Marriott International (NASDAQ:MAR) Sets New 12-Month High – Here’s Why

Marriott International, Inc. (NASDAQ:MAR) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $331.19 and last traded at $330.8640, with a volume of 276836 shares. The stock had previously closed at $326.45.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MAR. Evercore ISI lifted their price objective on Marriott International from $320.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Morgan Stanley upped their price objective on Marriott International from $296.00 to $328.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Wells Fargo & Company started coverage on Marriott International in a research report on Tuesday, November 18th. They set an “overweight” rating and a $329.00 price objective for the company. Citigroup upped their target price on shares of Marriott International from $285.00 to $345.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Finally, The Goldman Sachs Group upgraded shares of Marriott International from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $288.00 to $345.00 in a report on Monday, December 15th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $316.19.

Marriott International Stock Up 1.5%

The stock has a market capitalization of $88.91 billion, a PE ratio of 34.94, a P/E/G ratio of 2.54 and a beta of 1.13. The business’s fifty day moving average is $312.61 and its 200-day moving average is $285.12.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $6.46 billion. Marriott International had a net margin of 10.07% and a negative return on equity of 89.29%. As a group, sell-side analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Insider Activity

In other news, insider Deborah Marriott Harrison sold 70,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $291.63, for a total transaction of $20,414,100.00. Following the completion of the sale, the insider owned 175,210 shares in the company, valued at approximately $51,096,492.30. The trade was a 28.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peggy Roe sold 2,000 shares of Marriott International stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $292.12, for a total transaction of $584,240.00. Following the transaction, the executive vice president directly owned 17,466 shares in the company, valued at approximately $5,102,167.92. This trade represents a 10.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 74,490 shares of company stock valued at $21,756,389 in the last three months. Corporate insiders own 10.68% of the company’s stock.

Hedge Funds Weigh In On Marriott International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its position in shares of Marriott International by 85.0% during the fourth quarter. Global Retirement Partners LLC now owns 3,418 shares of the company’s stock worth $1,060,000 after acquiring an additional 1,570 shares during the last quarter. Trajan Wealth LLC increased its holdings in Marriott International by 11.1% during the 4th quarter. Trajan Wealth LLC now owns 5,556 shares of the company’s stock worth $1,724,000 after purchasing an additional 557 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of Marriott International during the 4th quarter valued at approximately $191,000. Lazard Freres Gestion S.A.S. grew its position in shares of Marriott International by 1.4% during the fourth quarter. Lazard Freres Gestion S.A.S. now owns 191,585 shares of the company’s stock worth $59,437,000 after buying an additional 2,635 shares in the last quarter. Finally, Northbridge Financial Group LLC acquired a new stake in Marriott International in the fourth quarter valued at $843,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

About Marriott International

Marriott International is a global lodging company that develops, manages and franchises a broad portfolio of hotels and related lodging facilities. Its core activities include hotel and resort management, franchise operations, property development and the provision of centralized services such as reservations, marketing and loyalty program management. The company’s brand architecture spans market segments from luxury and premium to select-service and extended-stay, enabling it to serve a wide range of business and leisure travelers as well as corporate and group customers.

The company traces its roots to the hospitality business founded by J.