Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 3.5% in the 2nd quarter, Holdings Channel reports. The firm owned 18,080 shares of the company’s stock after selling 655 shares during the quarter. Kentucky Retirement Systems’ holdings in Marriott International were worth $4,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MAR. Seven Eight Capital LP bought a new stake in Marriott International in the 2nd quarter valued at about $2,063,000. Blair William & Co. IL raised its holdings in shares of Marriott International by 30.2% during the second quarter. Blair William & Co. IL now owns 34,756 shares of the company’s stock valued at $8,403,000 after buying an additional 8,066 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Marriott International by 3.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 23,405 shares of the company’s stock worth $5,165,000 after buying an additional 845 shares during the period. Mercer Global Advisors Inc. ADV increased its position in Marriott International by 8.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 36,252 shares of the company’s stock valued at $8,765,000 after acquiring an additional 2,711 shares during the period. Finally, Lingotto Investment Management LLP boosted its position in Marriott International by 9.6% during the 2nd quarter. Lingotto Investment Management LLP now owns 28,713 shares of the company’s stock worth $6,942,000 after acquiring an additional 2,515 shares during the period. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MAR shares. Truist Financial cut their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. UBS Group reduced their price target on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Barclays raised their price objective on shares of Marriott International from $240.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group assumed coverage on Marriott International in a research report on Wednesday. They issued a “buy” rating and a $267.00 target price for the company. Finally, Morgan Stanley dropped their price objective on Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Thirteen investment 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 stock currently has a consensus rating of “Hold” and an average target price of $247.33.

Marriott International Price Performance

MAR stock opened at $244.46 on Friday. The company’s 50 day simple moving average is $229.76 and its 200-day simple moving average is $237.90. Marriott International, Inc. has a 52-week low of $180.75 and a 52-week high of $260.57. The firm has a market capitalization of $69.82 billion, a P/E ratio of 25.23, a P/E/G ratio of 5.34 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last released its earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.01. The company had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.26 EPS. Sell-side analysts predict that Marriott International, Inc. will post 9.37 EPS for the current fiscal year.

Marriott International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, August 16th. Marriott International’s dividend payout ratio (DPR) is presently 26.01%.

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.