Marriott International (NASDAQ:MAR) Given New $285.00 Price Target at Wells Fargo & Company

Marriott International (NASDAQ:MAR) had its target price upped by Wells Fargo & Company from $262.00 to $285.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group increased their price target on shares of Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. Evercore ISI upgraded shares of Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price target on the stock in a research note on Tuesday. BMO Capital Markets increased their price objective on Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Truist Financial increased their price objective on Marriott International from $254.00 to $277.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird increased their price objective on Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $276.35.

Marriott International Stock Performance

MAR stock opened at $290.75 on Tuesday. The company’s 50 day moving average price is $283.11 and its 200 day moving average price is $259.42. Marriott International has a fifty-two week low of $204.55 and a fifty-two week high of $295.45. The firm has a market capitalization of $80.80 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 4.68 and a beta of 1.57.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.05). The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.11 earnings per share. Equities analysts forecast that Marriott International will post 9.26 EPS for the current fiscal year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, November 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, November 21st. Marriott International’s payout ratio is 26.36%.

Insider Activity at Marriott International

In other news, CEO Anthony Capuano sold 8,332 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were 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 owns 108,361 shares of the company’s stock, valued at $30,827,620.89. This represents a 7.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Felitia Lee sold 916 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $276.48, for a total value of $253,255.68. Following the sale, the chief accounting officer now owns 5,609 shares of the company’s stock, valued at $1,550,776.32. The trade was a 14.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,315 shares of company stock valued at $3,782,494. 10.07% of the stock is owned by insiders.

Institutional Trading of Marriott International

Institutional investors have recently modified their holdings of the company. Jensen Investment Management Inc. purchased a new position in Marriott International in the 3rd quarter worth approximately $793,000. BayBridge Capital Group LLC purchased a new position in Marriott International in the 3rd quarter worth approximately $1,254,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Marriott International by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock worth $140,844,000 after acquiring an additional 2,723 shares during the period. Oddo BHF Asset Management Sas purchased a new position in Marriott International in the 3rd quarter worth approximately $2,721,000. Finally, Kinsale Capital Group Inc. purchased a new position in Marriott International in the 3rd quarter worth approximately $3,769,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Company Profile

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.