Truist Financial Issues Pessimistic Forecast for Marriott International (NASDAQ:MAR) Stock Price

Marriott International (NASDAQ:MAR - Free Report) had its price target decreased by Truist Financial from $300.00 to $273.00 in a research report released on Friday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

MAR has been the topic of several other reports. Wells Fargo & Company dropped their price objective on shares of Marriott International from $285.00 to $277.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Barclays dropped their price objective on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley dropped their price objective on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. 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 research note on Tuesday, February 4th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $245.00 price objective (down from $313.00) on shares of Marriott International in a research note on Monday, April 14th. Thirteen analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $275.15.

Marriott International Stock Performance

MAR stock traded down $0.12 during midday trading on Friday, reaching $263.49. 1,245,300 shares of the company were exchanged, compared to its average volume of 1,609,909. Marriott International has a 1-year low of $204.55 and a 1-year high of $307.52. The stock's 50-day simple moving average is $243.22 and its 200 day simple moving average is $265.98. The company has a market cap of $72.17 billion, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 3.42 and a beta of 1.39.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.25 by $0.07. The company had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.19 billion. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $2.13 earnings per share. On average, research analysts anticipate that Marriott International will post 10.1 earnings per share for the current year.

Marriott International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 23rd will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 1.02%. This is a positive change from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date is Friday, May 23rd. Marriott International's dividend payout ratio is 30.52%.

Insider Activity

In other news, EVP Benjamin T. Breland sold 1,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the completion of the transaction, the executive vice president now owns 20,724 shares of the company's stock, valued at $5,599,832.04. This represents a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 10.68% of the company's stock.

Institutional Trading of Marriott International

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wescott Financial Advisory Group LLC increased its position in Marriott International by 0.6% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 5,554 shares of the company's stock worth $1,549,000 after purchasing an additional 35 shares in the last quarter. TFG Advisers LLC increased its position in Marriott International by 0.8% during the 4th quarter. TFG Advisers LLC now owns 4,426 shares of the company's stock worth $1,235,000 after purchasing an additional 37 shares in the last quarter. Evermay Wealth Management LLC increased its position in Marriott International by 1.1% during the 4th quarter. Evermay Wealth Management LLC now owns 3,415 shares of the company's stock worth $953,000 after purchasing an additional 38 shares in the last quarter. CreativeOne Wealth LLC increased its position in Marriott International by 2.1% during the 1st quarter. CreativeOne Wealth LLC now owns 1,831 shares of the company's stock worth $436,000 after purchasing an additional 38 shares in the last quarter. Finally, Essex Financial Services Inc. increased its position in Marriott International by 1.3% during the 4th quarter. Essex Financial Services Inc. now owns 3,004 shares of the company's stock worth $838,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company's stock.

About Marriott International

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.