Retirement Systems of Alabama Has $12.57 Million Holdings in Marriott International, Inc. (NASDAQ:MAR)

Retirement Systems of Alabama lessened its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 4.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,569 shares of the company's stock after selling 2,354 shares during the quarter. Retirement Systems of Alabama's holdings in Marriott International were worth $12,571,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MAR. Oddo BHF Asset Management Sas acquired a new position in shares of Marriott International during the third quarter worth about $2,721,000. Tidal Investments LLC lifted its position in Marriott International by 86.8% during the 3rd quarter. Tidal Investments LLC now owns 16,375 shares of the company's stock worth $4,071,000 after acquiring an additional 7,607 shares in the last quarter. Optimist Retirement Group LLC boosted its holdings in Marriott International by 7.7% in the 3rd quarter. Optimist Retirement Group LLC now owns 894 shares of the company's stock worth $222,000 after acquiring an additional 64 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Marriott International in the third quarter valued at approximately $1,260,000. Finally, Sanctuary Advisors LLC lifted its position in shares of Marriott International by 5.8% during the third quarter. Sanctuary Advisors LLC now owns 36,251 shares of the company's stock worth $9,012,000 after purchasing an additional 1,974 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company's stock.

Marriott International Price Performance

NASDAQ:MAR traded up $3.32 during midday trading on Monday, reaching $290.40. 976,770 shares of the company traded hands, compared to its average volume of 1,444,620. The firm has a market capitalization of $80.70 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 5.56 and a beta of 1.58. The company has a fifty day moving average price of $274.76 and a 200 day moving average price of $248.93. Marriott International, Inc. has a twelve month low of $204.55 and a twelve month high of $295.45.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.05). The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The firm's revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.11 EPS. On average, equities research analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Thursday, November 21st. Marriott International's dividend payout ratio (DPR) is 26.36%.

Insider Activity at Marriott International

In other news, insider William P. Brown sold 1,707 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $284.30, for a total value of $485,300.10. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Benjamin T. Breland sold 500 shares of Marriott International stock in a transaction 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 owns 12,286 shares in the company, valued at approximately $3,372,384.14. This trade represents a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,815 shares of company stock worth $3,919,739 in the last three months. 12.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MAR shares. Robert W. Baird lifted their price target on shares of Marriott International from $258.00 to $264.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. BMO Capital Markets lifted their target price on Marriott International from $255.00 to $265.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 5th. The Goldman Sachs Group increased their price target on Marriott International from $280.00 to $314.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Bank of America upped their target price on Marriott International from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Finally, Sanford C. Bernstein raised their price target on shares of Marriott International from $262.00 to $290.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.