On September 14, 2023, it was announced that EP Wealth Advisors LLC had acquired a new position in Marriott International, Inc. (NASDAQ:MAR) during the first quarter. The firm purchased 14,425 shares of the company’s stock, valued at approximately $5,242,000.
Marriott International recently reported its earnings results for the quarter ending on August 1st. The company surpassed expectations with earnings per share of $2.26, exceeding the consensus estimate of $2.19 by $0.07. Additionally, the company generated revenue of $6.08 billion for the quarter, surpassing analyst estimates of $5.98 billion. This marked a 13.8% increase in revenue compared to the same quarter last year. Furthermore, Marriott International achieved a return on equity of 649.26% and a net margin of 12.15%. In the prior year’s corresponding period, the company posted earnings per share of $1.80.
Various research reports have been published regarding Marriott International’s performance and outlook. Morgan Stanley raised their target price for the stock from $208.00 to $225.00 and gave it an “overweight” rating in their analysis on August 2nd. Similarly, Robert W. Baird increased their target price from $198.00 to $220.00 and labeled the stock as “neutral.” Wells Fargo & Company also raised their target price from $212.00 to $222.00 and assigned an “overweight” rating to Marriott International on August 7th.
Barclays followed suit by increasing their target price from $189.00 to $2080 while maintaining an “equal weight” rating on Wednesday, August 2nd.
Overall, according to data from Bloomberg.com, analysts have provided one sell rating, nine hold ratings, and five buy ratings for Marriott International’s stock as of now. The consensus rating for the company is listed as “Hold,” with an average target price of $209.21.
In conclusion, EP Wealth Advisors LLC’s recent acquisition of Marriott International’s stock, coupled with the company’s strong earnings results and positive research reports, indicate a favorable outlook for the firm. Investors and analysts alike will continue to monitor Marriott International’s performance moving forward, observing any potential impact on its stock price and future prospects in the market.
Recent Investor Movements in Marriott International and Market Performance Analysis
Marriott International, Inc., a leading global hospitality company, has recently seen modifications in its holdings by large investors. Geneos Wealth Management Inc. increased its holdings by 27.7% during the first quarter of this year, acquiring an additional 500 shares valued at $383,000. Similarly, Evermay Wealth Management LLC expanded its holdings by 4.3%, purchasing an additional 141 shares valued at $571,000. AE Wealth Management LLC raised its holdings by 11.5%, adding 4,218 shares worth $6,815,000 to their portfolio.
Pacer Advisors Inc. witnessed a substantial increase of 249.1% in its holdings of Marriott International during the first quarter of this year. They acquired an impressive 28,372 shares valued at $6,602,000 during that period. Shelton Capital Management also saw significant growth in their holdings with a notable increase of 44.5%. They now own 36,091 shares valued at $5,993,000.
It is worth noting that approximately 58.79% of Marriott International’s stock is currently owned by hedge funds and other institutional investors.
As for the stock market performance of Marriott International on September 14th, it opened at $200.23 per share. The company has a debt-to-equity ratio of 73.56 and a current and quick ratio of 0.46 each. Over the last fifty-two weeks, the stock had a low of $135.90 and a high of $210.98.
With regards to averages over specified time periods: the stock’s fifty-day moving average stands at $199.32 while its two-hundred day moving average is reported as being $181.17.
Marriott International holds a market capitalization of around $59.72 billion with a price-to-earnings (P/E) ratio of 22.57 and beta of 1.59. The price-to-earnings growth (PEG) ratio is 1.36, which indicates a possible undervaluation based on future earnings growth prospects.
Various research reports have been conducted on the company. Morgan Stanley increased their target price from $208.00 to $225.00 and rated Marriott International as “overweight”. Similarly, Robert W. Baird raised their target price from $198.00 to $220.00 and gave the stock a “neutral” rating.
Wells Fargo & Company lifted their target price from $212.00 to $222.00 with an “overweight” rating, while Barclays increased their target price from $189.00 to $208.00 and assigned Marriott International an “equal weight” rating in their research report.
The consensus rating for Marriott International from various analysts is currently recorded as “Hold”, with an average target price of $209.21.
Marriott International recently announced a quarterly dividend that will be paid out on September 29th to stockholders of record as of August 17th. The dividend per share is set at $0.52, resulting in an annualized dividend payout of $2.08 and a yield of 1.04%.
Moving into insider news, CAO Felitia Lee sold 800 shares of stock on August 4th at an average price of $205.14, making a total transaction value of $164,112. Following this sale, the chief accounting officer now holds 3,363 shares valued at approximately $689,885.
Additionally, Rajeev Menon, an insider of Marriott International, sold 8,000 shares at an average price of $207.03 on September 11th for a total transaction value of $1,6564740.While the insider now owns 4,000 shares in the company valued at around$828120 said after the sale. The insider transactions were disclosed in filings submitted to the U.S. Securities and Exchange Commission (SEC).
Overall, insiders have sold 103,723 shares of Marriott International’s stock in the last quarter, with a combined value of $21,070,240. Insiders currently hold approximately 12.32% of the company’s stock.
These recent developments shed light on the movements within Marriott International’s investor base and allow investors to gauge the sentiment surrounding its stock. While some investors have significantly enhanced their holdings, research reports offer mixed opinions on the stock’s performance and future prospects.
As always, it is crucial for individual investors to conduct thorough research and consult with financial advisors before making investment decisions based on these factors or any other information available within publicly disclosed sources.