New York State Common Retirement Fund Lowers Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

New York State Common Retirement Fund trimmed its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 11.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 248,706 shares of the company's stock after selling 30,946 shares during the period. New York State Common Retirement Fund owned approximately 0.09% of Marriott International worth $59,242,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Bernard Wealth Management Corp. purchased a new position in Marriott International in the 4th quarter worth approximately $25,000. Kapitalo Investimentos Ltda purchased a new position in Marriott International in the 4th quarter worth approximately $34,000. Sound Income Strategies LLC raised its holdings in Marriott International by 46.7% in the 1st quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock worth $37,000 after acquiring an additional 50 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in Marriott International in the 4th quarter worth approximately $38,000. Finally, Navigoe LLC purchased a new position in Marriott International in the 4th quarter worth approximately $44,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Marriott International Stock Performance

Shares of Marriott International stock opened at $281.65 on Monday. The company has a market capitalization of $77.14 billion, a P/E ratio of 32.08, a P/E/G ratio of 3.47 and a beta of 1.41. The company has a fifty day moving average of $266.48 and a 200 day moving average of $262.32. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.07. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. Marriott International's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.13 EPS. Analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 23rd were paid a $0.67 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.68 annualized dividend and a yield of 0.95%. This is a boost from Marriott International's previous quarterly dividend of $0.63. Marriott International's payout ratio is presently 30.52%.

Analysts Set New Price Targets

MAR has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Marriott International in a research note on Monday, June 23rd. They set a "neutral" rating and a $284.00 target price for the company. Truist Financial decreased their target price on shares of Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a research note on Friday, May 30th. The Goldman Sachs Group reiterated a "neutral" rating and set a $245.00 target price (down from $313.00) on shares of Marriott International in a research note on Monday, April 14th. Melius Research upgraded shares of Marriott International to a "strong-buy" rating in a research note on Monday, April 21st. Finally, Morgan Stanley decreased their target price on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Thirteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $275.90.

Insiders Place Their Bets

In other news, CEO Anthony Capuano sold 12,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the sale, the chief executive officer directly owned 124,067 shares in the company, valued at approximately $32,741,281.30. This represents a 8.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rajeev Menon sold 2,500 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total transaction of $670,700.00. Following the sale, the insider owned 5,706 shares in the company, valued at $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock worth $4,107,710 in the last 90 days. 10.68% of the stock is currently owned by corporate insiders.

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.

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