Kentucky Retirement Systems Insurance Trust Fund Sells 820 Shares of Marriott International, Inc. (NASDAQ:MAR)

Kentucky Retirement Systems Insurance Trust Fund cut its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 10.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,918 shares of the company’s stock after selling 820 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Marriott International were worth $1,720,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Bangor Savings Bank lifted its stake in Marriott International by 131.1% in the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock valued at $25,000 after purchasing an additional 59 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in Marriott International in the second quarter valued at approximately $26,000. MFA Wealth Advisors LLC bought a new position in shares of Marriott International during the 2nd quarter worth approximately $28,000. Silvant Capital Management LLC acquired a new position in shares of Marriott International during the 3rd quarter worth approximately $31,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Marriott International during the 2nd quarter valued at $35,000. 70.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. TD Cowen decreased their price objective on shares of Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Mizuho boosted their price objective on Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Robert W. Baird increased their target price on Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Truist Financial reduced their price target on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Marriott International has an average rating of “Hold” and an average price target of $259.00.

Marriott International Trading Down 1.1 %

MAR opened at $278.78 on Friday. The company has a market cap of $77.47 billion, a P/E ratio of 29.16, a PEG ratio of 5.48 and a beta of 1.58. The company’s 50 day moving average is $256.59 and its 200-day moving average is $241.77. Marriott International, Inc. has a 1-year low of $200.94 and a 1-year high of $289.04.

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

Marriott International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International’s payout ratio is 26.36%.

Insider Activity

In related news, EVP Benjamin T. Breland sold 500 shares of the business’s 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 sale, the executive vice president now owns 12,286 shares of the company’s stock, valued at $3,372,384.14. The trade was a 3.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anthony Capuano sold 8,332 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $284.49, for a total value of $2,370,370.68. Following the transaction, the chief executive officer now directly owns 108,361 shares of the company’s stock, valued at approximately $30,827,620.89. This represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,108 shares of company stock valued at $3,434,439 over the last quarter. 12.32% of the stock is owned by company insiders.

Marriott International Company Profile

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.