Wells Fargo & Company Raises Marriott International (NASDAQ:MAR) Price Target to $261.00

Marriott International (NASDAQ:MAR) had its target price upped by Wells Fargo & Company from $238.00 to $261.00 in a report published on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also issued reports on MAR. JPMorgan Chase & Co. boosted their target price on shares of Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Barclays raised their target price on Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 17th. Morgan Stanley cut their price target on Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, Truist Financial decreased their target price on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $256.39.

Marriott International Stock Up 1.1 %

Shares of MAR stock opened at $260.63 on Tuesday. Marriott International has a 52 week low of $180.75 and a 52 week high of $266.58. The firm has a market capitalization of $74.44 billion, a PE ratio of 26.90, a P/E/G ratio of 6.15 and a beta of 1.59. The company has a 50 day moving average price of $241.75 and a 200-day moving average price of $238.66.

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. The company had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. Marriott International’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 earnings per share. Analysts anticipate that Marriott International will post 9.37 earnings per share for the current year.

Marriott International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 0.97%. The ex-dividend date of this dividend was Friday, August 16th. Marriott International’s payout ratio is 26.01%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BDF Gestion purchased a new position in Marriott International in the second quarter worth about $3,013,000. CWM LLC raised its holdings in Marriott International by 518.7% during the 2nd quarter. CWM LLC now owns 47,519 shares of the company’s stock valued at $11,489,000 after buying an additional 39,839 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Marriott International in the second quarter worth $3,844,000. Wealth Enhancement Advisory Services LLC increased its position in Marriott International by 1.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 39,751 shares of the company’s stock valued at $9,611,000 after acquiring an additional 753 shares during the last quarter. Finally, Concord Investment Counsel Inc. purchased a new stake in shares of Marriott International in the first quarter valued at $5,879,000. 70.70% of the stock is owned by hedge funds and other 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.