Principal Financial Group Inc. Reduces Position in Marriott International, Inc. $MAR

Principal Financial Group Inc. reduced its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 243,345 shares of the company’s stock after selling 6,616 shares during the period. Principal Financial Group Inc. owned approximately 0.09% of Marriott International worth $63,377,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new position in Marriott International during the 2nd quarter worth approximately $613,000. National Pension Service raised its position in shares of Marriott International by 1.6% during the 3rd quarter. National Pension Service now owns 603,431 shares of the company’s stock valued at $157,158,000 after acquiring an additional 9,530 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in Marriott International during the third quarter worth $858,000. Headwater Capital Co Ltd bought a new stake in Marriott International during the second quarter valued at $21,857,000. Finally, Index Fund Advisors Inc. acquired a new stake in shares of Marriott International during the second quarter worth $666,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on MAR shares. Robert W. Baird decreased their price target on shares of Marriott International from $287.00 to $285.00 and set a “neutral” rating for the company in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Marriott International in a research note on Thursday, January 22nd. The Goldman Sachs Group upgraded Marriott International from a “neutral” rating to a “buy” rating and increased their price target for the stock from $288.00 to $345.00 in a research report on Monday, December 15th. Morgan Stanley upped their price objective on Marriott International from $296.00 to $328.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Finally, Wells Fargo & Company initiated coverage on Marriott International in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $329.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Marriott International presently has an average rating of “Moderate Buy” and an average price target of $316.19.

Marriott International Price Performance

Marriott International stock opened at $318.42 on Wednesday. Marriott International, Inc. has a 12-month low of $205.40 and a 12-month high of $331.09. The stock has a market capitalization of $85.45 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.50 and a beta of 1.13. The firm has a 50 day simple moving average of $311.77 and a 200-day simple moving average of $284.55.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.09. Marriott International had a negative return on equity of 89.29% and a net margin of 10.07%.The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $6.46 billion. On average, analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Thursday, November 20th were issued a $0.67 dividend. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Marriott International’s dividend payout ratio is currently 28.30%.

Insider Activity at Marriott International

In other Marriott International news, CAO Felitia Lee sold 1,617 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $305.98, for a total transaction of $494,769.66. Following the completion of the sale, the chief accounting officer directly owned 4,893 shares of the company’s stock, valued at approximately $1,497,160.14. This represents a 24.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rena Hozore Reiss sold 5,483 shares of Marriott International stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $287.11, for a total transaction of $1,574,224.13. Following the completion of the transaction, the executive vice president directly owned 39,360 shares in the company, valued at approximately $11,300,649.60. This trade represents a 12.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 88,289 shares of company stock worth $25,669,425. 10.68% of the stock is owned by corporate insiders.

About Marriott International

Marriott International is a global lodging company that develops, manages and franchises a broad portfolio of hotels and related lodging facilities. Its core activities include hotel and resort management, franchise operations, property development and the provision of centralized services such as reservations, marketing and loyalty program management. The company’s brand architecture spans market segments from luxury and premium to select-service and extended-stay, enabling it to serve a wide range of business and leisure travelers as well as corporate and group customers.

The company traces its roots to the hospitality business founded by J.