Cubist Systematic Strategies LLC reduced its position in shares of Hilton Worldwide Holdings Inc (NYSE:HLT) by 92.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,975 shares of the company’s stock after selling 72,122 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Hilton Worldwide were worth $415,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Hilton Worldwide by 46.3% during the 2nd quarter. Vanguard Group Inc. now owns 13,600,970 shares of the company’s stock valued at $841,220,000 after purchasing an additional 4,302,706 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Hilton Worldwide by 19.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,725,143 shares of the company’s stock valued at $882,616,000 after purchasing an additional 2,035,463 shares in the last quarter. BlackRock Inc. boosted its stake in Hilton Worldwide by 13.7% during the 2nd quarter. BlackRock Inc. now owns 12,048,689 shares of the company’s stock valued at $745,212,000 after purchasing an additional 1,448,078 shares in the last quarter. State Street Corp boosted its stake in Hilton Worldwide by 141.6% during the 2nd quarter. State Street Corp now owns 7,865,113 shares of the company’s stock valued at $486,454,000 after purchasing an additional 4,609,697 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Hilton Worldwide by 29.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,443,609 shares of the company’s stock valued at $308,609,000 after purchasing an additional 999,899 shares in the last quarter. 99.19% of the stock is owned by hedge funds and other institutional investors.
HLT has been the subject of a number of research reports. FBR & Co reaffirmed a “neutral” rating and set a $73.00 price target on shares of Hilton Worldwide in a research note on Thursday, October 26th. Morgan Stanley reaffirmed a “buy” rating on shares of Hilton Worldwide in a research note on Friday, December 8th. Royal Bank of Canada reaffirmed a “buy” rating and set a $70.00 price target on shares of Hilton Worldwide in a research note on Friday, September 22nd. Zacks Investment Research raised Hilton Worldwide from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Wednesday, September 27th. Finally, Barclays increased their price target on Hilton Worldwide from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $72.47.
Hilton Worldwide (NYSE:HLT) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.06. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. Hilton Worldwide had a return on equity of 27.32% and a net margin of 0.33%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. research analysts anticipate that Hilton Worldwide Holdings Inc will post 1.9 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, November 17th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.60 annualized dividend and a dividend yield of 0.75%. Hilton Worldwide’s dividend payout ratio (DPR) is presently 545.45%.
Hilton Worldwide announced that its Board of Directors has approved a stock buyback program on Thursday, November 16th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, major shareholder Hlt Holdco Iii Llc sold 15,596,175 shares of the firm’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $69.11, for a total value of $1,077,851,654.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.
Hilton Worldwide 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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