Teacher Retirement System of Texas Buys 5,788 Shares of Marriott International, Inc. (NASDAQ:MAR)

Teacher Retirement System of Texas lifted its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 62.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,098 shares of the company’s stock after purchasing an additional 5,788 shares during the period. Teacher Retirement System of Texas’ holdings in Marriott International were worth $4,211,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new position in Marriott International in the 4th quarter valued at $165,162,000. PointState Capital LP acquired a new stake in Marriott International in the third quarter worth about $98,249,000. Proficio Capital Partners LLC raised its holdings in Marriott International by 36,564.5% during the 4th quarter. Proficio Capital Partners LLC now owns 360,779 shares of the company’s stock worth $100,636,000 after purchasing an additional 359,795 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Marriott International by 341.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 381,226 shares of the company’s stock valued at $106,339,000 after purchasing an additional 294,898 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Marriott International by 35,705.3% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 241,686 shares of the company’s stock worth $71,681,000 after buying an additional 241,011 shares during the period. 70.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MAR. Evercore ISI raised shares of Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price objective on the stock in a research note on Tuesday, February 4th. Morgan Stanley lifted their price objective on Marriott International from $289.00 to $298.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Susquehanna increased their target price on Marriott International from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Truist Financial decreased their target price on Marriott International from $308.00 to $300.00 and set a “hold” rating for the company in a research report on Friday. Finally, Argus lifted their price objective on shares of Marriott International from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Marriott International currently has a consensus rating of “Hold” and a consensus price target of $286.05.

Insider Activity at Marriott International

In related news, insider William P. Brown sold 12,642 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the transaction, the insider now directly owns 30,919 shares of the company’s stock, valued at approximately $8,831,393.97. This trade represents a 29.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rena Hozore Reiss sold 3,500 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the completion of the sale, the executive vice president now directly owns 24,733 shares of the company’s stock, valued at $7,089,714.45. This represents a 12.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,694 shares of company stock worth $8,938,132. Insiders own 12.32% of the company’s stock.

Marriott International Stock Up 2.3 %

MAR stock opened at $242.92 on Tuesday. Marriott International, Inc. has a twelve month low of $204.55 and a twelve month high of $307.52. The company has a market cap of $66.97 billion, a price-to-earnings ratio of 29.20, a P/E/G ratio of 3.42 and a beta of 1.58. The business has a 50 day moving average price of $274.94 and a two-hundred day moving average price of $270.47.

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 negative return on equity of 116.67% and a net margin of 9.46%. On average, equities research analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, February 27th 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 1.04%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International’s dividend payout ratio is presently 30.29%.

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.