Marriott International (NASDAQ:MAR) Hits New 1-Year High – Here’s Why

Marriott International, Inc. (NASDAQ:MAR) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $287.00 and last traded at $286.48, with a volume of 577592 shares trading hands. The stock had previously closed at $285.91.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Truist Financial lowered their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Bank of America boosted their price target on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Sanford C. Bernstein lifted their price target on Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Evercore ISI increased their target price on shares of Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $259.00.

Marriott International Trading Down 1.6 %

The company has a market cap of $78.37 billion, a P/E ratio of 29.97, a PEG ratio of 5.63 and a beta of 1.58. The business’s 50 day simple moving average is $254.51 and its 200 day simple moving average is $241.18.

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

Marriott International Announces Dividend

The firm 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 annualized dividend and a yield of 0.89%. Marriott International’s dividend payout ratio (DPR) is currently 26.36%.

Insider Buying and Selling at Marriott International

In other Marriott International news, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total value of $137,245.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony Capuano sold 8,332 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the completion of the transaction, the chief executive officer now directly owns 108,361 shares in the company, valued at $30,827,620.89. This represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,108 shares of company stock worth $3,434,439 over the last ninety days. Company insiders own 12.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bangor Savings Bank grew its stake in shares of 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 acquiring an additional 59 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in Marriott International during the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC purchased a new position in shares of Marriott International in the second quarter worth $28,000. Silvant Capital Management LLC acquired a new stake in shares of Marriott International during the third quarter worth $31,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Marriott International in the 3rd quarter valued at $33,000. 70.70% of the stock is currently owned by hedge funds and other 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, City Express by Marriott, and St.