JPMorgan Chase & Co. Begins Coverage on Marriott International (NASDAQ:MAR)

JPMorgan Chase & Co. initiated coverage on shares of Marriott International (NASDAQ:MARGet Free Report) in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $284.00 price target on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 5.68% from the company’s current price.

MAR has been the subject of several other reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $245.00 price objective (down from $313.00) on shares of Marriott International in a report on Monday, April 14th. Stifel Nicolaus reduced their price objective on Marriott International from $295.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, April 16th. Morgan Stanley reduced their price objective on Marriott International from $275.00 to $267.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Robert W. Baird lifted their price objective on Marriott International from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Finally, Barclays reduced their price objective on Marriott International from $283.00 to $236.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Thirteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Marriott International currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.90.

View Our Latest Research Report on MAR

Marriott International Price Performance

MAR opened at $268.73 on Monday. The business has a 50 day simple moving average of $254.63 and a 200-day simple moving average of $263.33. The stock has a market capitalization of $73.61 billion, a P/E ratio of 30.61, a P/E/G ratio of 3.26 and a beta of 1.42. Marriott International has a 12 month low of $204.55 and a 12 month high of $307.52.

Marriott International (NASDAQ:MARGet Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.25 by $0.07. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $2.13 EPS. Research analysts anticipate that Marriott International will post 10.1 EPS for the current year.

Insiders Place Their Bets

In other Marriott International news, EVP Benjamin T. Breland sold 1,000 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $270.21, for a total transaction of $270,210.00. Following the transaction, the executive vice president now owns 20,724 shares in the company, valued at $5,599,832.04. The trade was a 4.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anthony Capuano sold 12,000 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $263.90, for a total value of $3,166,800.00. Following the transaction, the chief executive officer now owns 124,067 shares in the company, valued at approximately $32,741,281.30. This represents a 8.82% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB lifted its stake in shares of Marriott International by 1.3% during the first quarter. Swedbank AB now owns 68,429 shares of the company’s stock worth $16,300,000 after purchasing an additional 881 shares in the last quarter. Harold Davidson & Associates Inc. lifted its stake in shares of Marriott International by 0.4% during the first quarter. Harold Davidson & Associates Inc. now owns 11,186 shares of the company’s stock worth $2,665,000 after purchasing an additional 49 shares in the last quarter. Modern Wealth Management LLC lifted its stake in shares of Marriott International by 107.6% during the first quarter. Modern Wealth Management LLC now owns 1,646 shares of the company’s stock worth $392,000 after purchasing an additional 853 shares in the last quarter. Strs Ohio acquired a new position in shares of Marriott International in the first quarter worth about $18,020,000. Finally, Jacobi Capital Management LLC lifted its stake in shares of Marriott International by 1.2% in the first quarter. Jacobi Capital Management LLC now owns 3,798 shares of the company’s stock worth $905,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Company Profile

(Get Free Report)

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.

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