Marriott International, Inc. (NASDAQ:MAR) Stake Lessened by New York State Teachers Retirement System

Posted by Defense World Staff on Apr 11th, 2023

New York State Teachers Retirement System reduced its stake in shares of Marriott International, Inc. (NASDAQ:MAR – Get Rating) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,166 shares of the company’s stock after selling 450 shares during the period. New York State Teachers Retirement System owned about 0.09% of Marriott International worth $43,798,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MAR. Castleview Partners LLC lifted its stake in Marriott International by 226.0% during the second quarter. Castleview Partners LLC now owns 163 shares of the company’s stock worth $49,000 after purchasing an additional 113 shares during the last quarter. Vigilant Capital Management LLC lifted its position in shares of Marriott International by 72.2% in the 3rd quarter. Vigilant Capital Management LLC now owns 186 shares of the company’s stock worth $26,000 after buying an additional 78 shares during the last quarter. Old North State Trust LLC bought a new stake in shares of Marriott International during the 3rd quarter valued at about $27,000. TLW Wealth Management LLC acquired a new stake in Marriott International during the fourth quarter worth about $32,000. Finally, New Millennium Group LLC bought a new position in Marriott International in the second quarter worth about $37,000. Institutional investors own 58.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MAR shares. Truist Financial boosted their price target on shares of Marriott International from $185.00 to $205.00 and gave the company a “hold” rating in a report on Thursday, February 16th. Robert W. Baird raised their price target on shares of Marriott International from $183.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, February 27th. Jefferies Financial Group downgraded Marriott International from a “buy” rating to a “hold” rating and set a $166.00 price objective for the company. in a research report on Monday, January 9th. Credit Suisse Group lifted their target price on Marriott International from $185.00 to $205.00 and gave the company a “hold” rating in a research note on Thursday, February 16th. Finally, Barclays increased their price target on Marriott International from $173.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $179.53.

Marriott International Stock Performance

Shares of Marriott International stock opened at $162.79 on Tuesday. The stock has a market cap of $50.16 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 0.70 and a beta of 1.58. Marriott International, Inc. has a 12 month low of $131.01 and a 12 month high of $195.90. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 16.51. The business has a fifty day simple moving average of $168.28 and a 200-day simple moving average of $159.42.

Marriott International (NASDAQ:MAR – Get Rating) last posted its quarterly earnings results on Tuesday, February 14th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. Marriott International had a net margin of 11.35% and a return on equity of 168.43%. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.38 billion. During the same period last year, the company posted $1.30 earnings per share. The firm’s quarterly revenue was up 33.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Marriott International, Inc. will post 7.75 EPS for the current fiscal year.

Marriott International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, February 24th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, February 23rd. This is a positive change from Marriott International’s previous quarterly dividend of $0.30. Marriott International’s dividend payout ratio (DPR) is presently 22.04%.

Insiders Place Their Bets

In other Marriott International news, EVP Benjamin T. Breland sold 625 shares of the stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $163.06, for a total transaction of $101,912.50. Following the transaction, the executive vice president now directly owns 9,079 shares of the company’s stock, valued at $1,480,421.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Marriott International news, EVP Benjamin T. Breland sold 625 shares of the stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $163.06, for a total transaction of $101,912.50. Following the transaction, the executive vice president now owns 9,079 shares in the company, valued at $1,480,421.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William P. Brown sold 2,500 shares of the business’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $170.03, for a total transaction of $425,075.00. Following the completion of the sale, the insider now owns 17,738 shares of the company’s stock, valued at $3,015,992.14. The disclosure for this sale can be found here. Insiders sold 22,711 shares of company stock valued at $3,962,349 over the last ninety days. Corporate insiders own 12.32% of the company’s stock.

Marriott International Profile

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Marriott International, Inc engages in the operation and franchise of hotel, residential, and timeshare properties. It operates through the following geography segments: U.S. & Canada, Asia Pacific, and Europe, Middle East and Africa (EMEA). The company was founded by J. Willard Marriott and Alice Sheets Marriott in 1927 and is headquartered in Bethesda, MD.