Veritas Asset Management LLP Sells 9,885 Shares of Hyatt Hotels Corporation $H

Veritas Asset Management LLP decreased its holdings in shares of Hyatt Hotels Corporation (NYSE:H) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,326,362 shares of the company’s stock after selling 9,885 shares during the quarter. Hyatt Hotels accounts for approximately 4.8% of Veritas Asset Management LLP’s holdings, making the stock its 10th biggest position. Veritas Asset Management LLP’s holdings in Hyatt Hotels were worth $257,102,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Fifth Third Wealth Advisors LLC increased its stake in Hyatt Hotels by 4.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,459 shares of the company’s stock valued at $210,000 after buying an additional 60 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Hyatt Hotels by 1.0% during the 1st quarter. Pacer Advisors Inc. now owns 6,625 shares of the company’s stock valued at $953,000 after acquiring an additional 67 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Hyatt Hotels by 18.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 459 shares of the company’s stock worth $74,000 after acquiring an additional 72 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Hyatt Hotels by 3.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,318 shares of the company’s stock worth $372,000 after acquiring an additional 79 shares in the last quarter. Finally, Ethic Inc. boosted its position in Hyatt Hotels by 3.5% during the fourth quarter. Ethic Inc. now owns 2,533 shares of the company’s stock valued at $406,000 after purchasing an additional 85 shares during the last quarter. 73.54% of the stock is owned by hedge funds and other institutional investors.

Hyatt Hotels Stock Performance

H stock traded down $4.44 on Tuesday, reaching $161.41. 811,502 shares of the company were exchanged, compared to its average volume of 848,922. The firm has a market capitalization of $15.21 billion, a PE ratio of 196.84 and a beta of 1.34. Hyatt Hotels Corporation has a 12 month low of $134.18 and a 12 month high of $206.86. The stock’s fifty day moving average price is $181.18 and its 200 day moving average price is $172.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.62 and a quick ratio of 0.62.

Hyatt Hotels (NYSE:H) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.21. Hyatt Hotels had a net margin of 1.10% and a return on equity of 7.27%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the business posted $0.68 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, research analysts anticipate that Hyatt Hotels Corporation will post 3.54 EPS for the current fiscal year.

Hyatt Hotels Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be given a $0.15 dividend. The ex-dividend date is Thursday, August 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.4%. Hyatt Hotels’s dividend payout ratio (DPR) is currently 73.17%.

Insider Activity

In related news, Director Susan Kronick sold 1,700 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $179.88, for a total value of $305,796.00. Following the completion of the transaction, the director directly owned 29,525 shares in the company, valued at approximately $5,310,957. This represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 23.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Hyatt Hotels from $215.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Susquehanna upped their price objective on shares of Hyatt Hotels from $180.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Morgan Stanley lowered their target price on shares of Hyatt Hotels from $218.00 to $209.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 18th. Sanford C. Bernstein boosted their price target on Hyatt Hotels from $186.00 to $202.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, Wells Fargo & Company increased their price objective on Hyatt Hotels from $182.00 to $186.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $197.07.

About Hyatt Hotels

Hyatt Hotels Corporation (NYSE: H) is a global hospitality company that develops, owns, manages and franchises luxury and business hotels, resorts and vacation properties. Its portfolio spans a range of price points and styles under brands such as Park Hyatt, Grand Hyatt, Andaz, Hyatt Regency, Hyatt Centric, Hyatt Place, Hyatt House, Thompson Hotels, Alila and Destination by Hyatt. In addition to accommodations, the company provides meeting and event spaces, food and beverage outlets, spa and wellness centers, and a variety of guest services designed to cater to both leisure and business travelers.

Hyatt’s business model combines property ownership, management contracts and third-party franchising.