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

Marriott International, Inc. (NASDAQ:MAR - Get Free Report) shares 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 trading hands.

MAR has been the topic of a number of other research reports. The Goldman Sachs Group lifted their price target on Marriott International from $280.00 to $314.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Morgan Stanley boosted their price target on Marriott International from $289.00 to $298.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. 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 note on Tuesday, February 4th. Argus boosted their price target on shares of Marriott International from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their price target on Marriott International from $285.00 to $277.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $286.05.

Remove Ads

Insider Activity at Marriott International

In related news, EVP Rena Hozore Reiss sold 3,500 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the transaction, the executive vice president now directly owns 24,733 shares in the company, valued at $7,089,714.45. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kathleen K. Oberg sold 14,498 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the completion of the sale, the chief financial officer now directly owns 14,282 shares in the company, valued at $3,971,395.74. This trade represents a 50.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,694 shares of company stock valued at $8,938,132. Insiders own 12.32% of the company's stock.

Hedge Funds Weigh In On Marriott International

Several hedge funds and other institutional investors have recently modified their holdings of MAR. Norges Bank bought a new position in shares of Marriott International during the fourth quarter valued at $580,922,000. Wellington Management Group LLP increased its position in shares of Marriott International by 50.8% during the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock worth $1,300,168,000 after purchasing an additional 1,570,144 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Marriott International during the 4th quarter valued at $165,162,000. Invesco Ltd. boosted its stake in Marriott International by 17.4% in the fourth quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock worth $967,662,000 after purchasing an additional 512,963 shares in the last quarter. Finally, PointState Capital LP bought a new position in shares of Marriott International in the third quarter valued at about $98,249,000. Institutional investors own 70.70% of the company's stock.

Marriott International Stock Performance

The firm has a market cap of $66.51 billion, a price-to-earnings ratio of 28.99, a P/E/G ratio of 3.42 and a beta of 1.58. The company's 50-day moving average is $275.53 and its 200-day moving average is $270.37.

Marriott International (NASDAQ:MAR - Get Free Report) last released 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%. On average, analysts predict that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, February 27th. 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.