PNC Financial Services Group Inc. Grows Stake in Marriott International, Inc. (NASDAQ:MAR)

PNC Financial Services Group Inc. lifted its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 443,103 shares of the company’s stock after acquiring an additional 12,702 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Marriott International were worth $110,156,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. BDF Gestion acquired a new position in Marriott International in the second quarter worth about $3,013,000. Jensen Investment Management Inc. acquired a new position in Marriott International in the third quarter worth about $793,000. CWM LLC grew its stake in Marriott International by 518.7% in the second quarter. CWM LLC now owns 47,519 shares of the company’s stock worth $11,489,000 after purchasing an additional 39,839 shares in the last quarter. BayBridge Capital Group LLC acquired a new position in Marriott International in the third quarter worth about $1,254,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Marriott International by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock valued at $140,844,000 after acquiring an additional 2,723 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAR has been the subject of a number of research reports. Truist Financial decreased their target price 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. Robert W. Baird lifted their target price on Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Macquarie restated a “neutral” rating and issued a $245.00 target price on shares of Marriott International in a research note on Tuesday, November 5th. The Goldman Sachs Group started coverage on Marriott International in a research note on Wednesday, September 18th. They issued a “buy” rating and a $267.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Marriott International currently has an average rating of “Hold” and an average target price of $259.00.

Marriott International Stock Down 0.8 %

Marriott International stock opened at $279.27 on Wednesday. The company’s fifty day simple moving average is $258.72 and its 200-day simple moving average is $242.46. Marriott International, Inc. has a 12 month low of $200.94 and a 12 month high of $289.04. The stock has a market cap of $77.61 billion, a P/E ratio of 29.21, a P/E/G ratio of 5.48 and a beta of 1.58.

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

Marriott International Dividend Announcement

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

Insider Buying and Selling

In other Marriott International 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 transaction of $137,245.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Capuano sold 8,332 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total transaction 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 $30,827,620.89. This represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,108 shares of company stock worth $3,434,439. Corporate insiders own 10.07% of the company’s stock.

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.