Wells Fargo & Company Cuts Marriott International (NASDAQ:MAR) Price Target to $248.00

Marriott International (NASDAQ:MAR) had its price objective reduced by Wells Fargo & Company from $250.00 to $248.00 in a research note published on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Argus increased their price objective on Marriott International from $270.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. UBS Group raised their price target on Marriott International from $210.00 to $259.00 and gave the company a neutral rating in a report on Wednesday, February 28th. Barclays boosted their price objective on Marriott International from $239.00 to $240.00 and gave the stock an equal weight rating in a report on Friday, April 19th. Mizuho lifted their target price on shares of Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a research report on Thursday. Finally, BMO Capital Markets raised their price objective on shares of Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $241.33.

Marriott International Price Performance

Shares of Marriott International stock traded down $0.97 during trading hours on Thursday, reaching $234.59. The company had a trading volume of 1,572,856 shares, compared to its average volume of 1,539,790. The business has a fifty day simple moving average of $247.40 and a 200 day simple moving average of $228.39. The firm has a market cap of $67.00 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 5.24 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 announced its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.95 billion. Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 earnings per share. On average, research analysts forecast that Marriott International will post 9.49 EPS for the current year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.52 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.08 annualized dividend and a dividend yield of 0.89%. Marriott International’s dividend payout ratio (DPR) is presently 21.47%.

Insiders Place Their Bets

In other Marriott International news, CEO Anthony Capuano sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $248.48, for a total transaction of $4,969,600.00. Following the transaction, the chief executive officer now owns 93,323 shares in the company, valued at approximately $23,188,899.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Anthony Capuano sold 20,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $248.48, for a total value of $4,969,600.00. Following the completion of the transaction, the chief executive officer now directly owns 93,323 shares in the company, valued at approximately $23,188,899.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eric Hippeau sold 2,600 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $237.40, for a total transaction of $617,240.00. Following the completion of the sale, the director now owns 1,472 shares in the company, valued at approximately $349,452.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,003 shares of company stock worth $30,435,493. 12.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marriott International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates lifted its position in Marriott International by 33.0% in the 3rd quarter. Raymond James & Associates now owns 540,684 shares of the company’s stock valued at $106,277,000 after acquiring an additional 134,079 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Marriott International by 14.2% during the third quarter. Stratos Wealth Partners LTD. now owns 22,976 shares of the company’s stock valued at $4,516,000 after purchasing an additional 2,858 shares in the last quarter. Stratos Wealth Advisors LLC bought a new stake in Marriott International in the 3rd quarter worth about $310,000. Segment Wealth Management LLC raised its position in Marriott International by 2,786.7% in the 3rd quarter. Segment Wealth Management LLC now owns 50,517 shares of the company’s stock worth $9,930,000 after buying an additional 48,767 shares during the last quarter. Finally, Strategic Investment Advisors MI bought a new stake in shares of Marriott International in the third quarter worth approximately $714,000. 70.70% of the stock is currently owned by institutional investors.

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.