Marriott International Inc. (MAR) Shares Bought by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. boosted its stake in shares of Marriott International Inc. (NASDAQ:MAR) by 42.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 345,399 shares of the company’s stock after buying an additional 102,794 shares during the period. PNC Financial Services Group Inc.’s holdings in Marriott International were worth $23,256,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Gradient Investments LLC boosted its position in Marriott International by 0.4% in the second quarter. Gradient Investments LLC now owns 1,958 shares of the company’s stock valued at $130,000 after buying an additional 8 shares in the last quarter. Commerce Bank boosted its position in shares of Marriott International by 0.3% in the second quarter. Commerce Bank now owns 5,403 shares of the company’s stock worth $359,000 after buying an additional 18 shares during the period. Financial Architects Inc boosted its position in shares of Marriott International by 1.2% in the third quarter. Financial Architects Inc now owns 3,284 shares of the company’s stock worth $222,000 after buying an additional 38 shares during the period. Dumont & Blake Investment Advisors LLC boosted its position in shares of Marriott International by 0.5% in the third quarter. Dumont & Blake Investment Advisors LLC now owns 8,736 shares of the company’s stock worth $588,000 after buying an additional 40 shares during the period. Finally, Trust Co. of Virginia VA boosted its position in shares of Marriott International by 1.2% in the second quarter. Trust Co. of Virginia VA now owns 3,579 shares of the company’s stock worth $237,000 after buying an additional 41 shares during the period. Institutional investors and hedge funds own 63.96% of the company’s stock.
Marriott International Inc. (NASDAQ:MAR) traded up 1.14% during mid-day trading on Tuesday, reaching $78.96. The company’s stock had a trading volume of 576,222 shares. Marriott International Inc. has a one year low of $56.43 and a one year high of $78.98. The stock’s 50 day moving average is $71.28 and its 200 day moving average is $69.54. The firm has a market cap of $30.83 billion, a PE ratio of 28.11 and a beta of 1.23.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Marriott International had a net margin of 4.82% and a negative return on equity of 76.10%. The firm earned $3.94 billion during the quarter, compared to analysts’ expectations of $4.41 billion. During the same period in the prior year, the company earned $0.78 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. On average, analysts anticipate that Marriott International Inc. will post $3.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, November 24th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, November 21st. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. Marriott International’s dividend payout ratio (DPR) is 42.25%.
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MAR has been the subject of a number of recent research reports. Vetr cut Marriott International from a “buy” rating to a “hold” rating and set a $74.52 target price for the company. in a report on Monday, August 1st. Zacks Investment Research upgraded Marriott International from a “sell” rating to a “hold” rating in a report on Monday, August 1st. upgraded Marriott International from an “underperform” rating to an “outperform” rating in a report on Monday, August 15th. Sanford C. Bernstein initiated coverage on Marriott International in a report on Thursday, September 8th. They issued an “outperform” rating and a $87.00 target price for the company. Finally, Telsey Advisory Group dropped their target price on Marriott International from $74.00 to $70.00 and set a “market perform” rating for the company in a report on Friday, September 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. Marriott International currently has an average rating of “Hold” and an average target price of $76.59.
In other Marriott International news, major shareholder Richard E. Marriott sold 71,287 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $70.14, for a total value of $5,000,070.18. Following the completion of the transaction, the insider now directly owns 12,223,365 shares of the company’s stock, valued at approximately $857,346,821.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David A. Rodriguez sold 1,582 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $77.53, for a total transaction of $122,652.46. Following the completion of the transaction, the insider now directly owns 49,392 shares of the company’s stock, valued at $3,829,361.76. The disclosure for this sale can be found here. Corporate insiders own 17.07% of the company’s stock.
Marriott International Company Profile
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It operates through three segments: North American Full-Service, which includes brands, such as The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Marriott Hotels, Delta Hotels and Resorts, and Renaissance Hotels located in the United States and Canada; North American Limited-Service, which includes brands, such as AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites properties and Fairfield Inn & Suites located in the United States and Canada, and International, which includes brands, such as Bulgari Hotels & Resorts, Protea Hotels and Moxy Hotels located outside the United States and Canada.
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