Point72 Asset Management L.P. Sells 6,500 Shares of Hilton Worldwide Holdings Inc (HLT)
Point72 Asset Management L.P. trimmed its holdings in shares of Hilton Worldwide Holdings Inc (NYSE:HLT) by 4.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 143,589 shares of the company’s stock after selling 6,500 shares during the period. Point72 Asset Management L.P.’s holdings in Hilton Worldwide were worth $9,972,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in HLT. QS Investors LLC lifted its holdings in shares of Hilton Worldwide by 749.6% during the second quarter. QS Investors LLC now owns 2,362 shares of the company’s stock valued at $146,000 after purchasing an additional 2,084 shares during the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new position in Hilton Worldwide in the 3rd quarter worth approximately $151,000. Commonwealth Bank of Australia raised its holdings in Hilton Worldwide by 255.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,022 shares of the company’s stock worth $185,000 after acquiring an additional 2,173 shares during the last quarter. Hilton Capital Management LLC purchased a new position in Hilton Worldwide in the 3rd quarter worth approximately $208,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Hilton Worldwide in the 3rd quarter worth approximately $208,000. Hedge funds and other institutional investors own 99.20% of the company’s stock.
In other Hilton Worldwide news, major shareholder Hlt Holdco Iii Llc sold 15,596,175 shares of Hilton Worldwide stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $69.11, for a total value of $1,077,851,654.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.
Hilton Worldwide (NYSE:HLT) last posted its earnings results on Thursday, October 26th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. Hilton Worldwide had a net margin of 0.33% and a return on equity of 27.32%. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. equities analysts expect that Hilton Worldwide Holdings Inc will post 1.9 earnings per share for the current year.
Hilton Worldwide announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 16th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, November 17th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 16th. Hilton Worldwide’s dividend payout ratio (DPR) is presently 545.45%.
A number of equities analysts recently weighed in on HLT shares. Zacks Investment Research lowered shares of Hilton Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. BidaskClub upgraded shares of Hilton Worldwide from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Goldman Sachs Group lowered shares of Hilton Worldwide from a “conviction-buy” rating to a “buy” rating and set a $80.00 price objective for the company. in a report on Tuesday, November 14th. FBR & Co lowered shares of Hilton Worldwide from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a report on Friday, October 27th. They noted that the move was a valuation call. Finally, Barclays boosted their price objective on shares of Hilton Worldwide from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $72.47.
Hilton Worldwide Company Profile
Hilton Worldwide Holdings Inc is a hospitality company. The Company is engaged in owning, leasing, managing and franchising hotels and resorts. The Company’s segments include ownership, and management and franchise. Its global portfolio of owned and leased properties includes a range of hotels in gateway cities, such as New York City, London, San Francisco, Chicago, Sao Paolo and Tokyo.
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