Marriott International, Inc. (NASDAQ:MAR) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 454,319 shares of the company’s stock after selling 23,543 shares during the quarter. California Public Employees Retirement System’s holdings in Marriott International were worth $102,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC lifted its stake in Marriott International by 16.1% during the 3rd quarter. FMR LLC now owns 8,634,610 shares of the company’s stock valued at $1,697,219,000 after acquiring an additional 1,194,665 shares during the period. Morgan Stanley increased its holdings in shares of Marriott International by 1.4% during the 3rd quarter. Morgan Stanley now owns 4,711,029 shares of the company’s stock valued at $926,000,000 after purchasing an additional 63,411 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Marriott International by 34.8% during the 4th quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock valued at $1,025,416,000 after purchasing an additional 1,173,028 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Marriott International by 1.8% during the 3rd quarter. Invesco Ltd. now owns 2,734,680 shares of the company’s stock valued at $537,529,000 after purchasing an additional 48,872 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Marriott International by 0.5% during the 3rd quarter. Northern Trust Corp now owns 2,461,649 shares of the company’s stock valued at $483,862,000 after purchasing an additional 12,901 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on MAR shares. Truist Financial boosted their price target on shares of Marriott International from $233.00 to $263.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Mizuho cut their price target on shares of Marriott International from $263.00 to $260.00 and set a “neutral” rating for the company in a report on Tuesday. Argus boosted their price target on shares of Marriott International from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Jefferies Financial Group boosted their price target on shares of Marriott International from $205.00 to $227.00 and gave the stock a “hold” rating in a report on Tuesday, January 2nd. Finally, UBS Group upped their target price on shares of Marriott International from $210.00 to $259.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Marriott International presently has an average rating of “Hold” and an average target price of $236.69.

Marriott International Price Performance

Shares of NASDAQ MAR opened at $239.69 on Wednesday. Marriott International, Inc. has a 1-year low of $162.77 and a 1-year high of $260.57. The stock has a fifty day moving average price of $248.18 and a 200 day moving average price of $226.48. The company has a market cap of $69.26 billion, a PE ratio of 23.52, a P/E/G ratio of 1.73 and a beta of 1.62.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $1.45. Marriott International had a negative return on equity of 848.49% and a net margin of 13.00%. The business had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter last year, the business posted $1.96 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts anticipate that Marriott International, Inc. will post 9.46 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 22nd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, February 21st. Marriott International’s dividend payout ratio is presently 20.41%.

Insider Buying and Selling

In other Marriott International news, CFO Kathleen K. Oberg sold 47,109 shares of Marriott International stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $242.71, for a total value of $11,433,825.39. Following the completion of the sale, the chief financial officer now owns 20,036 shares in the company, valued at approximately $4,862,937.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Satyajit Anand sold 2,749 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $251.93, for a total transaction of $692,555.57. Following the transaction, the insider now directly owns 24,478 shares of the company’s stock, valued at approximately $6,166,742.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen K. Oberg sold 47,109 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $242.71, for a total value of $11,433,825.39. Following the transaction, the chief financial officer now directly owns 20,036 shares in the company, valued at $4,862,937.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,003 shares of company stock worth $30,435,493. 10.07% of the stock is owned by corporate insiders.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.