State Street Corp Has $2.19 Billion Position in Hilton Worldwide Holdings Inc. (NYSE:HLT)

State Street Corp cut its holdings in Hilton Worldwide Holdings Inc. (NYSE:HLT) by 0.7% in the third quarter, Holdings Channel.com reports. The fund owned 9,504,442 shares of the company’s stock after selling 70,235 shares during the quarter. State Street Corp’s holdings in Hilton Worldwide were worth $2,190,774,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. acquired a new stake in Hilton Worldwide in the third quarter valued at approximately $25,000. EdgeRock Capital LLC acquired a new stake in Hilton Worldwide in the second quarter valued at approximately $33,000. NewSquare Capital LLC acquired a new stake in Hilton Worldwide in the second quarter valued at approximately $37,000. Family Firm Inc. acquired a new stake in Hilton Worldwide in the second quarter valued at approximately $38,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Hilton Worldwide in the third quarter valued at approximately $38,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HLT shares. Robert W. Baird lifted their target price on shares of Hilton Worldwide from $235.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company dropped their price target on shares of Hilton Worldwide from $237.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Melius lowered shares of Hilton Worldwide from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Barclays dropped their price target 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. Finally, TD Cowen dropped their price target on shares of Hilton Worldwide from $265.00 to $256.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $228.71.

Hilton Worldwide Price Performance

HLT opened at $255.40 on Friday. Hilton Worldwide Holdings Inc. has a fifty-two week low of $167.95 and a fifty-two week high of $256.73. The firm’s fifty day moving average price is $242.21 and its two-hundred day moving average price is $223.31. The company has a market capitalization of $62.26 billion, a P/E ratio of 54.81, a P/E/G ratio of 3.16 and a beta of 1.30.

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

Hilton Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.60 annualized dividend and a dividend yield of 0.23%. Hilton Worldwide’s dividend payout ratio is presently 12.88%.

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

Insider Activity

In related news, insider Michael W. Duffy sold 14,357 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $235.73, for a total transaction of $3,384,375.61. Following the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura Fuentes sold 4,919 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $217.00, for a total transaction of $1,067,423.00. Following the transaction, the insider now owns 15,949 shares in the company, valued at approximately $3,460,933. This trade represents a 23.57 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Hilton Worldwide Company 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.