Capital Wealth Planning LLC Trims Position in InterContinental Hotels Group PLC (NYSE:IHG)

Capital Wealth Planning LLC lessened its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,440 shares of the company's stock after selling 7,592 shares during the period. Capital Wealth Planning LLC's holdings in InterContinental Hotels Group were worth $2,179,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IHG. FMR LLC raised its holdings in InterContinental Hotels Group by 5.8% in the 3rd quarter. FMR LLC now owns 6,387,525 shares of the company's stock worth $705,758,000 after acquiring an additional 351,723 shares during the last quarter. ABC Arbitrage SA purchased a new position in shares of InterContinental Hotels Group in the fourth quarter worth $11,846,000. World Investment Advisors LLC bought a new position in shares of InterContinental Hotels Group during the third quarter valued at $86,000. JPMorgan Chase & Co. boosted its position in shares of InterContinental Hotels Group by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company's stock valued at $35,388,000 after buying an additional 73,361 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in InterContinental Hotels Group in the 4th quarter worth about $2,185,000. Hedge funds and other institutional investors own 15.09% of the company's stock.

Wall Street Analysts Forecast Growth

IHG has been the topic of several research analyst reports. Barclays upgraded shares of InterContinental Hotels Group from an "equal weight" rating to an "overweight" rating in a research note on Friday, November 15th. Citigroup began coverage on shares of InterContinental Hotels Group in a research report on Monday, February 24th. They set a "sell" rating on the stock. Morgan Stanley downgraded shares of InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein raised InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

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InterContinental Hotels Group Stock Up 0.4 %

IHG traded up $0.54 during trading on Wednesday, hitting $126.32. The company's stock had a trading volume of 268,504 shares, compared to its average volume of 167,271. The business's 50 day simple moving average is $128.66 and its 200-day simple moving average is $119.15. The firm has a market cap of $19.98 billion, a PE ratio of 22.40, a P/E/G ratio of 1.69 and a beta of 1.33. InterContinental Hotels Group PLC has a one year low of $91.57 and a one year high of $137.25.

About InterContinental Hotels Group

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.