Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in Marriott International, Inc. (NASDAQ:MAR) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,569 shares of the company’s stock after selling 2,354 shares during the period. Retirement Systems of Alabama’s holdings in Marriott International were worth $12,571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MAR. PointState Capital LP acquired a new stake in shares of Marriott International during the third quarter worth $98,249,000. Canoe Financial LP acquired a new stake in shares of Marriott International during the third quarter worth $77,331,000. International Assets Investment Management LLC lifted its stake in shares of Marriott International by 15,148.3% during the third quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock worth $75,208,000 after buying an additional 300,543 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Marriott International by 36,856.7% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company’s stock worth $58,346,000 after buying an additional 240,674 shares during the period. Finally, AXA S.A. raised its holdings in shares of Marriott International by 133.4% during the second quarter. AXA S.A. now owns 221,045 shares of the company’s stock worth $53,442,000 after purchasing an additional 126,323 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Marriott International Stock Down 1.0 %

Shares of NASDAQ MAR opened at $287.08 on Monday. The company’s 50-day simple moving average is $274.76 and its 200-day simple moving average is $248.93. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $295.45. The firm has a market cap of $79.78 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 5.56 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.05). The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.11 EPS. Equities research analysts anticipate that Marriott International, Inc. will post 9.26 EPS for the current fiscal year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a yield of 0.88%. Marriott International’s payout ratio is presently 26.36%.

Insider Buying and Selling

In other news, EVP Benjamin T. Breland sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the sale, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. The trade was a 3.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William P. Brown sold 1,707 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $284.30, for a total transaction of $485,300.10. Following the completion of the sale, the insider now directly owns 23,077 shares in the company, valued at $6,560,791.10. This trade represents a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,815 shares of company stock worth $3,919,739. 12.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MAR shares. Stifel Nicolaus raised their target price on shares of Marriott International from $252.00 to $283.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Evercore ISI raised their target price on shares of Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Robert W. Baird raised their target price on shares of Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Bank of America raised their target price on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Truist Financial raised their target price on shares of Marriott International from $254.00 to $277.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $266.25.

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.