Wedge Capital Management L L P NC lowered its holdings in shares of Hilton Hotels Co. (NYSE:HLT) by 19.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 298,120 shares of the company’s stock after selling 71,356 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Hilton Hotels were worth $33,064,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Hilton Hotels by 15.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 23,233,493 shares of the company’s stock worth $2,270,842,000 after purchasing an additional 3,174,048 shares during the period. Vanguard Group Inc. lifted its position in Hilton Hotels by 0.7% during the second quarter. Vanguard Group Inc. now owns 21,712,911 shares of the company’s stock valued at $2,122,219,000 after purchasing an additional 160,990 shares in the last quarter. BlackRock Inc. grew its holdings in Hilton Hotels by 3.0% during the second quarter. BlackRock Inc. now owns 18,864,311 shares of the company’s stock valued at $1,843,798,000 after purchasing an additional 544,547 shares during the period. Voya Investment Management LLC grew its holdings in Hilton Hotels by 27.6% during the third quarter. Voya Investment Management LLC now owns 2,875,475 shares of the company’s stock valued at $267,736,000 after purchasing an additional 622,480 shares during the period. Finally, Nuveen Asset Management LLC increased its position in Hilton Hotels by 1,101.0% in the second quarter. Nuveen Asset Management LLC now owns 2,348,802 shares of the company’s stock worth $229,572,000 after buying an additional 2,153,226 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.
A number of research firms have recently weighed in on HLT. Raymond James lifted their price objective on Hilton Hotels from $104.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Zacks Investment Research raised shares of Hilton Hotels from a “sell” rating to a “hold” rating and set a $103.00 target price for the company in a report on Monday, October 28th. Morgan Stanley increased their target price on shares of Hilton Hotels from $93.00 to $108.00 and gave the stock an “equal weight” rating in a report on Thursday, January 9th. BMO Capital Markets initiated coverage on shares of Hilton Hotels in a report on Wednesday, October 16th. They set an “outperform” rating and a $104.00 price target on the stock. Finally, Wells Fargo & Co dropped their price target on shares of Hilton Hotels from $97.00 to $95.00 and set a “market perform” rating for the company in a research report on Friday, October 18th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Hilton Hotels has an average rating of “Hold” and a consensus target price of $102.63.
Hilton Hotels (NYSE:HLT) last issued its earnings results on Wednesday, October 23rd. The company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.03. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. Hilton Hotels had a net margin of 9.92% and a return on equity of 972.97%. Hilton Hotels’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. Sell-side analysts expect that Hilton Hotels Co. will post 3.85 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 8th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Thursday, November 7th. Hilton Hotels’s payout ratio is currently 21.51%.
About Hilton Hotels
Hilton Worldwide Holdings Inc, a hospitality company, owns, leases, manages, develops, and franchises 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 to franchisees. It operates hotels under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Hilton Hotels & Resorts, Curio Collection by Hilton, DoubleTree by Hilton, Tapestry Collection by Hilton, Embassy Suites by Hilton, Motto by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton, Hilton Grand Vacations, and Signia Hilton brands.
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