Marriott International (NASDAQ:MAR) Sets New 52-Week High – Still a Buy?

Shares of Marriott International, Inc. (NASDAQ:MAR) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $287.00 and last traded at $286.48, with a volume of 577592 shares changing hands. The stock had previously closed at $285.91.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MAR. UBS Group lowered their price objective on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Sanford C. Bernstein upped their price target on Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group began coverage on Marriott International in a research note on Wednesday, September 18th. They set a “buy” rating and a $267.00 price objective for the company. Robert W. Baird upped their target price on Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Barclays lifted their price target on Marriott International from $240.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Thirteen investment 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.com, Marriott International presently has an average rating of “Hold” and an average target price of $259.00.

Marriott International Trading Down 1.6 %

The company has a market cap of $78.37 billion, a P/E ratio of 29.97, a P/E/G ratio of 5.63 and a beta of 1.58. The firm’s fifty day moving average price is $254.51 and its 200-day moving average price is $241.18.

Marriott International (NASDAQ:MAR) last issued its earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.11 earnings per share. As a group, research analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be paid a $0.63 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 0.89%. Marriott International’s dividend payout ratio is presently 26.36%.

Insiders Place Their Bets

In related news, CAO Felitia Lee sold 916 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total value of $253,255.68. Following the completion of the sale, the chief accounting officer now owns 5,609 shares in the company, valued at $1,550,776.32. This represents a 14.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the sale, the executive vice president now owns 12,286 shares in the company, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,108 shares of company stock valued at $3,434,439. 12.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marriott International

A number of institutional investors and hedge funds have recently modified their holdings of the company. Canoe Financial LP bought a new position in Marriott International in the 3rd quarter valued at about $77,331,000. International Assets Investment Management LLC grew its position in shares of Marriott International by 15,148.3% in the 3rd quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock valued at $75,208,000 after buying an additional 300,543 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Marriott International by 36,856.7% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock valued at $58,346,000 after buying an additional 240,674 shares during the period. JPMorgan Chase & Co. lifted its stake 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 acquiring an additional 192,652 shares during the period. Finally, Capital International Investors increased 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 period. 70.70% of the stock is owned by 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.