Marriott International (NASDAQ:MAR) Sets New 52-Week High on Strong Earnings

Marriott International, Inc. (NASDAQ:MAR)’s stock price hit a new 52-week high on Monday following a stronger than expected earnings report. The stock traded as high as $417.48 and last traded at $424.4970, with a volume of 30,770 shares changing hands. The stock had previously closed at $399.30.

The company reported $3.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.18. Marriott International had a net margin of 9.62% and a negative return on equity of 75.81%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the company posted $2.47 EPS. The company’s revenue for the quarter was up 8.0% on a year-over-year basis.

Marriott International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, August 20th were issued a $0.73 dividend. The ex-dividend date was Thursday, August 20th. This represents a $2.92 dividend on an annualized basis and a yield of 0.7%. Marriott International’s payout ratio is currently 30.26%.

Analyst Ratings Changes

Several brokerages recently issued reports on MAR. China Intl Cap upgraded shares of Marriott International to a “strong-buy” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group reduced their target price on Marriott International from $405.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. BMO Capital Markets dropped their price target on shares of Marriott International from $410.00 to $395.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 4th. Erste Group Bank initiated coverage on shares of Marriott International in a research note on Thursday, August 27th. They issued a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Marriott International from $379.00 to $372.00 and set a “hold” rating on the stock in a report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Marriott International has an average rating of “Moderate Buy” and a consensus price target of $383.52.

Insider Activity at Marriott International

In related news, insider David S. Marriott sold 3,500 shares of the business’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $352.09, for a total transaction of $1,232,315.00. Following the sale, the insider owned 282,383 shares in the company, valued at $99,424,230.47. The trade was a 1.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Deborah Harrison sold 3,500 shares of the firm’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $352.09, for a total transaction of $1,232,315.00. Following the transaction, the insider directly owned 282,383 shares of the company’s stock, valued at $99,424,230.47. The trade was a 1.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 11.43% of the stock is currently owned by insiders.

Institutional Trading of Marriott International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC raised its holdings in Marriott International by 35.8% in the third quarter. Chicago Partners Investment Group LLC now owns 1,739 shares of the company’s stock worth $680,000 after buying an additional 458 shares during the last quarter. Ascent Group LLC raised its position in Marriott International by 2.5% during the third quarter. Ascent Group LLC now owns 3,439 shares of the company’s stock worth $1,223,000 after acquiring an additional 84 shares during the period. Compass Financial Management LLC lifted its position in shares of Marriott International by 5.9% in the third quarter. Compass Financial Management LLC now owns 722 shares of the company’s stock valued at $257,000 after acquiring an additional 40 shares in the last quarter. Rakuten Investment Management Inc. grew its holdings in shares of Marriott International by 9.0% during the third quarter. Rakuten Investment Management Inc. now owns 61,243 shares of the company’s stock worth $22,147,000 after buying an additional 5,061 shares in the last quarter. Finally, Markel Group Inc. boosted its holdings in shares of Marriott International by 0.3% during the 3rd quarter. Markel Group Inc. now owns 99,750 shares of the company’s stock worth $35,478,000 after purchasing an additional 250 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors.

Marriott International Price Performance

The company has a market cap of $109.50 billion, a price-to-earnings ratio of 43.65, a price-to-earnings-growth ratio of 3.04 and a beta of 1.15. The stock has a 50 day simple moving average of $360.20 and a two-hundred day simple moving average of $355.73.

About Marriott International

Marriott International, Inc is a global hospitality company that develops, franchises, licenses and manages hotels, resorts, residences and other lodging properties. Its portfolio includes brands such as Marriott Hotels, Sheraton, Westin, W Hotels, The Ritz-Carlton, St. Regis, JW Marriott, Courtyard, Fairfield by Marriott, Residence Inn and Element. The company also operates Marriott Bonvoy, a travel loyalty program that provides members with benefits and rewards across participating properties and travel experiences.

Marriott traces its origins to 1927, when J.