Assenagon Asset Management S.A. Grows Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Assenagon Asset Management S.A. grew its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 341.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 381,226 shares of the company’s stock after purchasing an additional 294,898 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.14% of Marriott International worth $106,339,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MAR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Marriott International by 4.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,024,187 shares of the company’s stock worth $254,613,000 after acquiring an additional 46,563 shares during the last quarter. National Pension Service raised its holdings in shares of Marriott International by 11.6% during the third quarter. National Pension Service now owns 719,613 shares of the company’s stock valued at $178,896,000 after acquiring an additional 74,832 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Marriott International by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 679,757 shares of the company’s stock valued at $164,355,000 after purchasing an additional 33,149 shares during the period. Janus Henderson Group PLC lifted its holdings in Marriott International by 8.4% in the third quarter. Janus Henderson Group PLC now owns 613,052 shares of the company’s stock worth $152,399,000 after buying an additional 47,551 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Marriott International by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock worth $140,844,000 after buying an additional 2,723 shares during the period. Institutional investors own 70.70% of the company’s stock.

Marriott International Price Performance

Shares of Marriott International stock opened at $276.43 on Wednesday. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $295.45. The company’s fifty day simple moving average is $282.64 and its 200-day simple moving average is $255.36. The stock has a market capitalization of $76.82 billion, a PE ratio of 28.92, a P/E/G ratio of 5.47 and a beta of 1.57.

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 net margin of 11.18% and a negative return on equity of 177.91%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter last year, the firm posted $2.11 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Marriott International, Inc. will post 9.26 EPS for the current year.

Marriott International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Thursday, November 21st. Marriott International’s dividend payout ratio (DPR) is 26.36%.

Wall Street Analysts Forecast Growth

MAR has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on shares of Marriott International from $280.00 to $314.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company boosted their price target on Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Mizuho raised their price objective on Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Truist Financial boosted their target price on Marriott International from $254.00 to $277.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group raised their price target on Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $269.65.

Insider Buying and Selling

In related news, CEO Anthony Capuano sold 8,332 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 108,361 shares of the company’s stock, valued at approximately $30,827,620.89. This trade represents a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William P. Brown sold 1,707 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $284.30, for a total value of $485,300.10. Following the transaction, the insider now owns 23,077 shares of the company’s stock, valued at $6,560,791.10. This trade represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,815 shares of company stock worth $3,919,739. 12.32% of the stock is owned by corporate insiders.

About Marriott International

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.