PNC Financial Services Group Inc. lifted its position in shares of Marriott International Inc (NASDAQ:MAR) by 207.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,000,670 shares of the company’s stock after buying an additional 675,413 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.28% of Marriott International worth $136,071,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Financial Services Inc. lifted its stake in Marriott International by 2,222.2% in the 4th quarter. Rockefeller Financial Services Inc. now owns 41,800 shares of the company’s stock worth $5,674,000 after purchasing an additional 40,000 shares in the last quarter. Cbre Clarion Securities LLC purchased a new stake in Marriott International in the 4th quarter worth $104,785,000. Sandy Spring Bank lifted its stake in Marriott International by 17.1% in the 4th quarter. Sandy Spring Bank now owns 29,186 shares of the company’s stock worth $3,962,000 after purchasing an additional 4,264 shares in the last quarter. Nicholas Hoffman & Company LLC. purchased a new stake in Marriott International in the 4th quarter worth $226,000. Finally, Virtue Capital Management LLC purchased a new stake in Marriott International in the 4th quarter worth $497,000. Institutional investors own 63.95% of the company’s stock.
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MAR has been the topic of several research analyst reports. ValuEngine upgraded shares of Marriott International from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of Marriott International from a “hold” rating to a “buy” rating and set a $156.00 price target on the stock in a research note on Tuesday, May 15th. Deutsche Bank reiterated a “hold” rating and issued a $141.00 price target on shares of Marriott International in a research note on Thursday, May 10th. Robert W. Baird reiterated a “hold” rating and issued a $138.00 price target on shares of Marriott International in a research note on Thursday, April 19th. Finally, Royal Bank of Canada boosted their price target on shares of Marriott International to $159.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Marriott International presently has an average rating of “Buy” and a consensus target price of $133.15.
In related news, insider Craig S. Smith sold 14,422 shares of the company’s stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $140.80, for a total transaction of $2,030,617.60. Following the transaction, the insider now directly owns 34,899 shares in the company, valued at approximately $4,913,779.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary K. Bush sold 2,184 shares of the company’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $138.84, for a total transaction of $303,226.56. Following the transaction, the director now owns 275 shares in the company, valued at $38,181. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,606 shares of company stock worth $2,477,674. Insiders own 12.99% of the company’s stock.
Marriott International opened at $137.97 on Tuesday, Marketbeat reports. Marriott International Inc has a twelve month low of $96.90 and a twelve month high of $149.21. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market capitalization of $48.75 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 2.17 and a beta of 1.36.
Marriott International (NASDAQ:MAR) last posted its earnings results on Tuesday, May 8th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Marriott International had a net margin of 6.29% and a return on equity of 41.82%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $5.78 billion. During the same period in the previous year, the firm posted $1.01 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. equities analysts forecast that Marriott International Inc will post 5.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, May 18th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, May 17th. This is an increase from Marriott International’s previous quarterly dividend of $0.33. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.19%. Marriott International’s payout ratio is 37.61%.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through three segments: North American Full-Service, North American Limited-Service, and Asia Pacific. It operates its properties under the JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St.