Parnassus Investments LLC Sells 6,073 Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT)

Parnassus Investments LLC reduced its stake in Hilton Worldwide Holdings Inc. (NYSE:HLT - Free Report) by 2.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,521 shares of the company's stock after selling 6,073 shares during the quarter. Parnassus Investments LLC owned about 0.12% of Hilton Worldwide worth $64,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

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 value of $3,384,375.61. Following the transaction, the insider now owns 22,833 shares in the company, valued at $5,382,423.09. The trade was a 38.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the insider now owns 15,949 shares of the company's stock, valued at approximately $3,460,933. This represents a 23.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HLT. The Goldman Sachs Group began coverage on shares of Hilton Worldwide in a report on Wednesday, September 18th. They issued a "buy" rating and a $245.00 price objective for the company. Robert W. Baird upped their price target on shares of Hilton Worldwide from $235.00 to $236.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Evercore ISI boosted their target price on Hilton Worldwide from $210.00 to $240.00 and gave the company an "in-line" rating in a research note on Monday, October 21st. Wells Fargo & Company reduced their price target on Hilton Worldwide from $237.00 to $232.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Hilton Worldwide from $185.00 to $181.00 and set a "hold" rating for the company in a research report on Thursday, August 8th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Hilton Worldwide has a consensus rating of "Hold" and an average target price of $228.71.

Hilton Worldwide Stock Up 0.3 %

Shares of NYSE:HLT traded up $0.72 during trading on Tuesday, hitting $249.76. The stock had a trading volume of 940,594 shares, compared to its average volume of 1,554,984. Hilton Worldwide Holdings Inc. has a 12 month low of $165.25 and a 12 month high of $255.86. The company has a market capitalization of $60.89 billion, a PE ratio of 53.46, a PEG ratio of 3.13 and a beta of 1.30. The firm's fifty day moving average is $234.25 and its 200 day moving average is $219.13.

Hilton Worldwide (NYSE:HLT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the company earned $1.67 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that Hilton Worldwide Holdings Inc. will post 7 EPS for the current fiscal year.

Hilton Worldwide announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 14th that permits the company to buyback $3.50 billion in shares. This buyback authorization permits the company to reacquire up to 5.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Hilton Worldwide Dividend Announcement

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

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.