Wellington Management Group LLP decreased its holdings in Hilton Hotels Co. (NYSE:HLT) by 41.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,079,332 shares of the company’s stock after selling 6,492,180 shares during the period. Wellington Management Group LLP owned about 3.27% of Hilton Hotels worth $619,573,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Hilton Hotels during the 4th quarter worth $290,742,000. Cohen & Steers Inc. purchased a new stake in shares of Hilton Hotels during the 4th quarter worth $272,231,000. Bessemer Group Inc. lifted its position in shares of Hilton Hotels by 328,333.8% during the 1st quarter. Bessemer Group Inc. now owns 1,990,309 shares of the company’s stock worth $135,818,000 after purchasing an additional 1,989,703 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Hilton Hotels by 12.3% during the 4th quarter. Capital Research Global Investors now owns 7,258,716 shares of the company’s stock worth $805,064,000 after purchasing an additional 793,632 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its position in shares of Hilton Hotels by 359.1% during the 4th quarter. Pictet Asset Management Ltd. now owns 637,851 shares of the company’s stock worth $70,744,000 after purchasing an additional 498,901 shares during the last quarter. Institutional investors and hedge funds own 99.36% of the company’s stock.
HLT has been the subject of a number of research reports. BMO Capital Markets reissued a “sell” rating and issued a $63.00 price target on shares of Hilton Hotels in a research report on Thursday, May 7th. Royal Bank of Canada cut shares of Hilton Hotels from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $105.00 to $78.00 in a research report on Monday, March 30th. Wells Fargo & Co reduced their price target on shares of Hilton Hotels from $92.00 to $65.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. Deutsche Bank reduced their price target on shares of Hilton Hotels from $103.00 to $74.00 and set a “hold” rating for the company in a research report on Thursday, May 7th. Finally, Nomura Securities reduced their target price on shares of Hilton Hotels from $130.00 to $102.00 and set a “buy” rating for the company in a report on Friday, March 13th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $82.07.
HLT traded down $4.28 during trading hours on Thursday, reaching $78.55. 237,629 shares of the stock traded hands, compared to its average volume of 4,654,250. The firm’s fifty day simple moving average is $75.96 and its two-hundred day simple moving average is $91.61. The company has a market cap of $22.97 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 9.21 and a beta of 1.30. Hilton Hotels Co. has a fifty-two week low of $44.30 and a fifty-two week high of $115.48.
Hilton Hotels (NYSE:HLT) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.23. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.88 billion. Hilton Hotels had a net margin of 8.08% and a negative return on equity of 276.10%. The business’s revenue was down 12.9% on a year-over-year basis. During the same period last year, the business earned $0.80 EPS. Analysts predict that Hilton Hotels Co. will post 0.99 EPS for the current year.
Hilton Hotels declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 3rd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
About Hilton Hotels
Hilton Worldwide Holdings Inc, a hospitality company, owns, leases, manages, develops, and franchises 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 to franchisees. It operates hotels under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Hilton Hotels & Resorts, Curio Collection by Hilton, DoubleTree by Hilton, Tapestry Collection by Hilton, Embassy Suites by Hilton, Motto by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton, Hilton Grand Vacations, and Signia Hilton brands.
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