Marriott International, Inc. (NASDAQ:MAR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,040 shares of the company's stock after selling 7,074 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Marriott International worth $44,553,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC raised its stake in Marriott International by 0.8% during the 4th quarter. FMR LLC now owns 6,973,897 shares of the company's stock worth $1,945,299,000 after buying an additional 56,978 shares during the period. Geode Capital Management LLC boosted its holdings in Marriott International by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 5,026,529 shares of the company's stock worth $1,398,321,000 after buying an additional 60,458 shares during the period. Capital International Investors lifted its holdings in Marriott International by 0.3% during the 4th quarter. Capital International Investors now owns 4,720,306 shares of the company's stock worth $1,316,682,000 after purchasing an additional 15,923 shares in the last quarter. Wellington Management Group LLP lifted its stake in Marriott International by 50.8% in the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock worth $1,300,168,000 after purchasing an additional 1,570,144 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Marriott International by 17.4% in the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock worth $967,662,000 after acquiring an additional 512,963 shares during the last quarter. 70.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MAR. Dbs Bank raised shares of Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Mizuho dropped their price target on Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. initiated coverage on shares of Marriott International in a report on Monday, June 23rd. They issued a "neutral" rating and a $284.00 target price for the company. Morgan Stanley reduced their price objective on Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Truist Financial lowered their price target on Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a report on Friday, May 30th. Thirteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Marriott International presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.90.

Insider Activity at Marriott International

In other news, insider Rajeev Menon sold 2,500 shares of Marriott International stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total transaction of $670,700.00. Following the completion of the transaction, the insider directly owned 5,706 shares in the company, valued at approximately $1,530,805.68. This trade represents a 30.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Benjamin T. Breland sold 1,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the sale, the executive vice president owned 20,724 shares of the company's stock, valued at $5,599,832.04. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock worth $4,107,710 over the last quarter. 10.68% of the stock is owned by corporate insiders.

Marriott International Trading Down 0.2%

Shares of Marriott International stock traded down $0.55 on Wednesday, reaching $277.52. 1,086,288 shares of the company were exchanged, compared to its average volume of 1,592,536. Marriott International, Inc. has a one year low of $204.55 and a one year high of $307.52. The company has a market capitalization of $76.01 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.43 and a beta of 1.41. The company has a 50-day moving average of $259.92 and a 200 day moving average of $262.75.

Marriott International (NASDAQ:MAR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.07. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 earnings per share. Analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 23rd were issued a $0.67 dividend. This is a boost from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.68 annualized dividend and a dividend yield of 0.97%. Marriott International's dividend payout ratio (DPR) is currently 30.52%.

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.