Marriott International (NASDAQ:MAR) Reaches New 12-Month High – Here’s What Happened

Marriott International, Inc. (NASDAQ:MAR)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $264.56 and last traded at $264.08, with a volume of 7753 shares trading hands. The stock had previously closed at $262.57.

Analyst Upgrades and Downgrades

MAR has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. UBS Group cut their price target on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Sanford C. Bernstein raised shares of Marriott International from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $247.00 to $262.00 in a research note on Thursday, August 29th. Morgan Stanley cut their price target on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Truist Financial cut their price target on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Marriott International currently has an average rating of “Hold” and a consensus target price of $248.65.

Marriott International Trading Up 0.1 %

The stock’s fifty day moving average is $237.02 and its 200 day moving average is $238.19. The company has a market capitalization of $75.05 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 6.15 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period in the prior year, the business earned $2.26 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts expect that Marriott International, Inc. will post 9.37 EPS for the current fiscal year.

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 16th were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 0.96%. Marriott International’s dividend payout ratio (DPR) is presently 26.01%.

Institutional Trading of Marriott International

A number of hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in Marriott International by 1.8% during the 1st quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after purchasing an additional 192,652 shares during the last quarter. Capital International Investors grew its position in Marriott International by 4.7% during the 1st quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after purchasing an additional 149,378 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Marriott International by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 679,757 shares of the company’s stock valued at $164,355,000 after purchasing an additional 33,149 shares during the last quarter. Harbor Investment Advisory LLC grew its position in Marriott International by 11.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 635,202 shares of the company’s stock valued at $160,268,000 after purchasing an additional 67,659 shares during the last quarter. Finally, First Pacific Advisors LP boosted its holdings in shares of Marriott International by 2.1% during the 2nd quarter. First Pacific Advisors LP now owns 613,205 shares of the company’s stock valued at $148,255,000 after acquiring an additional 12,499 shares during the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

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.