Chevy Chase Trust Holdings LLC Sells 4,355 Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT)

Chevy Chase Trust Holdings LLC decreased its stake in Hilton Worldwide Holdings Inc. (NYSE:HLT) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 132,150 shares of the company’s stock after selling 4,355 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Hilton Worldwide worth $30,461,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ascent Group LLC bought a new stake in shares of Hilton Worldwide in the 3rd quarter worth approximately $1,206,000. Benjamin Edwards Inc. bought a new stake in shares of Hilton Worldwide in the third quarter valued at $578,000. Bamco Inc. NY lifted its position in shares of Hilton Worldwide by 5.6% during the 3rd quarter. Bamco Inc. NY now owns 308,295 shares of the company’s stock valued at $71,062,000 after buying an additional 16,256 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Hilton Worldwide during the 3rd quarter worth $4,593,000. Finally, True Wealth Design LLC increased its holdings in Hilton Worldwide by 2,400.0% in the 3rd quarter. True Wealth Design LLC now owns 175 shares of the company’s stock worth $40,000 after acquiring an additional 168 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Michael W. Duffy sold 14,357 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $235.73, for a total transaction of $3,384,375.61. Following the completion of the sale, the insider now directly owns 22,833 shares in the company, valued at $5,382,423.09. This represents a 38.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Laura Fuentes sold 4,919 shares of the firm’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Hilton Worldwide Stock Performance

NYSE HLT opened at $250.48 on Tuesday. Hilton Worldwide Holdings Inc. has a 52-week low of $166.92 and a 52-week high of $255.86. The company has a fifty day moving average of $240.26 and a 200-day moving average of $222.23. The company has a market capitalization of $61.06 billion, a P/E ratio of 53.75, a P/E/G ratio of 3.19 and a beta of 1.30.

Hilton Worldwide (NYSE:HLT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.07. The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Hilton Worldwide had a negative return on equity of 60.85% and a net margin of 10.70%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.67 EPS. As a group, analysts forecast that Hilton Worldwide Holdings Inc. will post 7 EPS for the current fiscal year.

Hilton Worldwide declared that its Board of Directors has approved a stock repurchase program on Thursday, November 14th that permits the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hilton Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 15th will be issued a $0.15 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. Hilton Worldwide’s payout ratio is 12.88%.

Analysts Set New Price Targets

HLT has been the subject of a number of research reports. The Goldman Sachs Group began coverage on shares of Hilton Worldwide in a research report on Wednesday, September 18th. They set a “buy” rating and a $245.00 target price for the company. Wells Fargo & Company reduced their price objective on shares of Hilton Worldwide from $237.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Macquarie increased their target price on Hilton Worldwide from $205.00 to $208.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Melius cut Hilton Worldwide from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Truist Financial increased their price objective on Hilton Worldwide from $208.00 to $220.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Hilton Worldwide presently has an average rating of “Hold” and a consensus 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.