Marriott International (NASDAQ:MAR) Shares Gap Down on Analyst Downgrade

Shares of Marriott International, Inc. (NASDAQ:MAR) gapped down prior to trading on Friday after Truist Financial lowered their price target on the stock from $308.00 to $300.00. The stock had previously closed at $244.84, but opened at $235.79. Truist Financial currently has a hold rating on the stock. Marriott International shares last traded at $233.17, with a volume of 851,416 shares traded.

Several other brokerages have also commented on MAR. Barclays lowered their price objective on shares of Marriott International from $287.00 to $283.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on shares of Marriott International from $289.00 to $298.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Mizuho lifted their target price on shares of Marriott International from $246.00 to $293.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Evercore ISI upgraded shares of Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 target price for the company in a research note on Tuesday, February 4th. Finally, UBS Group lifted their target price on shares of Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Marriott International currently has a consensus rating of “Hold” and an average target price of $286.05.

Insider Transactions at Marriott International

In related news, CFO Kathleen K. Oberg sold 14,498 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the completion of the sale, the chief financial officer now directly owns 14,282 shares in the company, valued at $3,971,395.74. This represents a 50.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 1,054 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $277.48, for a total transaction of $292,463.92. Following the sale, the director now owns 4,551 shares of the company’s stock, valued at $1,262,811.48. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,694 shares of company stock worth $8,938,132. 12.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marriott International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Marriott International in the 4th quarter worth $580,922,000. Wellington Management Group LLP grew its position in shares of Marriott International by 50.8% in the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company’s stock worth $1,300,168,000 after buying an additional 1,570,144 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Marriott International in the 4th quarter worth about $165,162,000. Invesco Ltd. grew its position in shares of Marriott International by 17.4% in the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company’s stock worth $967,662,000 after buying an additional 512,963 shares during the period. Finally, PointState Capital LP purchased a new stake in shares of Marriott International in the 3rd quarter worth about $98,249,000. 70.70% of the stock is currently owned by institutional investors.

Marriott International Stock Performance

The stock’s 50-day moving average price is $275.53 and its two-hundred day moving average price is $269.81. The stock has a market capitalization of $65.47 billion, a PE ratio of 28.54, a P/E/G ratio of 3.42 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. On average, analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, February 27th will be paid a $0.63 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.52 annualized dividend and a yield of 1.06%. Marriott International’s dividend payout ratio (DPR) is presently 30.29%.

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.