Marriott International (NASDAQ:MAR) Sets New 52-Week High – Here’s Why

Marriott International, Inc. (NASDAQ:MAR)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $302.28 and last traded at $302.11, with a volume of 253506 shares changing hands. The stock had previously closed at $292.39.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MAR. Wells Fargo & Company boosted their target price on shares of Marriott International from $262.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Sanford C. Bernstein raised their price target on Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. TD Cowen cut their price objective on shares of Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Macquarie reiterated a “neutral” rating and issued a $245.00 target price on shares of Marriott International in a report on Tuesday, November 5th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $276.35.

Marriott International Stock Performance

The firm has a market cap of $83.99 billion, a P/E ratio of 31.64, a P/E/G ratio of 4.68 and a beta of 1.57. The firm has a fifty day moving average of $283.30 and a 200-day moving average of $259.98.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period last year, the business earned $2.11 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that Marriott International, Inc. will post 9.26 earnings per share for the current year.

Insider Transactions at Marriott International

In other news, CFO Kathleen K. Oberg sold 2,360 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $285.41, for a total value of $673,567.60. Following the completion of the sale, the chief financial officer now owns 39,726 shares in the company, valued at $11,338,197.66. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony Capuano sold 8,332 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total value of $2,370,370.68. Following the transaction, the chief executive officer now directly owns 108,361 shares in the company, valued at $30,827,620.89. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,399 shares of company stock worth $3,529,238. Company insiders own 10.07% of the company’s stock.

Hedge Funds Weigh In On Marriott International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jensen Investment Management Inc. bought a new position in shares of Marriott International in the third quarter valued at approximately $793,000. BayBridge Capital Group LLC bought a new stake in shares of Marriott International in the 3rd quarter worth about $1,254,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Marriott International by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock valued at $140,844,000 after purchasing an additional 2,723 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in Marriott International during the third quarter worth about $2,721,000. Finally, Kinsale Capital Group Inc. bought a new position in shares of Marriott International in the third quarter valued at approximately $3,769,000. Institutional investors 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.