California Public Employees Retirement System Decreases Position in Marriott International, Inc. (NASDAQ:MAR)

California Public Employees Retirement System lowered its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 6.1% during the fourth quarter, Holdings Channel reports. The fund owned 363,645 shares of the company’s stock after selling 23,642 shares during the period. California Public Employees Retirement System’s holdings in Marriott International were worth $101,435,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. NewEdge Wealth LLC lifted its stake in Marriott International by 34.4% in the fourth quarter. NewEdge Wealth LLC now owns 4,345 shares of the company’s stock worth $1,212,000 after acquiring an additional 1,112 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in Marriott International in the third quarter valued at $2,721,000. Union Bancaire Privee UBP SA purchased a new stake in Marriott International during the 4th quarter worth about $2,990,000. Markel Group Inc. boosted its position in shares of Marriott International by 30.6% during the 4th quarter. Markel Group Inc. now owns 47,000 shares of the company’s stock worth $13,110,000 after acquiring an additional 11,000 shares in the last quarter. Finally, Covea Finance raised its position in shares of Marriott International by 69.9% during the 4th quarter. Covea Finance now owns 60,540 shares of the company’s stock worth $16,887,000 after acquiring an additional 24,900 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Price Performance

MAR opened at $238.20 on Tuesday. The business has a 50 day simple moving average of $271.54 and a 200-day simple moving average of $270.98. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52. The stock has a market capitalization of $65.67 billion, a P/E ratio of 28.63, a P/E/G ratio of 3.42 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, February 11th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. Research analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, February 27th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, February 27th. Marriott International’s dividend payout ratio is currently 30.29%.

Analyst Ratings Changes

Several brokerages have commented on MAR. JPMorgan Chase & Co. increased their price target on shares of Marriott International from $251.00 to $269.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Mizuho raised their price objective on Marriott International from $246.00 to $293.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Morgan Stanley boosted their target price on Marriott International from $289.00 to $298.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. The Goldman Sachs Group lifted their price target on Marriott International from $280.00 to $314.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, UBS Group raised their target price on shares of Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Marriott International currently has a consensus rating of “Hold” and an average target price of $286.05.

Insider Buying and Selling

In related news, insider William P. Brown sold 12,642 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $285.63, for a total value of $3,610,934.46. Following the sale, the insider now owns 30,919 shares of the company’s stock, valued at approximately $8,831,393.97. This represents a 29.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kathleen K. Oberg sold 14,498 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $278.07, for a total value of $4,031,458.86. Following the transaction, the chief financial officer now directly owns 14,282 shares of the company’s stock, valued at $3,971,395.74. The trade was a 50.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,694 shares of company stock valued at $8,938,132. 12.32% of the stock is owned by 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.