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

Marriott International (NASDAQ:MAR) had its price target reduced by research analysts at Wells Fargo & Company from $250.00 to $248.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 6.28% from the company’s current price.

A number of other research firms also recently weighed in on MAR. Robert W. Baird raised their price target on Marriott International from $248.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday. 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. Barclays boosted their price objective on Marriott International from $239.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Friday, April 19th. Truist Financial upped their price target on Marriott International from $233.00 to $263.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Finally, Mizuho boosted their price objective on shares of Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Marriott International presently has an average rating of “Hold” and an average target price of $237.31.

Marriott International Price Performance

Shares of MAR traded down $0.51 during trading hours on Thursday, hitting $233.35. 221,083 shares of the company were exchanged, compared to its average volume of 1,440,568. The firm has a fifty day simple moving average of $248.01 and a 200-day simple moving average of $228.08. The company has a market capitalization of $67.43 billion, a PE ratio of 22.90, a PEG ratio of 5.27 and a beta of 1.61. Marriott International has a one year low of $165.13 and a one year high of $260.57.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $1.45. Marriott International had a net margin of 13.00% and a negative return on equity of 848.49%. The firm had revenue of $6.10 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the business posted $1.96 EPS. The company’s revenue was up 2.9% on a year-over-year basis. Sell-side analysts expect that Marriott International will post 9.46 EPS for the current year.

Insider Buying and Selling

In other Marriott International news, Director Eric Hippeau sold 1,400 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 72 shares of the company’s stock, valued at approximately $18,085.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Marriott International news, insider David S. Marriott sold 2,878 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $248.94, for a total transaction of $716,449.32. Following the transaction, the insider now owns 596,042 shares of the company’s stock, valued at approximately $148,378,695.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric Hippeau sold 1,400 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total transaction of $351,666.00. Following the completion of the transaction, the director now directly owns 72 shares of the company’s stock, valued at $18,085.68. The disclosure for this sale can be found here. Insiders have sold a total of 125,003 shares of company stock worth $30,435,493 over the last ninety days. Company insiders own 12.32% of the company’s stock.

Institutional Trading of Marriott International

A number of hedge funds have recently made changes to their positions in the business. Parnassus Investments LLC acquired a new position in shares of Marriott International in the third quarter valued at approximately $481,621,000. Norges Bank bought a new position in Marriott International during the 4th quarter worth $461,525,000. FMR LLC lifted its holdings in shares of Marriott International by 16.1% during the third quarter. FMR LLC now owns 8,634,610 shares of the company’s stock worth $1,697,219,000 after buying an additional 1,194,665 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Marriott International by 34.8% in the fourth quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock valued at $1,025,416,000 after acquiring an additional 1,173,028 shares in the last quarter. Finally, Capital International Investors increased its position in Marriott International by 42.2% during the fourth quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock worth $709,793,000 after acquiring an additional 934,304 shares during the period. 70.70% of the stock is owned by institutional investors and hedge funds.

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.