PNC Financial Services Group Inc. Has $106.73 Million Stake in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• PNC Financial Services Group Inc. increased its stake in Marriott International by acquiring an additional 4,396 shares, bringing its total ownership to approximately 0.16% valued at $106.7 million.
• Marriott International recently reported quarterly earnings of $2.32 per share, exceeding analysts' expectations and showing a year-over-year revenue increase of 4.8% to $6.26 billion.
• The company declared a quarterly dividend increase from $0.63 to $0.67, representing an annualized payout of $2.68 and a dividend yield of 1.0%.

PNC Financial Services Group Inc. lifted its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 448,063 shares of the company's stock after acquiring an additional 4,396 shares during the quarter. PNC Financial Services Group Inc. owned 0.16% of Marriott International worth $106,729,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of MAR. Brighton Jones LLC boosted its stake in Marriott International by 2.5% in the fourth quarter. Brighton Jones LLC now owns 8,887 shares of the company's stock valued at $2,479,000 after acquiring an additional 218 shares during the period. World Investment Advisors raised its holdings in shares of Marriott International by 101.1% during the fourth quarter. World Investment Advisors now owns 6,392 shares of the company's stock valued at $1,783,000 after buying an additional 3,213 shares during the last quarter. Yoffe Investment Management LLC bought a new stake in shares of Marriott International during the fourth quarter valued at approximately $206,000. Landscape Capital Management L.L.C. bought a new stake in shares of Marriott International during the fourth quarter valued at approximately $1,086,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Marriott International during the fourth quarter valued at approximately $19,132,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Stock Performance

Marriott International stock traded up $0.28 during trading hours on Thursday, hitting $262.99. 194,803 shares of the stock were exchanged, compared to its average volume of 1,722,750. The stock has a market capitalization of $72.03 billion, a P/E ratio of 29.65, a P/E/G ratio of 2.49 and a beta of 1.44. Marriott International, Inc. has a 12 month low of $205.40 and a 12 month high of $307.52. The business's 50-day moving average is $268.91 and its two-hundred day moving average is $261.84.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, meeting the consensus estimate of $2.65. Marriott International had a net margin of 9.60% and a negative return on equity of 94.29%. The business had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.66 billion. During the same period in the prior year, the firm earned $2.50 earnings per share. Marriott International's revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 23rd were paid a $0.67 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a yield of 1.0%. Marriott International's payout ratio is 30.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays cut their price target on Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. began coverage on Marriott International in a report on Monday, June 23rd. They set a "neutral" rating and a $284.00 price target on the stock. Morgan Stanley dropped their target price on Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets dropped their target price on Marriott International from $285.00 to $280.00 and set a "market perform" rating on the stock in a report on Wednesday. Finally, Melius Research raised Marriott International to a "strong-buy" rating in a report on Monday, April 21st. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $280.89.

Insider Buying and Selling at Marriott International

In other Marriott International news, insider Rajeev Menon sold 2,500 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total value of $670,700.00. Following the sale, the insider directly owned 5,706 shares in the company, valued at approximately $1,530,805.68. This trade represents a 30.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the completion of the sale, the chief executive officer owned 124,067 shares in the company, valued at approximately $32,741,281.30. This trade represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,500 shares of company stock valued at $4,107,710. 10.68% of the stock is currently owned by insiders.

Marriott International Company 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.