Marriott International (NASDAQ:MAR) PT Raised to $255.00 at JPMorgan Chase & Co.

Marriott International (NASDAQ:MAR) had its target price boosted by JPMorgan Chase & Co. from $235.00 to $255.00 in a research note published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other research analysts have also issued reports about the stock. Barclays increased their price objective on shares of Marriott International from $240.00 to $251.00 and gave the stock an equal weight rating in a report on Wednesday, July 17th. BMO Capital Markets increased their price target on shares of Marriott International from $235.00 to $240.00 and gave the stock a market perform rating in a research note on Thursday, May 2nd. Mizuho boosted their price objective on shares of Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a research note on Thursday, May 2nd. Susquehanna began coverage on Marriott International in a research report on Friday, June 21st. They issued a neutral rating and a $255.00 target price on the stock. Finally, Wells Fargo & Company lowered their price target on Marriott International from $250.00 to $248.00 and set an equal weight rating for the company in a research report on Thursday, May 2nd. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $243.59.

Marriott International Price Performance

NASDAQ:MAR opened at $243.91 on Friday. Marriott International has a 1-year low of $180.75 and a 1-year high of $260.57. The firm has a 50 day simple moving average of $238.81 and a 200-day simple moving average of $241.50. The firm has a market cap of $69.67 billion, a PE ratio of 25.17, a P/E/G ratio of 4.59 and a beta of 1.60.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.95 billion. Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. Marriott International’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.09 EPS. As a group, sell-side analysts expect that Marriott International will post 9.56 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 24th were given a dividend of $0.63 per share. This is a boost from Marriott International’s previous quarterly dividend of $0.52. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Thursday, May 23rd. Marriott International’s payout ratio is presently 26.01%.

Institutional Investors Weigh In On Marriott International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MAR. Norges Bank acquired a new position in shares of Marriott International in the fourth quarter worth about $461,525,000. Jennison Associates LLC boosted its stake in shares of Marriott International by 34.8% during the 4th quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock valued at $1,025,416,000 after buying an additional 1,173,028 shares during the last quarter. Capital International Investors grew its position in shares of Marriott International by 42.2% during the fourth quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock worth $709,793,000 after buying an additional 934,304 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in Marriott International in the first quarter valued at $153,697,000. Finally, Public Employees Retirement Association of Colorado boosted its stake in Marriott International by 557.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 496,505 shares of the company’s stock valued at $111,967,000 after acquiring an additional 420,962 shares during the last quarter. 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.