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

Marriott International, Inc. (NASDAQ:MAR)’s stock price 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.

Other analysts also recently issued research reports about the stock. Mizuho boosted their target price on shares of Marriott International from $246.00 to $293.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Evercore ISI raised 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 report on Tuesday, February 4th. Morgan Stanley upped their price objective on shares of 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 shares of Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Susquehanna increased their price target on shares of Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Marriott International currently has an average rating of “Hold” and a consensus target price of $286.05.

Insider Activity

In related news, Director Susan C. Schwab sold 1,054 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $277.48, for a total value of $292,463.92. Following the completion of the transaction, the director now directly owns 4,551 shares in the company, valued at approximately $1,262,811.48. This represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kathleen K. Oberg sold 14,498 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $278.07, for a total value of $4,031,458.86. Following the transaction, the chief financial officer now owns 14,282 shares of the company’s stock, valued at approximately $3,971,395.74. This represents a 50.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,694 shares of company stock worth $8,938,132 over the last three months. Insiders own 12.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MAR. Hopwood Financial Services Inc. purchased a new position in shares of Marriott International during the fourth quarter worth $25,000. Bernard Wealth Management Corp. purchased a new position in shares of Marriott International during the fourth quarter worth $25,000. Bell Investment Advisors Inc boosted its position in shares of Marriott International by 112.2% during the fourth quarter. Bell Investment Advisors Inc now owns 104 shares of the company’s stock worth $29,000 after buying an additional 55 shares during the period. Sound Income Strategies LLC boosted its holdings in Marriott International by 494.4% in the fourth quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock valued at $30,000 after purchasing an additional 89 shares during the period. Finally, Darwin Wealth Management LLC purchased a new position in Marriott International in the third quarter valued at $33,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Marriott International Stock Down 4.9 %

The stock has a market capitalization of $64.17 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 3.42 and a beta of 1.58. The stock has a fifty day moving average of $276.20 and a 200-day moving average of $269.79.

Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, February 27th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, February 27th. 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.