CIBC Asset Management Inc Buys 2,403 Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT)

CIBC Asset Management Inc boosted its stake in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,442 shares of the company's stock after buying an additional 2,403 shares during the period. CIBC Asset Management Inc's holdings in Hilton Worldwide were worth $8,400,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new stake in Hilton Worldwide during the 3rd quarter worth about $25,000. EdgeRock Capital LLC acquired a new stake in shares of Hilton Worldwide during the second quarter worth approximately $33,000. NewSquare Capital LLC purchased a new position in Hilton Worldwide during the second quarter valued at approximately $37,000. Family Firm Inc. acquired a new position in Hilton Worldwide in the 2nd quarter valued at approximately $38,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Hilton Worldwide during the third quarter worth $38,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Michael W. Duffy sold 14,357 shares of the company's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $235.73, for a total transaction of $3,384,375.61. Following the transaction, the insider now owns 22,833 shares in the company, valued at $5,382,423.09. This represents a 38.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura Fuentes sold 4,919 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $217.00, for a total transaction of $1,067,423.00. Following the completion of the sale, the insider now owns 15,949 shares of the company's stock, valued at $3,460,933. The trade was a 23.57 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

Hilton Worldwide Stock Down 0.6 %

Hilton Worldwide stock traded down $1.48 on Friday, hitting $248.41. The company's stock had a trading volume of 1,851,700 shares, compared to its average volume of 1,528,117. Hilton Worldwide Holdings Inc. has a one year low of $164.93 and a one year high of $255.86. The firm has a market cap of $60.56 billion, a P/E ratio of 53.31, a price-to-earnings-growth ratio of 3.13 and a beta of 1.30. The company has a fifty day moving average price of $233.57 and a 200-day moving average price of $218.62.

Hilton Worldwide (NYSE:HLT - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.07. Hilton Worldwide had a negative return on equity of 60.85% and a net margin of 10.70%. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the company posted $1.67 earnings per share. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts anticipate that Hilton Worldwide Holdings Inc. will post 7 EPS for the current year.

Hilton Worldwide declared that its board has initiated a share repurchase plan on Thursday, November 14th that allows the company to buyback $3.50 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 5.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Hilton Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 15th. This represents a $0.60 annualized dividend and a yield of 0.24%. Hilton Worldwide's dividend payout ratio is 12.88%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HLT shares. The Goldman Sachs Group initiated coverage on Hilton Worldwide in a report on Wednesday, September 18th. They issued a "buy" rating and a $245.00 price objective on the stock. Melius Research restated a "hold" rating on shares of Hilton Worldwide in a report on Monday, October 21st. TD Cowen lowered their target price on shares of Hilton Worldwide from $265.00 to $256.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company reduced their price target on Hilton Worldwide from $237.00 to $232.00 and set an "equal weight" rating for the company in a research report on Thursday, October 24th. Finally, Truist Financial boosted their target price on Hilton Worldwide from $208.00 to $220.00 and gave the stock a "hold" rating in a report on Thursday, October 24th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $228.71.

About Hilton Worldwide

Hilton Worldwide Holdings Inc, a hospitality company, engages in managing, franchising, owning, and leasing hotels and resorts. It operates through two segments, Management and Franchise, and Ownership. The company engages in the hotel management and licensing of its brands. It operates luxury hotels under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, and Conrad Hotels & Resorts brand; lifestyle hotels under the Canopy by Hilton, Curio Collection by Hilton, Tapestry Collection by Hilton, Tempo by Hilton, and Motto by Hilton brand; full service hotels under the Signia by Hilton, Hilton Hotels & Resorts, and DoubleTree by Hilton brand; service hotels under the Hilton Garden Inn, Hampton by Hilton, and Tru by Hilton brand; all-suite hotels under the Embassy Suites by Hilton, Homewood Suites by Hilton, and Home2 Suites by Hilton brand; and economy hotel under the Spark by Hilton brand, as well as Hilton Grand Vacations.