Marriott International (NASDAQ:MAR) Price Target Increased to $270.00 by Analysts at Evercore ISI

Marriott International (NASDAQ:MAR) had its price objective lifted by Evercore ISI from $245.00 to $270.00 in a report issued on Monday morning, Benzinga reports. The firm currently has an in-line rating on the stock.

Several other research firms have also recently commented on MAR. Morgan Stanley lowered their target price on Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. The Goldman Sachs Group initiated coverage on shares of Marriott International in a report on Wednesday, September 18th. They issued a “buy” rating and a $267.00 price objective for the company. Truist Financial dropped their price target on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company lowered their price objective on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Finally, Robert W. Baird set a $258.00 target price on Marriott International in a research report on Thursday. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $253.16.

Marriott International Price Performance

Shares of MAR opened at $264.97 on Monday. The company has a market cap of $75.68 billion, a P/E ratio of 27.34, a PEG ratio of 6.15 and a beta of 1.59. Marriott International has a 12 month low of $180.75 and a 12 month high of $266.58. The stock has a fifty day moving average price of $239.95 and a 200 day moving average price of $238.44.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, beating 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 firm had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same period last year, the firm posted $2.26 EPS. Marriott International’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that Marriott International will post 9.37 earnings per share for the current year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 16th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Friday, August 16th. Marriott International’s dividend payout ratio is 26.01%.

Institutional Trading of Marriott International

Hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Marriott International by 36,856.7% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock worth $58,346,000 after acquiring an additional 240,674 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Marriott International by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock worth $2,678,750,000 after purchasing an additional 192,652 shares in the last quarter. Capital International Investors boosted its holdings in shares of Marriott International by 4.7% during the first quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock worth $831,836,000 after purchasing an additional 149,378 shares during the period. AXA S.A. increased its stake in Marriott International by 133.4% in the 2nd quarter. AXA S.A. now owns 221,045 shares of the company’s stock valued at $53,442,000 after buying an additional 126,323 shares during the period. Finally, Border to Coast Pensions Partnership Ltd purchased a new stake in Marriott International in the 3rd quarter worth approximately $27,284,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

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.