Massachusetts Financial Services recently announced the acquisition of new stake in Marriott International Inc. (NASDAQ:MAR). The institutional investor has increased its shareholding in the Consumer Cyclical company by 2.78% to 7.63 million shares with purchase of 0.21 million shares. This fresh investment now brings its stake to 2.48% valued currently at $1.29 billion. In addition, Fidelity Management & Research Co raised its holdings by 97768.0 to 6.6 million shares.
With over 1.72 million Marriott International Inc. (MAR) shares trading Monday and a closing price of $174.68 on the day, the dollar volume was approximately $299.61 million. The shares have shown a positive half year performance of 9.20% and its price on 05/22/23 lost nearly -2.10%. Currently, there are 309.60M common shares owned by the public and among those 256.28M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 23 analysts who have offered their price forecasts for MAR have a consensus price objective of $188.22. The analysts have set the share’s price value over the next 12 months at a high of $213.00 and a low of $168.00. The average price target is 7.2% above its recent price level and a downside to the estimated low will see the stock lose -3.98% over that period. But an upside of 17.99% will see the stock hit the forecast high price target while median target price for the stock is $187.00.
Insiders at the company have transacted a total of 55 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 58,549 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 323,090 shares.
The top 3 mutual fund holders in Marriott International Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and MFS Value Fund. Vanguard Total Stock Market ETF owns 8.58 million shares of the company’s stock, all valued at over $1.45 billion. The company sold -0.18 million shares recently to bring their total holdings to about 2.79% of the shares outstanding. Vanguard 500 Index Fund bought 30740.0 shares to see its total holdings expand to 6.28 million shares valued at over $1.06 billion and representing 2.04% of the shares outstanding. MFS Value Fund bought 0.29 million shares to bring its total holdings to over 4.29 million shares at a value of $726.15 million. MFS Value Fund now owns shares totaling to 1.39% of the shares outstanding.
Shares of Marriott International Inc. (NASDAQ: MAR) opened at $178.41, down -$0.02 from a prior closing price of $178.43. However, the script later moved the day high at 178.56, down -2.10%. The company’s stock has a 5-day price change of -0.47% and 2.34% over the past three months. MAR shares are trading 17.32% year to date (YTD), with the 12-month market performance up to 11.30% higher. It has a 12-month low price of $131.01 and touched a high of $183.27 over the same period. MAR has an average intraday trading volume of 1.74 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.04%, 3.73%, and 8.36% respectively.
Institutional ownership of Marriott International Inc. (NASDAQ: MAR) shares accounts for 61.70% of the company’s 309.60M shares outstanding. Mutual fund holders own 26.29%, while other institutional holders and individual stakeholders account for 34.26% and 18.55% respectively.
It has a market capitalization of $54.01B and a beta (3y monthly) value of 1.57. The stock’s trailing 12-month PE ratio is 20.45, while the earnings-per-share (ttm) stands at $8.54. The company has a PEG of 1.29 and a Quick Ratio of 0.50 with the debt-to-equity ratio at 76.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.23% over the week and 2.39% over the month.
Analysts forecast that Marriott International Inc. (MAR) will achieve an EPS of $2.17 for the current quarter, $2.03 for the next quarter and $9.11 for 2024. The lowest estimate earnings-per-share for the quarter is $2.1 while analysts give the company a high EPS estimate of $2.45. Comparatively, EPS for the current quarter was $1.8 a year ago. Earnings per share for the fiscal year are expected to increase by 116.90%, and 8.97% over the next financial year. EPS should grow at an annualized rate of 15.90% over the next five years, compared to 6.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 23 brokerage firm advisors rate Marriott International Inc. (MAR) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 15 of the 23 advise that investors “hold,” and 1 rated it as a “Sell.”
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