Investment Management Corp of Ontario Acquires 2,600 Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT)

Investment Management Corp of Ontario boosted its position in Hilton Worldwide Holdings Inc. (NYSE:HLT) by 46.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,244 shares of the company’s stock after acquiring an additional 2,600 shares during the quarter. Investment Management Corp of Ontario’s holdings in Hilton Worldwide were worth $1,900,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. PGGM Investments increased its stake in Hilton Worldwide by 337.6% in the second quarter. PGGM Investments now owns 14,378 shares of the company’s stock valued at $3,137,000 after acquiring an additional 11,092 shares during the last quarter. SG Americas Securities LLC increased its stake in Hilton Worldwide by 201.4% in the third quarter. SG Americas Securities LLC now owns 181,576 shares of the company’s stock valued at $41,853,000 after acquiring an additional 121,322 shares during the last quarter. Chartwell Investment Partners LLC increased its stake in Hilton Worldwide by 35.8% in the third quarter. Chartwell Investment Partners LLC now owns 28,756 shares of the company’s stock valued at $6,628,000 after acquiring an additional 7,583 shares during the last quarter. Raymond James & Associates increased its stake in Hilton Worldwide by 10.9% in the second quarter. Raymond James & Associates now owns 321,656 shares of the company’s stock valued at $70,185,000 after acquiring an additional 31,548 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Hilton Worldwide in the third quarter valued at approximately $38,000. 95.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Hilton Worldwide

In other Hilton Worldwide news, insider Michael W. Duffy sold 14,357 shares of Hilton Worldwide stock in a transaction on 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 completion of the sale, the insider now directly owns 22,833 shares of the company’s stock, valued at approximately $5,382,423.09. The trade was a 38.60 % 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 Laura Fuentes sold 4,919 shares of Hilton Worldwide stock in a transaction on 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 completion of the sale, the insider now directly owns 15,949 shares of the company’s stock, valued at approximately $3,460,933. This trade represents a 23.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Hilton Worldwide Stock Up 1.2 %

HLT stock opened at $254.02 on Thursday. The firm has a market cap of $61.92 billion, a price-to-earnings ratio of 54.51, a PEG ratio of 3.15 and a beta of 1.30. Hilton Worldwide Holdings Inc. has a 12-month low of $166.92 and a 12-month high of $255.86. The company’s fifty day simple moving average is $241.76 and its 200 day simple moving average is $223.09.

Hilton Worldwide (NYSE:HLT) last released its earnings results on Wednesday, October 23rd. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.07. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.90 billion. Hilton Worldwide had a net margin of 10.70% and a negative return on equity of 60.85%. Hilton Worldwide’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.67 earnings per share. Research analysts expect that Hilton Worldwide Holdings Inc. will post 7 earnings per share for the current year.

Hilton Worldwide announced that its board has authorized a stock repurchase plan on Thursday, November 14th that authorizes the company to repurchase $3.50 billion in shares. This repurchase authorization authorizes the company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Hilton Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, November 15th. Hilton Worldwide’s dividend payout ratio (DPR) is currently 12.88%.

Wall Street Analyst Weigh In

HLT has been the topic of a number of research analyst reports. Robert W. Baird raised their target price 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. Barclays cut their target price on shares of Hilton Worldwide from $244.00 to $243.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Melius Research restated a “hold” rating on shares of Hilton Worldwide in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft cut their target price on shares of Hilton Worldwide from $185.00 to $181.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Truist Financial raised their target price on shares of Hilton Worldwide from $208.00 to $220.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $228.71.

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.