Marriott International, Inc. (NASDAQ:MAR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in Marriott International, Inc. (NASDAQ:MAR) by 38.2% during the second quarter, HoldingsChannel reports. The fund owned 88,635 shares of the company’s stock after selling 54,712 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Marriott International were worth $21,429,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Roble Belko & Company Inc raised its position in Marriott International by 845.5% in the first quarter. Roble Belko & Company Inc now owns 104 shares of the company’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Bangor Savings Bank raised its position in Marriott International by 131.1% in the second 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 period. Hantz Financial Services Inc. purchased a new stake in Marriott International in the second quarter valued at approximately $26,000. Benjamin Edwards Inc. purchased a new stake in Marriott International in the first quarter valued at approximately $29,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Marriott International in the second quarter valued at approximately $28,000. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MAR shares. Sanford C. Bernstein raised Marriott International from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $247.00 to $262.00 in a research report on Thursday, August 29th. Wells Fargo & Company cut their price objective on Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Morgan Stanley cut their price objective on Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their target price on Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Finally, Macquarie reissued a “neutral” rating and issued a $245.00 target price on shares of Marriott International in a report on Friday, August 2nd. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $246.18.

Marriott International Price Performance

NASDAQ MAR opened at $230.70 on Friday. Marriott International, Inc. has a 1 year low of $180.75 and a 1 year high of $260.57. The company has a market capitalization of $65.89 billion, a PE ratio of 23.81, a P/E/G ratio of 5.35 and a beta of 1.59. The company has a fifty day moving average of $230.12 and a two-hundred day moving average of $238.35.

Marriott International (NASDAQ:MAR) last announced its earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the prior year, the firm earned $2.26 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts expect that Marriott International, Inc. will post 9.37 earnings per share for the current year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 1.09%. Marriott International’s dividend payout ratio (DPR) 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, City Express by Marriott, and St.