Assenagon Asset Management S.A. Purchases 81,313 Shares of Marriott International, Inc. (NASDAQ:MAR)

Assenagon Asset Management S.A. increased its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 1,621.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 86,328 shares of the company’s stock after purchasing an additional 81,313 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Marriott International were worth $21,461,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MAR. Lafayette Investments Inc. lifted its holdings in Marriott International by 9.7% in the third quarter. Lafayette Investments Inc. now owns 1,781 shares of the company’s stock valued at $443,000 after buying an additional 157 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Marriott International by 63.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 9,065 shares of the company’s stock valued at $2,254,000 after purchasing an additional 3,523 shares during the period. Great Lakes Retirement Inc. boosted its position in shares of Marriott International by 2.0% in the 3rd quarter. Great Lakes Retirement Inc. now owns 10,501 shares of the company’s stock worth $2,610,000 after purchasing an additional 210 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Marriott International by 15,148.3% in the third quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock valued at $75,208,000 after purchasing an additional 300,543 shares during the last quarter. Finally, RAM Investment Partners LLC acquired a new position in Marriott International in the third quarter valued at about $201,000. Institutional investors own 70.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on MAR shares. Morgan Stanley lowered their price target on Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Macquarie reiterated a “neutral” rating and issued a $245.00 target price on shares of Marriott International in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft dropped their price target on Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group initiated coverage on Marriott International in a research note on Wednesday, September 18th. They set a “buy” rating and a $267.00 target price for the company. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $256.39.

Marriott International Stock Up 0.6 %

NASDAQ:MAR opened at $262.12 on Friday. The firm has a market capitalization of $74.87 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 6.36 and a beta of 1.59. The stock’s 50 day moving average price is $242.52 and its two-hundred day moving average price is $238.81. Marriott International, Inc. has a twelve month low of $180.75 and a twelve month high of $266.58.

Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.01. The business had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.47 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. Marriott International’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $2.26 EPS. As a group, analysts anticipate that Marriott International, Inc. will post 9.37 earnings per share for the current year.

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 16th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, August 16th. Marriott International’s payout ratio is presently 26.01%.

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.