Jennison Associates LLC Lowers Holdings in Marriott International, Inc. (NASDAQ:MAR)

Jennison Associates LLC reduced its position in Marriott International, Inc. (NASDAQ:MAR) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,161,465 shares of the company’s stock after selling 47,254 shares during the period. Jennison Associates LLC’s holdings in Marriott International were worth $602,919,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Jensen Investment Management Inc. purchased a new stake in shares of Marriott International in the 3rd quarter worth approximately $793,000. BayBridge Capital Group LLC purchased a new stake in Marriott International during the third quarter worth $1,254,000. Sumitomo Mitsui Trust Group Inc. increased its holdings 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 valued at $140,844,000 after acquiring an additional 2,723 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in shares of Marriott International during the 3rd quarter worth $2,721,000. Finally, Kinsale Capital Group Inc. bought a new stake in Marriott International during the third quarter valued at about $3,769,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Price Performance

NASDAQ:MAR opened at $290.59 on Monday. The company’s fifty day moving average price is $283.06 and its 200-day moving average price is $259.10. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $295.45. The firm has a market capitalization of $80.75 billion, a P/E ratio of 30.40, a PEG ratio of 4.68 and a beta of 1.57.

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

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, November 21st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Thursday, November 21st. Marriott International’s dividend payout ratio (DPR) is presently 26.36%.

Insider Activity at Marriott International

In related news, insider William P. Brown sold 1,707 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 23,077 shares of the company’s stock, valued at approximately $6,560,791.10. The trade was a 6.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Benjamin T. Breland sold 500 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total transaction of $137,245.00. Following the transaction, the executive vice president now directly owns 12,286 shares in the company, valued at approximately $3,372,384.14. The trade was a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,815 shares of company stock worth $3,919,739. 10.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MAR shares. Sanford C. Bernstein raised their price target on shares of Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on shares of Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Wells Fargo & Company increased their price objective on Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. BMO Capital Markets upped their target price on Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, Mizuho raised their price target on Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $272.15.

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.