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

Shares of Marriott International, Inc. (NASDAQ:MAR) gapped down before the market opened 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 analysts have also recently issued reports on MAR. Stifel Nicolaus upped their target price on Marriott International from $252.00 to $283.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Wells Fargo & Company dropped their target price on Marriott International from $285.00 to $277.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Morgan Stanley upped their target price on Marriott International from $289.00 to $298.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. UBS Group increased their price target on Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Argus increased their price target on Marriott International from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $286.05.

Insider Buying and Selling

In other Marriott International news, EVP Rena Hozore Reiss sold 3,500 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $286.65, for a total value of $1,003,275.00. Following the sale, the executive vice president now owns 24,733 shares of the company’s stock, valued at $7,089,714.45. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William P. Brown sold 12,642 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $285.63, for a total value of $3,610,934.46. Following the completion of the sale, the insider now directly owns 30,919 shares in the company, valued at $8,831,393.97. This represents a 29.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,694 shares of company stock valued at $8,938,132. Corporate insiders own 12.32% of the company’s stock.

Institutional Investors Weigh In On Marriott International

Hedge funds have recently bought and sold shares of the stock. NewEdge Wealth LLC raised its position in shares of Marriott International by 34.4% during the 4th quarter. NewEdge Wealth LLC now owns 4,345 shares of the company’s stock worth $1,212,000 after acquiring an additional 1,112 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Marriott International during the 3rd quarter worth about $2,721,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Marriott International during the 4th quarter worth about $2,990,000. Markel Group Inc. raised its position in shares of Marriott International by 30.6% during the 4th quarter. Markel Group Inc. now owns 47,000 shares of the company’s stock worth $13,110,000 after acquiring an additional 11,000 shares in the last quarter. Finally, Covea Finance raised its position in shares of Marriott International by 69.9% during the 4th quarter. Covea Finance now owns 60,540 shares of the company’s stock worth $16,887,000 after acquiring an additional 24,900 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Stock Performance

The firm has a market cap of $65.47 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 3.42 and a beta of 1.58. The firm has a 50-day moving average price of $275.53 and a two-hundred day moving average price of $269.81.

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

Marriott International Announces Dividend

The company also recently declared 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 of this dividend is Thursday, February 27th. This represents a $2.52 dividend on an annualized basis and a yield of 1.06%. Marriott International’s dividend payout ratio is presently 30.29%.

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.