Marriott International (NASDAQ:MAR) Price Target Raised to $283.00

Marriott International (NASDAQ:MAR) had its price objective lifted by Stifel Nicolaus from $252.00 to $283.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other brokerages also recently issued reports on MAR. Robert W. Baird lifted their price target on shares of Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Sanford C. Bernstein lifted their price objective on shares of Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. UBS Group cut their price target on Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. TD Cowen decreased their price target on Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Barclays raised their target price on Marriott International from $240.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $260.20.

Marriott International Stock Down 0.9 %

Shares of MAR opened at $285.60 on Tuesday. Marriott International has a fifty-two week low of $200.94 and a fifty-two week high of $289.80. The company has a market cap of $79.37 billion, a P/E ratio of 29.87, a PEG ratio of 5.67 and a beta of 1.58. The firm’s 50 day moving average price is $265.80 and its 200 day moving average price is $244.71.

Marriott International (NASDAQ:MAR) last released its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $2.11 earnings per share. Research analysts forecast that Marriott International will post 9.26 earnings per share for the current year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a yield of 0.88%. Marriott International’s payout ratio is currently 26.36%.

Insider Buying and Selling

In other news, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the completion of the transaction, the executive vice president now owns 12,286 shares in the company, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William P. Brown sold 1,707 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $284.30, for a total transaction of $485,300.10. Following the sale, the insider now directly owns 23,077 shares in the company, valued at approximately $6,560,791.10. This represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,815 shares of company stock valued at $3,919,739 over the last ninety days. Corporate insiders own 12.32% of the company’s stock.

Institutional Investors Weigh In On Marriott International

Several institutional investors have recently modified their holdings of MAR. Bangor Savings Bank boosted its position in Marriott International by 131.1% during the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after purchasing an additional 59 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in Marriott International in the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC purchased a new position in Marriott International during the 2nd quarter valued at about $28,000. Silvant Capital Management LLC acquired a new position in Marriott International during the third quarter worth about $31,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Marriott International in the third quarter valued at approximately $33,000. 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.