JPMorgan Chase & Co. cut its stake in Hilton Worldwide Holdings Inc. (NYSE:HLT - Free Report) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,979,562 shares of the company's stock after selling 246,147 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.86% of Hilton Worldwide worth $1,608,789,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. GHP Investment Advisors Inc. bought a new position in Hilton Worldwide in the 3rd quarter valued at about $25,000. Groupama Asset Managment increased its stake in shares of Hilton Worldwide by 37.8% during the third quarter. Groupama Asset Managment now owns 15,025 shares of the company's stock worth $35,000 after purchasing an additional 4,118 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Hilton Worldwide during the 3rd quarter worth approximately $38,000. True Wealth Design LLC boosted its stake in Hilton Worldwide by 2,400.0% in the 3rd quarter. True Wealth Design LLC now owns 175 shares of the company's stock valued at $40,000 after purchasing an additional 168 shares during the period. Finally, Kings Path Partners LLC acquired a new position in Hilton Worldwide in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 95.90% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of 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. Bank of America raised their target price on shares of Hilton Worldwide from $230.00 to $265.00 and gave the stock a "buy" rating in a report on Monday, October 21st. JPMorgan Chase & Co. boosted their price target on Hilton Worldwide from $219.00 to $226.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Robert W. Baird lifted their price objective on Hilton Worldwide from $235.00 to $236.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Finally, Barclays boosted their price target on Hilton Worldwide from $243.00 to $268.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $232.65.
Read Our Latest Research Report on HLT
Hilton Worldwide Stock Performance
Shares of NYSE:HLT traded down $1.82 during midday trading on Friday, hitting $249.94. 1,288,174 shares of the stock were exchanged, compared to its average volume of 1,530,965. The stock has a market capitalization of $60.93 billion, a price-to-earnings ratio of 53.64, a P/E/G ratio of 3.23 and a beta of 1.30. Hilton Worldwide Holdings Inc. has a 12 month low of $178.23 and a 12 month high of $259.01. The business's 50-day moving average price is $247.62 and its 200 day moving average price is $228.89.
Hilton Worldwide (NYSE:HLT - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.07. Hilton Worldwide had a net margin of 10.70% and a negative return on equity of 60.85%. The business had revenue of $2.87 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same period in the previous year, the company earned $1.67 earnings per share. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts expect that Hilton Worldwide Holdings Inc. will post 7 EPS for the current year.
Hilton Worldwide Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 15th will be given 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 payout ratio is currently 12.88%.
Hilton Worldwide declared that its Board of Directors has authorized a share repurchase program on Thursday, November 14th that allows the company to buyback $3.50 billion in shares. This buyback authorization allows the company to buy up to 5.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
Insiders Place Their Bets
In other news, insider Michael W. Duffy sold 14,357 shares of the company's stock in a transaction on Thursday, October 24th. The stock was 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 of the company's stock, 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. Insiders own 2.50% of the company's stock.
About Hilton Worldwide
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Free Report)
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.
Further Reading
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