Marriott International (NASDAQ:MAR) had its target price lifted by SunTrust Banks, Inc. to $108.00 in a research note issued to investors on Thursday morning. The firm currently has a hold rating on the stock.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Marriott International from a sell rating to a hold rating in a report on Wednesday, August 9th. BidaskClub raised shares of Marriott International from a buy rating to a strong-buy rating in a report on Thursday, October 12th. Robert W. Baird set a $103.00 price target on shares of Marriott International and gave the stock a hold rating in a report on Tuesday, October 17th. UBS AG reaffirmed a neutral rating and set a $101.00 price target (up previously from $98.00) on shares of Marriott International in a report on Monday, August 14th. Finally, Royal Bank of Canada reaffirmed a buy rating on shares of Marriott International in a report on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $106.64.
Shares of Marriott International (MAR) traded up $1.30 during trading hours on Thursday, hitting $120.11. 3,377,000 shares of the company’s stock were exchanged, compared to its average volume of 2,456,549. Marriott International has a 1 year low of $72.75 and a 1 year high of $124.34. The firm has a market cap of $43,315.90, a price-to-earnings ratio of 29.05, a PEG ratio of 3.06 and a beta of 1.34. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.53 and a current ratio of 0.52.
Marriott International (NASDAQ:MAR) last announced its earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.12. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the business posted $0.91 EPS. The business’s revenue was up 43.7% compared to the same quarter last year. analysts forecast that Marriott International will post 4.22 earnings per share for the current fiscal year.
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Marriott International declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 9th that allows the company to repurchase 30,000,000 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s dividend payout ratio (DPR) is currently 35.87%.
In other news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $99.84, for a total transaction of $2,995,200.00. Following the completion of the sale, the insider now directly owns 493,896 shares in the company, valued at $49,310,576.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Juliana B. Marriott sold 8,400 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $100.51, for a total transaction of $844,284.00. Following the sale, the insider now owns 18,000 shares of the company’s stock, valued at $1,809,180. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,727 shares of company stock valued at $11,339,600. Corporate insiders own 11.32% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC increased its position in shares of Marriott International by 1,490.1% during the second quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock worth $113,000 after buying an additional 1,058 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Marriott International during the first quarter worth $115,000. Baker Ellis Asset Management LLC acquired a new stake in shares of Marriott International during the second quarter worth $133,000. First Quadrant L P CA acquired a new stake in shares of Marriott International during the third quarter worth $136,000. Finally, Carroll Financial Associates Inc. increased its position in shares of Marriott International by 175.6% during the third quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock worth $147,000 after buying an additional 843 shares during the period. Institutional investors own 66.06% of the company’s stock.
About Marriott International
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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