JPMorgan Chase & Co. Downgrades Marriott International (NASDAQ:MAR) to Neutral
JPMorgan Chase & Co. downgraded shares of Marriott International (NASDAQ:MAR) from an overweight rating to a neutral rating in a research note published on Tuesday, Benzinga reports. The brokerage currently has $138.00 target price on the stock. The analysts noted that the move was a valuation call.
Other analysts also recently issued reports about the company. Wells Fargo & Co upped their price objective on Twitter from $33.00 to $40.00 and gave the company a market perform rating in a research note on Wednesday, April 24th. Citigroup downgraded First Quantum Minerals from a buy rating to a neutral rating and cut their target price for the stock from C$18.00 to C$13.00 in a research note on Tuesday, May 21st. Morgan Stanley set a $111.00 target price on Procter & Gamble and gave the stock a buy rating in a research note on Thursday, March 28th. Finally, BidaskClub downgraded Zynerba Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Wednesday, May 29th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $136.36.
MAR opened at $142.55 on Tuesday. The firm’s 50 day moving average is $133.96. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 6.81. The stock has a market cap of $47.25 billion, a P/E ratio of 22.95, a PEG ratio of 3.11 and a beta of 1.26. Marriott International has a 52 week low of $100.62 and a 52 week high of $142.90.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 24th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Marriott International’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, May 23rd. Marriott International’s dividend payout ratio is 30.92%.
In related news, Director George Munoz sold 3,428 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $125.20, for a total value of $429,185.60. Following the sale, the director now owns 11,620 shares in the company, valued at approximately $1,454,824. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Margaret M. Mccarthy purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average price of $130.83 per share, for a total transaction of $261,660.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at $261,660. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 80,004 shares of company stock valued at $10,676,926. Company insiders own 12.60% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Marriott International by 13.4% during the fourth quarter. Geode Capital Management LLC now owns 3,794,287 shares of the company’s stock worth $411,201,000 after purchasing an additional 448,325 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Marriott International by 1.0% during the first quarter. Northern Trust Corp now owns 3,002,951 shares of the company’s stock worth $375,638,000 after purchasing an additional 29,237 shares during the last quarter. Norges Bank acquired a new stake in shares of Marriott International during the fourth quarter worth $310,004,000. Markel Corp boosted its holdings in shares of Marriott International by 0.4% during the first quarter. Markel Corp now owns 1,538,269 shares of the company’s stock worth $192,422,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Marriott International by 1.3% during the fourth quarter. Legal & General Group Plc now owns 1,223,188 shares of the company’s stock worth $132,789,000 after purchasing an additional 15,958 shares during the last quarter. Hedge funds and other institutional investors own 62.79% of the company’s stock.
Marriott International Company Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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