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 report published on Tuesday morning, Benzinga reports. They currently have $138.00 target price on the stock. The analysts noted that the move was a valuation call.
A number of other brokerages also recently commented on MAR. Morgan Stanley set a $111.00 price objective on Procter & Gamble and gave the stock a buy rating in a research report on Thursday, March 28th. Wells Fargo & Co lifted their price objective on Twitter from $33.00 to $40.00 and gave the stock a market perform rating in a research report on Wednesday, April 24th. BidaskClub downgraded Zynerba Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Wednesday, May 29th. Finally, Citigroup downgraded First Quantum Minerals from a buy rating to a neutral rating and reduced their price objective for the stock from C$18.00 to C$13.00 in a research report on Tuesday, May 21st. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Marriott International presently has an average rating of Hold and an average price target of $136.36.
Shares of Marriott International stock opened at $142.55 on Tuesday. Marriott International has a one year low of $100.62 and a one year high of $142.90. The stock has a market capitalization of $47.25 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 3.11 and a beta of 1.26. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.47 and a current ratio of 0.47. The stock’s 50 day moving average is $133.96.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 24th were given a $0.48 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.92 dividend on an annualized basis and a yield of 1.35%. This is an increase from Marriott International’s previous quarterly dividend of $0.41. Marriott International’s payout ratio is currently 30.92%.
In other Marriott International news, insider Argiris Kyriakidis sold 7,964 shares of Marriott International stock in a transaction on Friday, June 28th. The stock was sold at an average price of $139.78, for a total value of $1,113,207.92. Following the sale, the insider now owns 72,837 shares in the company, valued at $10,181,155.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Grissen sold 13,686 shares of Marriott International stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $136.85, for a total value of $1,872,929.10. Following the completion of the sale, the insider now owns 70,416 shares in the company, valued at approximately $9,636,429.60. The disclosure for this sale can be found here. Insiders sold 80,004 shares of company stock worth $10,676,926 in the last 90 days. Company insiders own 12.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Strategy Asset Managers LLC purchased a new stake in shares of Marriott International in the 1st quarter valued at $29,000. Harvest Group Wealth Management LLC acquired a new position in Marriott International during the 1st quarter worth $30,000. Alpha Omega Wealth Management LLC acquired a new position in Marriott International during the 1st quarter worth $32,000. Bessemer Group Inc. grew its stake in Marriott International by 532.8% during the 4th quarter. Bessemer Group Inc. now owns 386 shares of the company’s stock worth $42,000 after purchasing an additional 325 shares in the last quarter. Finally, Resources Investment Advisors Inc. grew its stake in Marriott International by 38.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 363 shares of the company’s stock worth $45,000 after purchasing an additional 100 shares in 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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