State of Michigan Retirement System Sells 700 Shares of Hyatt Hotels Co. (NYSE:H)

State of Michigan Retirement System lowered its stake in Hyatt Hotels Co. (NYSE:H) by 6.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,000 shares of the company’s stock after selling 700 shares during the quarter. State of Michigan Retirement System’s holdings in Hyatt Hotels were worth $1,570,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bamco Inc. NY grew its stake in shares of Hyatt Hotels by 1.3% in the third quarter. Bamco Inc. NY now owns 5,483,404 shares of the company’s stock worth $834,574,000 after purchasing an additional 68,608 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Hyatt Hotels by 1.8% in the 4th quarter. Principal Financial Group Inc. now owns 2,694,357 shares of the company’s stock worth $422,960,000 after buying an additional 46,413 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Hyatt Hotels by 3.3% during the third quarter. Wellington Management Group LLP now owns 1,755,535 shares of the company’s stock valued at $267,192,000 after buying an additional 56,082 shares during the period. State Street Corp raised its holdings in shares of Hyatt Hotels by 0.4% during the third quarter. State Street Corp now owns 1,441,148 shares of the company’s stock valued at $219,343,000 after acquiring an additional 6,007 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Hyatt Hotels by 1.0% in the third quarter. Geode Capital Management LLC now owns 752,105 shares of the company’s stock worth $114,214,000 after acquiring an additional 7,440 shares during the period. Hedge funds and other institutional investors own 73.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on H shares. Jefferies Financial Group upped their price objective on shares of Hyatt Hotels from $150.00 to $176.00 and gave the stock a “hold” rating in a report on Thursday, January 2nd. Susquehanna raised their price objective on shares of Hyatt Hotels from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Truist Financial upped their target price on Hyatt Hotels from $158.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. StockNews.com cut Hyatt Hotels from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. Finally, Evercore ISI raised Hyatt Hotels from an “in-line” rating to an “outperform” rating and set a $175.00 price target on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $162.24.

Insider Activity

In related news, Director Susan D. Kronick sold 1,600 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $141.78, for a total transaction of $226,848.00. Following the completion of the sale, the director now owns 37,927 shares in the company, valued at approximately $5,377,290.06. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.50% of the stock is owned by corporate insiders.

Hyatt Hotels Price Performance

Shares of NYSE H opened at $135.86 on Friday. The firm has a market cap of $13.06 billion, a P/E ratio of 10.92 and a beta of 1.51. Hyatt Hotels Co. has a twelve month low of $128.91 and a twelve month high of $168.20. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average of $151.47 and a 200 day moving average of $152.66.

Hyatt Hotels (NYSE:H) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.22). Hyatt Hotels had a return on equity of 9.81% and a net margin of 19.50%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, research analysts expect that Hyatt Hotels Co. will post 3.05 EPS for the current fiscal year.

Hyatt Hotels Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.44%. Hyatt Hotels’s dividend payout ratio is presently 4.82%.

About Hyatt Hotels

Hyatt Hotels Corporation operates as a hospitality company in the United States and internationally. It operates through Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, EAME Management and Franchising, and Apple Leisure Group segments. The company manages, franchises, licenses, owns, and leases portfolio of properties, consisting of full-service hotels and resorts, select service hotels, and other properties, including timeshare, fractional, residential, vacation, and condominium units.