Truist Financial Cuts Marriott International (NASDAQ:MAR) Price Target to $273.00

Marriott International (NASDAQ:MAR) had its price target cut by Truist Financial from $300.00 to $273.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

MAR has been the subject of several other research reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $245.00 price target (down previously from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Melius Research upgraded shares of Marriott International to a “strong-buy” rating in a report on Monday, April 21st. UBS Group decreased their price objective on shares of Marriott International from $302.00 to $299.00 and set a “neutral” rating for the company in a report on Wednesday, May 21st. Jefferies Financial Group upgraded shares of Marriott International from a “hold” rating to a “buy” rating and boosted their price objective for the company from $226.00 to $303.00 in a report on Monday, May 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Marriott International from $285.00 to $277.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marriott International currently has an average rating of “Moderate Buy” and a consensus price target of $275.15.

Marriott International Trading Down 0.0%

Shares of NASDAQ MAR opened at $263.49 on Friday. Marriott International has a 1-year low of $204.55 and a 1-year high of $307.52. The company has a market cap of $72.17 billion, a PE ratio of 31.67, a P/E/G ratio of 3.42 and a beta of 1.39. The company has a 50-day moving average of $243.22 and a two-hundred day moving average of $265.98.

Marriott International (NASDAQ:MAR) last announced its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.07. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts forecast that Marriott International will post 10.1 earnings per share for the current year.

Marriott International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 23rd will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from Marriott International’s previous quarterly dividend of $0.63. Marriott International’s payout ratio is currently 30.52%.

Insider Transactions at Marriott International

In other news, EVP Benjamin T. Breland sold 1,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $270.21, for a total value of $270,210.00. Following the sale, the executive vice president now owns 20,724 shares of the company’s stock, valued at $5,599,832.04. The trade was a 4.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marriott International

A number of institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio bought a new stake in shares of Marriott International in the 1st quarter valued at about $18,020,000. Jacobi Capital Management LLC raised its holdings in shares of Marriott International by 1.2% in the 1st quarter. Jacobi Capital Management LLC now owns 3,798 shares of the company’s stock valued at $905,000 after purchasing an additional 45 shares during the period. McAdam LLC raised its holdings in shares of Marriott International by 16.1% in the 1st quarter. McAdam LLC now owns 1,675 shares of the company’s stock valued at $399,000 after purchasing an additional 232 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Marriott International by 1.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,387 shares of the company’s stock valued at $569,000 after purchasing an additional 40 shares during the period. Finally, Intech Investment Management LLC grew its stake in Marriott International by 21.8% in the 1st quarter. Intech Investment Management LLC now owns 6,035 shares of the company’s stock valued at $1,438,000 after buying an additional 1,079 shares during the last quarter. 70.70% of the stock is owned by institutional investors.

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.