Assenagon Asset Management S.A. Sells 329,322 Shares of Marriott International, Inc. (NASDAQ:MAR)

Assenagon Asset Management S.A. reduced its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 86.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 51,904 shares of the company's stock after selling 329,322 shares during the period. Assenagon Asset Management S.A.'s holdings in Marriott International were worth $12,364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Marriott International by 0.8% during the 4th quarter. FMR LLC now owns 6,973,897 shares of the company's stock valued at $1,945,299,000 after buying an additional 56,978 shares during the period. Geode Capital Management LLC grew its stake in shares of Marriott International by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 5,026,529 shares of the company's stock valued at $1,398,321,000 after buying an additional 60,458 shares during the period. Capital International Investors boosted its position in Marriott International by 0.3% during the 4th quarter. Capital International Investors now owns 4,720,306 shares of the company's stock worth $1,316,682,000 after purchasing an additional 15,923 shares during the period. Wellington Management Group LLP boosted its position in Marriott International by 50.8% during the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock worth $1,300,168,000 after purchasing an additional 1,570,144 shares during the period. Finally, Invesco Ltd. boosted its position in Marriott International by 17.4% during the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock worth $967,662,000 after purchasing an additional 512,963 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on MAR shares. UBS Group decreased their price target on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Barclays decreased their price target on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $245.00 price target (down from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Robert W. Baird boosted their price objective on shares of Marriott International from $250.00 to $265.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Mizuho cut their price objective on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Thirteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $275.15.

Insider Buying and Selling

In related news, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction on Monday, May 12th. The shares were sold at an average price of $270.21, for a total value of $270,210.00. Following the completion of the sale, the executive vice president now owns 20,724 shares of the company's stock, valued at approximately $5,599,832.04. The trade was a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony Capuano sold 12,000 shares of Marriott International stock in a transaction on Friday, May 30th. The shares were 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 now directly owns 124,067 shares of the company's stock, valued at approximately $32,741,281.30. The trade was a 8.82% decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.68% of the company's stock.

Marriott International Stock Performance

Shares of NASDAQ:MAR traded down $8.24 during trading hours on Friday, hitting $254.99. The stock had a trading volume of 1,783,060 shares, compared to its average volume of 1,603,000. The stock's fifty day simple moving average is $249.62 and its 200 day simple moving average is $264.70. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The firm has a market capitalization of $69.84 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 3.42 and a beta of 1.42.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, beating analysts' consensus estimates of $2.25 by $0.07. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter last year, the business earned $2.13 earnings per share. The business's revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 23rd will be paid a $0.67 dividend. This is a positive change from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.68 dividend on an annualized basis and a yield of 1.05%. Marriott International's dividend payout ratio (DPR) is currently 30.52%.

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.