Kentucky Retirement Systems Has $4.73 Million Position in Marriott International, Inc. (NASDAQ:MAR)

Kentucky Retirement Systems lowered its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,735 shares of the company’s stock after selling 1,004 shares during the quarter. Kentucky Retirement Systems’ holdings in Marriott International were worth $4,727,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Marriott International in the 4th quarter valued at $461,525,000. Jennison Associates LLC boosted its holdings in shares of Marriott International by 34.8% in 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. Capital International Investors boosted its holdings in shares of Marriott International by 42.2% in the 4th quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock valued at $709,793,000 after purchasing an additional 934,304 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Marriott International in the 1st quarter valued at $153,697,000. Finally, Public Employees Retirement Association of Colorado boosted its holdings in shares of Marriott International by 557.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 496,505 shares of the company’s stock valued at $111,967,000 after purchasing an additional 420,962 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Marriott International Stock Up 1.2 %

Marriott International stock traded up $2.85 during trading hours on Friday, reaching $236.60. 929,373 shares of the company’s stock were exchanged, compared to its average volume of 1,537,140. The firm’s 50 day simple moving average is $238.90 and its 200 day simple moving average is $241.86. Marriott International, Inc. has a twelve month low of $180.75 and a twelve month high of $260.57. The firm has a market capitalization of $67.58 billion, a PE ratio of 24.42, a PEG ratio of 4.45 and a beta of 1.60.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same quarter in the previous year, the business posted $2.09 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Analysts anticipate that Marriott International, Inc. will post 9.56 EPS for the current year.

Marriott International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 24th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.52 annualized dividend and a dividend yield of 1.07%. This is a boost from Marriott International’s previous quarterly dividend of $0.52. Marriott International’s dividend payout ratio (DPR) is currently 26.01%.

Analyst Ratings Changes

A number of brokerages have weighed in on MAR. Barclays raised their target price on Marriott International from $240.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, July 17th. Robert W. Baird increased their price target on Marriott International from $248.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Mizuho increased their price target on Marriott International from $260.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. BMO Capital Markets increased their price target on Marriott International from $235.00 to $240.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. Finally, Susquehanna began coverage on Marriott International in a research note on Friday, June 21st. They issued a “neutral” rating and a $255.00 price target for the company. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $243.59.

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