Marriott International, Inc. (NASDAQ:MAR) Declares Dividend Increase – $0.67 Per Share

Marriott International, Inc. (NASDAQ:MAR) announced a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Stockholders of record on Friday, May 23rd will be paid a dividend of 0.67 per share on Monday, June 30th. This represents a $2.68 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Friday, May 23rd. This is a 6.3% increase from Marriott International’s previous quarterly dividend of $0.63.

Marriott International has a payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Marriott International to earn $11.70 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 21.5%.

Marriott International Trading Up 0.3%

Shares of NASDAQ MAR traded up $0.89 during trading hours on Tuesday, reaching $272.85. The stock had a trading volume of 76,543 shares, compared to its average volume of 1,600,094. The firm has a market cap of $74.73 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 3.42 and a beta of 1.39. The business’s fifty day moving average price is $237.91 and its two-hundred day moving average price is $266.51. Marriott International has a 52-week low of $204.55 and a 52-week high of $307.52.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.07. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the previous year, the business earned $2.13 earnings per share. Marriott International’s quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts anticipate that Marriott International will post 10.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Marriott International

In related news, EVP Rena Hozore Reiss sold 3,500 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $286.65, for a total value of $1,003,275.00. Following the completion of the transaction, the executive vice president now directly owns 24,733 shares of the company’s stock, valued at approximately $7,089,714.45. This trade represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 1,054 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $277.48, for a total transaction of $292,463.92. Following the completion of the transaction, the director now directly owns 4,551 shares of the company’s stock, valued at $1,262,811.48. This represents a 18.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,694 shares of company stock worth $8,938,132. Company insiders own 10.68% of the company’s stock.

Institutional Investors Weigh In On Marriott International

An institutional investor recently raised its position in Marriott International stock. Brighton Jones LLC raised its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,887 shares of the company’s stock after purchasing an additional 218 shares during the period. Brighton Jones LLC’s holdings in Marriott International were worth $2,479,000 at the end of the most recent reporting period. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MAR. Robert W. Baird raised their price target on shares of Marriott International from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Stifel Nicolaus decreased their price target on shares of Marriott International from $295.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, April 16th. Morgan Stanley decreased their price objective on shares of Marriott International from $275.00 to $267.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. UBS Group lifted their price objective on shares of Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Susquehanna lifted their price objective on shares of Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Thirteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $276.60.

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.