Marriott International (NASDAQ:MAR) Shares Gap Down on Analyst Downgrade

Marriott International, Inc. (NASDAQ:MAR) shares gapped down prior to trading on Friday after Truist Financial lowered their price target on the stock from $308.00 to $300.00. The stock had previously closed at $244.84, but opened at $235.79. Truist Financial currently has a hold rating on the stock. Marriott International shares last traded at $233.17, with a volume of 851,416 shares traded.

Several other research firms also recently weighed in on MAR. Susquehanna increased their price target on shares of Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Morgan Stanley raised their price objective on shares of Marriott International from $289.00 to $298.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on shares of Marriott International from $251.00 to $269.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. The Goldman Sachs Group raised their price objective on shares of Marriott International from $280.00 to $314.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Evercore ISI upgraded shares of Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price objective on the stock in a research report on Tuesday, February 4th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Marriott International presently has an average rating of “Hold” and an average target price of $286.05.

Insider Buying and Selling

In related news, insider William P. Brown sold 12,642 shares of Marriott International stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the completion of the transaction, the insider now directly owns 30,919 shares of the company’s stock, valued at approximately $8,831,393.97. The trade was a 29.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 1,054 shares of Marriott International stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $277.48, for a total transaction of $292,463.92. Following the sale, the director now owns 4,551 shares of the company’s stock, valued at $1,262,811.48. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,694 shares of company stock valued at $8,938,132. Company insiders own 12.32% of the company’s stock.

Institutional Investors Weigh In On Marriott International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. bought a new stake in Marriott International during the 4th quarter valued at about $25,000. Bernard Wealth Management Corp. bought a new stake in shares of Marriott International in the 4th quarter valued at about $25,000. Bell Investment Advisors Inc raised its holdings in shares of Marriott International by 112.2% in the 4th quarter. Bell Investment Advisors Inc now owns 104 shares of the company’s stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of Marriott International by 494.4% in the 4th quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock valued at $30,000 after purchasing an additional 89 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Marriott International in the 4th quarter valued at about $33,000. Institutional investors own 70.70% of the company’s stock.

Marriott International Stock Performance

The firm has a market cap of $64.17 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 3.42 and a beta of 1.58. The firm’s fifty day moving average price is $276.20 and its 200 day moving average price is $269.79.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. As a group, analysts expect that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.52 annualized dividend and a dividend yield of 1.08%. Marriott International’s dividend payout ratio (DPR) is presently 30.29%.

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.