Marriott International, Inc. (NASDAQ:MAR) Plans Quarterly Dividend of $0.67

Marriott International, Inc. (NASDAQ:MAR) announced a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Shareholders of record on Friday, May 23rd will be given a dividend of 0.67 per share on Monday, June 30th. This represents a $2.68 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, May 23rd. This is a 6.3% increase from Marriott International’s previous quarterly dividend of $0.63.

Marriott International has a dividend payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Marriott International to earn $11.70 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 21.5%.

Marriott International Trading Up 5.4%

Shares of MAR traded up $13.99 during midday trading on Monday, reaching $271.96. 2,550,991 shares of the stock were exchanged, compared to its average volume of 1,922,928. Marriott International has a 52 week low of $204.55 and a 52 week high of $307.52. The company’s 50 day moving average is $237.89 and its two-hundred day moving average is $266.44. The company has a market capitalization of $74.49 billion, a P/E ratio of 32.69, a PEG ratio of 3.42 and a beta of 1.39.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.07. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.13 EPS. On average, sell-side analysts expect that Marriott International will post 10.1 EPS for the current year.

Insider Activity at Marriott International

In other Marriott International news, Director Susan C. Schwab sold 1,054 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $277.48, for a total transaction of $292,463.92. Following the sale, the director now owns 4,551 shares in the company, valued at $1,262,811.48. This represents a 18.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rena Hozore Reiss sold 3,500 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $286.65, for a total value of $1,003,275.00. Following the sale, the executive vice president now owns 24,733 shares in the company, valued at approximately $7,089,714.45. This trade represents a 12.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,694 shares of company stock worth $8,938,132 in the last three months. 10.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Marriott International stock. Brighton Jones LLC grew its holdings in Marriott International, Inc. (NASDAQ:MAR) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,887 shares of the company’s stock after buying an additional 218 shares during the quarter. Brighton Jones LLC’s holdings in Marriott International were worth $2,479,000 at the end of the most recent quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley decreased their price target on Marriott International from $275.00 to $267.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Barclays reduced their price objective on Marriott International from $283.00 to $236.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group upgraded Marriott International from a “hold” rating to a “buy” rating and lifted their price target for the company from $226.00 to $303.00 in a research report on Monday. Robert W. Baird raised their price objective on Marriott International from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, Evercore ISI raised Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price target on the stock in a research note on Tuesday, February 4th. Thirteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Marriott International currently has an average rating of “Hold” and a consensus price target of $276.60.

About Marriott International

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.