Co reaffirmed their overweight rating on shares of Marriott International (NASDAQ:MAR) in a report published on Wednesday. They currently have a $113.00 price target on the stock, up from their prior price target of $111.00.
A number of other brokerages have also commented on MAR. Zacks Investment Research lowered shares of Marriott International from a buy rating to a hold rating in a report on Monday, May 29th. Stifel Nicolaus increased their price objective on shares of Marriott International from $95.00 to $98.00 and gave the stock a hold rating in a report on Tuesday, August 8th. Robert W. Baird increased their price objective on shares of Marriott International from $101.00 to $103.00 and gave the stock a neutral rating in a report on Tuesday, August 8th. BidaskClub raised shares of Marriott International from a buy rating to a strong-buy rating in a report on Tuesday, August 8th. Finally, Barclays PLC reissued a hold rating and set a $105.00 price objective on shares of Marriott International in a report on Friday, May 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $98.56.
Marriott International (NASDAQ:MAR) traded down 0.12% during mid-day trading on Wednesday, hitting $99.40. 2,154,708 shares of the company’s stock were exchanged. The stock has a market capitalization of $37.02 billion, a P/E ratio of 32.62 and a beta of 1.36. The firm has a 50 day moving average of $102.16 and a 200 day moving average of $96.39. Marriott International has a 52 week low of $65.91 and a 52 week high of $110.51.
Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.11. Marriott International had a net margin of 5.27% and a return on equity of 26.26%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The firm’s quarterly revenue was up 48.5% compared to the same quarter last year. Equities analysts forecast that Marriott International will post $4.10 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 24th will be given a $0.33 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.33%. Marriott International’s dividend payout ratio is 45.52%.
In other Marriott International news, EVP Anthony Capuano sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $100.72, for a total transaction of $503,600.00. Following the sale, the executive vice president now directly owns 56,405 shares in the company, valued at approximately $5,681,111.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David S. Marriott sold 19,500 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $103.26, for a total transaction of $2,013,570.00. Following the sale, the insider now owns 638,636 shares in the company, valued at $65,945,553.36. The disclosure for this sale can be found here. Insiders sold a total of 41,216 shares of company stock worth $4,270,892 over the last quarter. 17.07% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in MAR. Macquarie Group Ltd. increased its stake in shares of Marriott International by 31.7% in the fourth quarter. Macquarie Group Ltd. now owns 205,659 shares of the company’s stock valued at $17,004,000 after buying an additional 49,493 shares during the period. CENTRAL TRUST Co increased its stake in shares of Marriott International by 5.1% in the first quarter. CENTRAL TRUST Co now owns 2,902 shares of the company’s stock valued at $273,000 after buying an additional 140 shares during the period. Raymond James Trust N.A. bought a new stake in shares of Marriott International during the first quarter valued at approximately $312,000. Sheets Smith Wealth Management bought a new stake in shares of Marriott International during the first quarter valued at approximately $223,000. Finally, Gulf International Bank UK Ltd increased its stake in shares of Marriott International by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 103,780 shares of the company’s stock valued at $9,774,000 after buying an additional 1,200 shares during the period. Hedge funds and other institutional investors own 67.06% of the company’s stock.
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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