Principal Financial Group Inc. Acquires 4,301 Shares of Marriott International, Inc. (NASDAQ:MAR)

Principal Financial Group Inc. grew its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,638 shares of the company’s stock after buying an additional 4,301 shares during the quarter. Principal Financial Group Inc. owned 0.09% of Marriott International worth $65,540,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC grew its position in Marriott International by 10.8% in the 3rd quarter. Larson Financial Group LLC now owns 379 shares of the company’s stock worth $94,000 after purchasing an additional 37 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Marriott International by 0.4% in the third quarter. Harbor Capital Advisors Inc. now owns 8,698 shares of the company’s stock valued at $2,162,000 after acquiring an additional 38 shares in the last quarter. Haverford Trust Co increased its position in shares of Marriott International by 1.0% during the third quarter. Haverford Trust Co now owns 4,207 shares of the company’s stock valued at $1,046,000 after acquiring an additional 40 shares during the last quarter. MCF Advisors LLC lifted its holdings in Marriott International by 4.2% during the second quarter. MCF Advisors LLC now owns 1,202 shares of the company’s stock worth $290,000 after acquiring an additional 49 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in Marriott International by 1.0% in the 2nd quarter. Coldstream Capital Management Inc. now owns 5,235 shares of the company’s stock valued at $1,266,000 after purchasing an additional 50 shares during the period. 70.70% of the stock is owned by institutional investors.

Insider Activity at Marriott International

In related news, CEO Anthony Capuano sold 8,332 shares of Marriott International stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total value of $2,370,370.68. Following the transaction, the chief executive officer now owns 108,361 shares in the company, valued at $30,827,620.89. This trade represents a 7.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen K. Oberg sold 2,360 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $285.41, for a total value of $673,567.60. Following the sale, the chief financial officer now owns 39,726 shares of the company’s stock, valued at $11,338,197.66. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,815 shares of company stock valued at $3,919,739 over the last 90 days. 12.32% of the stock is owned by insiders.

Marriott International Stock Performance

NASDAQ:MAR opened at $283.96 on Friday. The firm has a market capitalization of $78.91 billion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 5.56 and a beta of 1.58. The stock has a fifty day moving average of $277.24 and a 200 day moving average of $250.70. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $295.45.

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

Marriott International Dividend Announcement

The business 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 $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 annualized dividend and a yield of 0.89%. Marriott International’s dividend payout ratio (DPR) is presently 26.36%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MAR. Mizuho increased their price target on shares of Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Macquarie reissued a “neutral” rating and set a $245.00 target price on shares of Marriott International in a research report on Tuesday, November 5th. Truist Financial upped their price objective on Marriott International from $254.00 to $277.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their target price 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. Finally, TD Cowen cut their price target on Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.