Public Employees Retirement System of Ohio Lowers Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Public Employees Retirement System of Ohio reduced its stake in Marriott International, Inc. (NASDAQ:MAR) by 8.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,859 shares of the company’s stock after selling 10,378 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Marriott International were worth $28,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of MAR. JPMorgan Chase & Co. grew its position in Marriott International by 1.8% during the first quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock valued at $2,678,750,000 after acquiring an additional 192,652 shares during the last quarter. Jennison Associates LLC grew its position in Marriott International by 34.8% during the fourth quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock valued at $1,025,416,000 after acquiring an additional 1,173,028 shares during the last quarter. Capital International Investors grew its position in Marriott International by 4.7% during the first quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after acquiring an additional 149,378 shares during the last quarter. Parnassus Investments LLC grew its position in Marriott International by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 2,457,382 shares of the company’s stock valued at $554,164,000 after acquiring an additional 7,135 shares during the last quarter. Finally, Norges Bank bought a new position in Marriott International during the fourth quarter valued at approximately $461,525,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Trading Up 1.1 %

Marriott International stock traded up $2.54 on Monday, hitting $239.14. 531,268 shares of the stock traded hands, compared to its average volume of 1,438,007. The firm has a market cap of $68.30 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 4.45 and a beta of 1.60. The business’s fifty day simple moving average is $238.90 and its 200 day simple moving average is $241.97. Marriott International, Inc. has a 1 year low of $180.75 and a 1 year high of $260.57.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. Marriott International’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 EPS. As a group, analysts predict that Marriott International, Inc. will post 9.56 earnings per share for the current year.

Marriott International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 24th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, May 23rd. This is a positive change from Marriott International’s previous quarterly dividend of $0.52. Marriott International’s payout ratio is currently 26.01%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of Marriott International from $250.00 to $248.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. BMO Capital Markets raised their target price on shares of Marriott International from $235.00 to $240.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. Susquehanna started coverage on shares of Marriott International in a report on Friday, June 21st. They issued a “neutral” rating and a $255.00 target price on the stock. Barclays raised their target price on shares of Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 17th. Finally, Mizuho raised their target price on shares of Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Thirteen 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 presently has an average rating of “Hold” and a consensus price target of $243.59.

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