Kentucky Retirement Systems Decreases Stake in Marriott International, Inc. (NASDAQ:MAR)

Kentucky Retirement Systems trimmed its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,278 shares of the company’s stock after selling 1,802 shares during the quarter. Kentucky Retirement Systems’ holdings in Marriott International were worth $4,047,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bangor Savings Bank boosted its stake in Marriott International by 131.1% during the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock valued at $25,000 after acquiring an additional 59 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Marriott International in the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC acquired a new position in Marriott International in the second quarter worth about $28,000. Silvant Capital Management LLC acquired a new stake in Marriott International during the third quarter valued at approximately $31,000. Finally, Unique Wealth Strategies LLC bought a new position in Marriott International during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Insider Activity

In other news, EVP Benjamin T. Breland sold 500 shares of Marriott International 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 transaction, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kathleen K. Oberg sold 2,360 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $285.41, for a total transaction of $673,567.60. Following the completion of the sale, the chief financial officer now owns 39,726 shares of the company’s stock, valued at approximately $11,338,197.66. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,108 shares of company stock worth $3,434,439. Insiders own 12.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MAR shares. Sanford C. Bernstein upped their price target on Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Mizuho raised their price target on shares of Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Truist Financial lowered their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. 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. Finally, The Goldman Sachs Group began coverage on Marriott International in a report on Wednesday, September 18th. They set a “buy” rating and a $267.00 target price for the company. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Marriott International has an average rating of “Hold” and a consensus target price of $259.00.

Marriott International Price Performance

MAR opened at $278.78 on Friday. Marriott International, Inc. has a 1-year low of $200.94 and a 1-year high of $289.04. The business has a 50 day moving average price of $256.59 and a two-hundred day moving average price of $241.77. The company has a market capitalization of $77.47 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 5.63 and a beta of 1.58.

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

Marriott International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 annualized dividend and a yield of 0.90%. Marriott International’s dividend payout ratio (DPR) is 26.36%.

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, City Express by Marriott, and St.