Marriott International (MAR) Shares Sold by California State Teachers Retirement System
California State Teachers Retirement System decreased its holdings in shares of Marriott International (NASDAQ:MAR) by 10.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 581,058 shares of the company’s stock after selling 64,773 shares during the period. California State Teachers Retirement System owned 0.16% of Marriott International worth $58,286,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of Marriott International by 63.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 45,890 shares of the company’s stock valued at $4,603,000 after purchasing an additional 17,885 shares in the last quarter. Private Advisory Group LLC boosted its position in shares of Marriott International by 53.7% during the 2nd quarter. Private Advisory Group LLC now owns 21,932 shares of the company’s stock valued at $2,200,000 after purchasing an additional 7,667 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Marriott International in the second quarter worth approximately $341,000. Caxton Associates LP boosted its holdings in Marriott International by 866.7% in the second quarter. Caxton Associates LP now owns 72,500 shares of the company’s stock worth $7,272,000 after acquiring an additional 65,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Marriott International by 496.8% in the second quarter. Cubist Systematic Strategies LLC now owns 32,656 shares of the company’s stock worth $3,276,000 after acquiring an additional 27,184 shares in the last quarter. Institutional investors own 65.88% of the company’s stock.
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In other Marriott International news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $99.84, for a total transaction of $2,995,200.00. Following the completion of the sale, the insider now directly owns 493,896 shares in the company, valued at approximately $49,310,576.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Juliana B. Marriott sold 8,400 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $100.51, for a total transaction of $844,284.00. Following the sale, the insider now owns 18,000 shares of the company’s stock, valued at $1,809,180. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,727 shares of company stock valued at $11,339,600. Company insiders own 11.32% of the company’s stock.
Shares of Marriott International (NASDAQ:MAR) traded down 0.06% during mid-day trading on Wednesday, hitting $114.01. The company had a trading volume of 251,336 shares. Marriott International has a 52 week low of $65.91 and a 52 week high of $114.41. The firm has a 50-day moving average price of $106.08 and a 200-day moving average price of $101.80. The firm has a market capitalization of $42.46 billion, a PE ratio of 39.86 and a beta of 1.36.
Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Monday, August 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.11. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The firm’s quarterly revenue was up 48.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. Equities analysts forecast that Marriott International will post $4.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, August 24th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 22nd. This represents a $1.32 dividend on an annualized basis and a yield of 1.16%. Marriott International’s dividend payout ratio is presently 45.52%.
Several research analysts have issued reports on MAR shares. Berenberg Bank reiterated a “buy” rating and issued a $125.00 price target on shares of Marriott International in a report on Friday, August 18th. BidaskClub lowered Marriott International from a “strong-buy” rating to a “buy” rating in a report on Monday, August 14th. Zacks Investment Research upgraded Marriott International from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Robert W. Baird reiterated a “hold” rating and issued a $103.00 price target on shares of Marriott International in a report on Sunday, September 17th. Finally, Stifel Nicolaus increased their price target on Marriott International from $95.00 to $98.00 and gave the stock a “hold” rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. Marriott International currently has an average rating of “Hold” and a consensus price target of $99.68.
Marriott International Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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