State of Michigan Retirement System Decreases Position in Marriott International, Inc. (NASDAQ:MAR)

State of Michigan Retirement System cut its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 65,736 shares of the company’s stock after selling 1,900 shares during the period. State of Michigan Retirement System’s holdings in Marriott International were worth $15,893,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CWM LLC boosted its stake in Marriott International by 4.5% during the 4th quarter. CWM LLC now owns 6,124 shares of the company’s stock valued at $1,381,000 after acquiring an additional 262 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in Marriott International in the fourth quarter worth about $564,000. Valmark Advisers Inc. raised its stake in Marriott International by 5.2% during the fourth quarter. Valmark Advisers Inc. now owns 2,017 shares of the company’s stock valued at $455,000 after buying an additional 100 shares in the last quarter. Bank OZK grew its position in shares of Marriott International by 2.5% in the 4th quarter. Bank OZK now owns 5,527 shares of the company’s stock worth $1,246,000 after acquiring an additional 133 shares in the last quarter. Finally, Little House Capital LLC raised its position in shares of Marriott International by 52.9% during the 4th quarter. Little House Capital LLC now owns 6,530 shares of the company’s stock valued at $1,473,000 after acquiring an additional 2,259 shares in the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Analyst Upgrades and Downgrades

MAR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their target price on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Morgan Stanley reduced their price target on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Macquarie restated a “neutral” rating and issued a $245.00 price target on shares of Marriott International in a research note on Friday, August 2nd. Truist Financial decreased their price objective on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lifted their target price on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Marriott International currently has a consensus rating of “Hold” and a consensus price target of $242.39.

Marriott International Stock Down 0.2 %

Shares of MAR opened at $224.15 on Tuesday. The stock’s fifty day simple moving average is $233.41 and its 200-day simple moving average is $239.53. The firm has a market capitalization of $64.02 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 4.24 and a beta of 1.60. Marriott International, Inc. has a 12-month low of $180.75 and a 12-month high of $260.57.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The firm had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same period last year, the firm earned $2.26 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts anticipate that Marriott International, Inc. will post 9.29 EPS for the current year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.12%. Marriott International’s payout ratio is 26.01%.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.