Jennison Associates LLC Sells 55,829 Shares of Marriott International, Inc. (NASDAQ:MAR)

Jennison Associates LLC lowered its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,208,719 shares of the company's stock after selling 55,829 shares during the period. Jennison Associates LLC owned 0.78% of Marriott International worth $549,088,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bangor Savings Bank raised its stake in Marriott International by 131.1% during the second quarter. Bangor Savings Bank now owns 104 shares of the company's stock worth $25,000 after buying an additional 59 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in Marriott International in the second quarter valued at approximately $26,000. MFA Wealth Advisors LLC bought a new stake in shares of Marriott International in the 2nd quarter valued at $28,000. Silvant Capital Management LLC bought a new position in Marriott International during the third quarter worth $31,000. Finally, Unique Wealth Strategies LLC bought a new stake in Marriott International in the second quarter valued at $35,000. Institutional investors own 70.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Evercore ISI increased their price target on Marriott International from $245.00 to $270.00 and gave the stock an "in-line" rating in a report on Monday, October 21st. BMO Capital Markets raised their price objective on shares of Marriott International from $255.00 to $265.00 and gave the company a "market perform" rating in a research note on Tuesday, November 5th. Barclays raised their price target on shares of Marriott International from $240.00 to $249.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. UBS Group decreased their price objective on Marriott International from $267.00 to $244.00 and set a "neutral" rating for the company in a report on Tuesday, August 13th. Finally, Bank of America lifted their target price on Marriott International from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $259.00.

Marriott International Stock Up 0.3 %

MAR traded up $0.75 on Wednesday, hitting $280.02. The company's stock had a trading volume of 495,815 shares, compared to its average volume of 1,468,659. The company's 50 day simple moving average is $258.72 and its 200-day simple moving average is $242.46. Marriott International, Inc. has a 12 month low of $200.94 and a 12 month high of $289.04. The firm has a market cap of $77.82 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 5.48 and a beta of 1.58.

Marriott International (NASDAQ:MAR - Get Free Report) last released 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). The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.11 earnings per share. Equities analysts predict that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, November 21st. Marriott International's payout ratio is 26.36%.

Insider Buying and Selling at Marriott International

In related news, EVP Benjamin T. Breland sold 500 shares of Marriott International stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the transaction, the executive vice president now owns 12,286 shares in the company, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen K. Oberg sold 2,360 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $285.41, for a total value of $673,567.60. Following the completion of the sale, the chief financial officer now directly owns 39,726 shares of the company's stock, valued at approximately $11,338,197.66. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,108 shares of company stock valued at $3,434,439 in the last 90 days. Corporate insiders own 10.07% of the company's stock.

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.