Principal Financial Group Inc. Boosts Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Principal Financial Group Inc. raised its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,638 shares of the company’s stock after purchasing an additional 4,301 shares during the period. Principal Financial Group Inc.’s holdings in Marriott International were worth $65,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MAR. Oddo BHF Asset Management Sas purchased a new stake in Marriott International in the third quarter worth $2,721,000. Tidal Investments LLC lifted its position in Marriott International by 86.8% during the 3rd quarter. Tidal Investments LLC now owns 16,375 shares of the company’s stock valued at $4,071,000 after acquiring an additional 7,607 shares during the period. Optimist Retirement Group LLC boosted its stake in Marriott International by 7.7% during the third quarter. Optimist Retirement Group LLC now owns 894 shares of the company’s stock worth $222,000 after acquiring an additional 64 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Marriott International during the third quarter valued at approximately $1,260,000. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Marriott International by 5.8% during the third quarter. Sanctuary Advisors LLC now owns 36,251 shares of the company’s stock valued at $9,012,000 after purchasing an additional 1,974 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Insider Activity at Marriott International

In other news, CAO Felitia Lee sold 916 shares of Marriott International stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $276.48, for a total value of $253,255.68. Following the sale, the chief accounting officer now directly owns 5,609 shares of the company’s stock, valued at approximately $1,550,776.32. The trade was a 14.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the transaction, the executive vice president now owns 12,286 shares of the company’s stock, valued at $3,372,384.14. This represents a 3.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,815 shares of company stock valued at $3,919,739. 12.32% of the stock is owned by company insiders.

Marriott International Trading Up 1.8 %

MAR opened at $283.96 on Friday. The firm’s 50 day simple moving average is $277.24 and its two-hundred day simple moving average is $250.70. The company has a market capitalization of $78.91 billion, a PE ratio of 29.70, a PEG ratio of 5.56 and a beta of 1.58. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $295.45.

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

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International’s dividend payout ratio is currently 26.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Sanford C. Bernstein upped their price target on shares of Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. BMO Capital Markets raised their price objective on shares of Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Robert W. Baird increased their price target on shares of Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Evercore ISI boosted their price objective on shares of Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Marriott International has an average rating of “Hold” and an average price target of $266.25.

Marriott International Profile

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.