Marriott International (NASDAQ:MAR) Price Target Raised to $261.00 at Wells Fargo & Company

Marriott International (NASDAQ:MAR) had its price target increased by Wells Fargo & Company from $238.00 to $261.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts have also issued reports on the stock. Bank of America lifted their target price on shares of Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Robert W. Baird set a $258.00 target price on Marriott International in a research note on Thursday, October 17th. Macquarie reiterated a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a report on Friday, August 2nd. BMO Capital Markets boosted their target price on Marriott International from $240.00 to $255.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, The Goldman Sachs Group started coverage on shares of Marriott International in a research report on Wednesday, September 18th. They set a “buy” rating and a $267.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Marriott International presently has an average rating of “Hold” and a consensus target price of $256.39.

Marriott International Price Performance

NASDAQ:MAR opened at $262.12 on Tuesday. The company has a market cap of $74.87 billion, a P/E ratio of 27.05, a P/E/G ratio of 6.36 and a beta of 1.59. Marriott International has a 1 year low of $180.75 and a 1 year high of $266.58. The stock’s fifty day moving average price is $242.52 and its two-hundred day moving average price is $238.81.

Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.49 by $0.01. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The business had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter last year, the company earned $2.26 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, analysts expect that Marriott International will post 9.37 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 16th were issued a dividend of $0.63 per share. The ex-dividend date was Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 0.96%. Marriott International’s dividend payout ratio is presently 26.01%.

Hedge Funds Weigh In On Marriott International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rockland Trust Co. raised its holdings in Marriott International by 2.3% in the 2nd quarter. Rockland Trust Co. now owns 1,802 shares of the company’s stock worth $436,000 after purchasing an additional 41 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in Marriott International by 1.2% in the first quarter. Kathmere Capital Management LLC now owns 3,599 shares of the company’s stock worth $908,000 after buying an additional 42 shares during the period. Park Avenue Securities LLC boosted its position in Marriott International by 1.4% during the 2nd quarter. Park Avenue Securities LLC now owns 3,298 shares of the company’s stock valued at $797,000 after acquiring an additional 46 shares in the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of Marriott International by 1.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,075 shares of the company’s stock worth $743,000 after acquiring an additional 46 shares during the period. Finally, Quent Capital LLC lifted its stake in shares of Marriott International by 7.9% in the 1st quarter. Quent Capital LLC now owns 644 shares of the company’s stock valued at $162,000 after purchasing an additional 47 shares during the period. Institutional investors own 70.70% of the company’s stock.

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.