Marriott International (NASDAQ:MAR) Given New $323.00 Price Target at JPMorgan Chase & Co.

Marriott International (NASDAQ:MAR) had its price objective lifted by JPMorgan Chase & Co. from $294.00 to $323.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued research reports about the company. Robert W. Baird cut their price objective on Marriott International from $287.00 to $285.00 and set a “neutral” rating on the stock in a report on Tuesday, October 21st. BMO Capital Markets upgraded shares of Marriott International from a “market perform” rating to an “outperform” rating and upped their price target for the company from $285.00 to $370.00 in a research report on Friday, January 9th. Wells Fargo & Company initiated coverage on shares of Marriott International in a research report on Tuesday, November 18th. They set an “overweight” rating and a $329.00 price objective on the stock. Truist Financial increased their target price on Marriott International from $278.00 to $283.00 and gave the company a “hold” rating in a report on Thursday, December 4th. Finally, Sanford C. Bernstein lifted their price target on Marriott International from $329.00 to $369.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Marriott International has a consensus rating of “Moderate Buy” and a consensus target price of $316.19.

Marriott International Trading Down 0.3%

Marriott International stock opened at $318.42 on Tuesday. The company’s 50-day moving average price is $311.77 and its two-hundred day moving average price is $284.55. The stock has a market cap of $85.45 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.50 and a beta of 1.13. Marriott International has a 52 week low of $205.40 and a 52 week high of $331.09.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.09. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $6.46 billion. Marriott International had a net margin of 10.07% and a negative return on equity of 89.29%. Research analysts expect that Marriott International will post 10.1 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Thursday, November 20th were paid a $0.67 dividend. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Marriott International’s payout ratio is presently 28.30%.

Insider Transactions at Marriott International

In other Marriott International news, insider Deborah Marriott Harrison sold 70,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $291.63, for a total transaction of $20,414,100.00. Following the completion of the sale, the insider directly owned 175,210 shares of the company’s stock, valued at approximately $51,096,492.30. The trade was a 28.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peggy Roe sold 2,000 shares of Marriott International stock in a transaction on Monday, November 10th. The stock was sold at an average price of $292.12, for a total transaction of $584,240.00. Following the sale, the executive vice president directly owned 17,466 shares of the company’s stock, valued at $5,102,167.92. This represents a 10.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 88,289 shares of company stock valued at $25,669,425. 10.68% of the stock is owned by company insiders.

Institutional Trading of Marriott International

A number of large investors have recently bought and sold shares of MAR. NewEdge Wealth LLC lifted its stake in Marriott International by 52.1% in the 4th quarter. NewEdge Wealth LLC now owns 6,425 shares of the company’s stock valued at $1,993,000 after acquiring an additional 2,201 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Marriott International by 4.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 9,141 shares of the company’s stock valued at $2,836,000 after purchasing an additional 369 shares during the last quarter. Ethic Inc. boosted its holdings in Marriott International by 20.6% during the fourth quarter. Ethic Inc. now owns 13,168 shares of the company’s stock worth $4,085,000 after purchasing an additional 2,247 shares during the last quarter. Ballentine Partners LLC grew its position in Marriott International by 4.1% in the fourth quarter. Ballentine Partners LLC now owns 7,969 shares of the company’s stock valued at $2,472,000 after purchasing an additional 311 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Marriott International by 46.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,803 shares of the company’s stock worth $559,000 after buying an additional 574 shares in the last quarter. 70.70% of the stock is owned by institutional investors.

About Marriott International

Marriott International is a global lodging company that develops, manages and franchises a broad portfolio of hotels and related lodging facilities. Its core activities include hotel and resort management, franchise operations, property development and the provision of centralized services such as reservations, marketing and loyalty program management. The company’s brand architecture spans market segments from luxury and premium to select-service and extended-stay, enabling it to serve a wide range of business and leisure travelers as well as corporate and group customers.

The company traces its roots to the hospitality business founded by J.