Marriott International, Inc. Declares Quarterly Dividend of $0.63 (NASDAQ:MAR)

Marriott International, Inc. (NASDAQ:MAR) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Shareholders of record on Thursday, November 21st will be paid a dividend of 0.63 per share on Tuesday, December 31st. This represents a $2.52 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 21st.

Marriott International has raised its dividend by an average of 59.8% annually over the last three years. Marriott International has a payout ratio of 23.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Marriott International to earn $10.63 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 23.7%.

Marriott International Stock Performance

Shares of NASDAQ MAR opened at $279.27 on Wednesday. The stock has a market capitalization of $77.61 billion, a P/E ratio of 29.21, a PEG ratio of 5.48 and a beta of 1.58. The stock’s fifty day moving average is $258.72 and its 200 day moving average is $242.46. Marriott International has a 52 week low of $200.94 and a 52 week high of $289.04.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.05). The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. Marriott International’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.11 earnings per share. Equities research analysts forecast that Marriott International will post 9.26 earnings per share for the current year.

Insider Buying and Selling at Marriott International

In other Marriott International news, CAO Felitia Lee sold 916 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $276.48, for a total value of $253,255.68. Following the transaction, the chief accounting officer now owns 5,609 shares in the company, valued at approximately $1,550,776.32. This represents a 14.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Benjamin T. Breland sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the sale, the executive vice president now owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. This represents a 3.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,108 shares of company stock valued at $3,434,439. 10.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Macquarie reiterated a “neutral” rating and issued a $245.00 price target on shares of Marriott International in a research note on Tuesday, November 5th. Bank of America lifted their price target on Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 21st. The Goldman Sachs Group started coverage on Marriott International in a research note on Wednesday, September 18th. They issued a “buy” rating and a $267.00 price objective for the company. Evercore ISI lifted their price target on shares of Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Finally, Sanford C. Bernstein increased their price objective on Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $259.00.

Marriott International Company Profile

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.