Kentucky Retirement Systems Has $4.05 Million Holdings in Marriott International, Inc. (NASDAQ:MAR)

Kentucky Retirement Systems lowered its holdings in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,278 shares of the company's stock after selling 1,802 shares during the period. Kentucky Retirement Systems' holdings in Marriott International were worth $4,047,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BDF Gestion acquired a new stake in Marriott International in the second quarter valued at approximately $3,013,000. Jensen Investment Management Inc. acquired a new stake in Marriott International during the 3rd quarter valued at $793,000. CWM LLC increased its stake in Marriott International by 518.7% during the 2nd quarter. CWM LLC now owns 47,519 shares of the company's stock worth $11,489,000 after buying an additional 39,839 shares during the period. BayBridge Capital Group LLC purchased a new position in Marriott International in the 3rd quarter valued at about $1,254,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Marriott International by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company's stock valued at $140,844,000 after acquiring an additional 2,723 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company's stock.

Wall Street Analyst Weigh In

MAR has been the subject of a number of analyst reports. Truist Financial reduced their price target on Marriott International from $263.00 to $254.00 and set a "hold" rating for the company in a report on Tuesday, August 6th. Bank of America raised their price target on shares of Marriott International from $275.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. BMO Capital Markets upped their price target on shares of Marriott International from $255.00 to $265.00 and gave the company a "market perform" rating in a report on Tuesday, November 5th. The Goldman Sachs Group began coverage on shares of Marriott International in a report on Wednesday, September 18th. They set a "buy" rating and a $267.00 price objective for the company. Finally, Barclays increased their price target on shares of Marriott International from $240.00 to $249.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $259.00.

Marriott International Price Performance

Shares of MAR stock traded down $3.24 during trading hours on Friday, reaching $278.78. The stock had a trading volume of 1,751,074 shares, compared to its average volume of 1,379,158. The firm has a 50-day simple moving average of $256.59 and a 200-day simple moving average of $241.82. The firm has a market capitalization of $77.47 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 5.48 and a beta of 1.58. Marriott International, Inc. has a twelve month low of $200.94 and a twelve month high of $289.04.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its quarterly earnings data 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). Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the prior year, the firm posted $2.11 earnings per share. The business's quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that Marriott International, Inc. will post 9.26 earnings per share for the current year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, November 21st. Marriott International's dividend payout ratio is currently 26.36%.

Insider Buying and Selling

In other Marriott International news, CAO Felitia Lee sold 916 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $276.48, for a total value of $253,255.68. Following the sale, the chief accounting officer now directly owns 5,609 shares in the company, valued at approximately $1,550,776.32. The trade was a 14.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony Capuano sold 8,332 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the transaction, the chief executive officer now owns 108,361 shares of the company's stock, valued at approximately $30,827,620.89. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,108 shares of company stock valued at $3,434,439 over the last 90 days. 12.32% of the stock is currently owned by company 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.