Teachers Retirement System of The State of Kentucky Sells 2,893 Shares of Marriott International, Inc. (NASDAQ:MAR)

Teachers Retirement System of The State of Kentucky trimmed its holdings in Marriott International, Inc. (NASDAQ:MAR) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,177 shares of the company’s stock after selling 2,893 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Marriott International were worth $16,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in Marriott International by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after acquiring an additional 192,652 shares during the period. Jennison Associates LLC increased its holdings in shares of Marriott International by 34.8% during the fourth quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock worth $1,025,416,000 after buying an additional 1,173,028 shares in the last quarter. Capital International Investors grew its position in Marriott International by 4.7% during the 1st quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock worth $831,836,000 after acquiring an additional 149,378 shares during the last quarter. Parnassus Investments LLC boosted its stake in Marriott International by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 2,457,382 shares of the company’s stock worth $554,164,000 after purchasing an additional 7,135 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Marriott International in the fourth quarter valued at $461,525,000. Institutional investors own 70.70% of the company’s stock.

Marriott International Price Performance

MAR stock traded down $5.11 during midday trading on Friday, reaching $213.67. 3,679,065 shares of the company were exchanged, compared to its average volume of 1,579,860. The firm has a market capitalization of $60.15 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 4.24 and a beta of 1.60. The business has a 50-day moving average price of $237.97 and a two-hundred day moving average price of $241.79. Marriott International, Inc. has a one year low of $180.75 and a one year high of $260.57.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. The business had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.47 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. Marriott International’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.26 EPS. As a group, analysts anticipate that Marriott International, Inc. will post 9.29 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.18%. Marriott International’s dividend payout ratio is 26.01%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MAR shares. Macquarie reiterated a “neutral” rating and set a $245.00 target price on shares of Marriott International in a research report on Friday. Susquehanna started coverage on shares of Marriott International in a research report on Friday, June 21st. They issued a “neutral” rating and a $255.00 price target on the stock. Barclays lifted their target price on Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price objective on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company cut their price target on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday. Fifteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $241.42.

Marriott International 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.