CIBC Asset Management Inc Raises Position in Hilton Worldwide Holdings Inc. (NYSE:HLT)

CIBC Asset Management Inc lifted its stake in Hilton Worldwide Holdings Inc. (NYSE:HLT) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,442 shares of the company’s stock after buying an additional 2,403 shares during the period. CIBC Asset Management Inc’s holdings in Hilton Worldwide were worth $8,400,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of HLT. GHP Investment Advisors Inc. purchased a new position in Hilton Worldwide in the third quarter valued at about $25,000. EdgeRock Capital LLC purchased a new position in Hilton Worldwide in the second quarter valued at about $33,000. NewSquare Capital LLC purchased a new position in Hilton Worldwide in the second quarter valued at about $37,000. Family Firm Inc. purchased a new position in Hilton Worldwide in the second quarter valued at about $38,000. Finally, Ashton Thomas Securities LLC purchased a new position in Hilton Worldwide in the third quarter valued at about $38,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Hilton Worldwide Stock Down 0.6 %

HLT opened at $248.41 on Friday. The firm has a market cap of $60.56 billion, a PE ratio of 53.31, a P/E/G ratio of 3.18 and a beta of 1.30. The business has a fifty day simple moving average of $233.57 and a 200-day simple moving average of $218.62. Hilton Worldwide Holdings Inc. has a fifty-two week low of $164.93 and a fifty-two week high of $255.86.

Hilton Worldwide (NYSE:HLT) last issued its earnings results on Wednesday, October 23rd. The company reported $1.92 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.90 billion. During the same quarter last year, the firm posted $1.67 earnings per share. Hilton Worldwide’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that Hilton Worldwide Holdings Inc. will post 7 EPS for the current fiscal year.

Hilton Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 15th will be issued 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 dividend payout ratio (DPR) is currently 12.88%.

Hilton Worldwide declared that its board has approved a share repurchase program on Thursday, November 14th that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 5.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HLT. Robert W. Baird increased their price target on Hilton Worldwide from $235.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Melius downgraded Hilton Worldwide from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Mizuho increased their target price on Hilton Worldwide from $237.00 to $243.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Wells Fargo & Company reduced their target price on Hilton Worldwide from $237.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Hilton Worldwide from $185.00 to $181.00 and set a “hold” rating on the stock in a 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $228.71.

Insider Buying and Selling at Hilton Worldwide

In other news, insider Laura Fuentes sold 4,919 shares of Hilton Worldwide stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $217.00, for a total value of $1,067,423.00. Following the transaction, the insider now directly owns 15,949 shares in the company, valued at approximately $3,460,933. The trade was a 23.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael W. Duffy sold 14,357 shares of Hilton Worldwide stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $235.73, for a total value of $3,384,375.61. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Hilton Worldwide Profile

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.