California State Teachers Retirement System lessened its position in Choice Hotels International Inc (NYSE:CHH) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,762 shares of the company’s stock after selling 5,761 shares during the period. California State Teachers Retirement System owned approximately 0.10% of Choice Hotels International worth $3,435,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the business. Utah Retirement Systems boosted its holdings in shares of Choice Hotels International by 1.7% in the second quarter. Utah Retirement Systems now owns 6,112 shares of the company’s stock valued at $393,000 after buying an additional 100 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Choice Hotels International by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 1,651 shares of the company’s stock valued at $106,000 after buying an additional 106 shares during the period. Legal & General Group Plc boosted its holdings in shares of Choice Hotels International by 1.1% in the second quarter. Legal & General Group Plc now owns 12,168 shares of the company’s stock valued at $782,000 after buying an additional 136 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Choice Hotels International by 10.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,611 shares of the company’s stock worth $104,000 after purchasing an additional 157 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Choice Hotels International by 0.3% during the second quarter. New York State Common Retirement Fund now owns 194,800 shares of the company’s stock worth $12,516,000 after purchasing an additional 499 shares during the last quarter. 50.76% of the stock is owned by hedge funds and other institutional investors.
In other Choice Hotels International news, CEO Patrick Pacious sold 11,149 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $75.78, for a total transaction of $844,871.22. Following the sale, the chief executive officer now directly owns 124,073 shares in the company, valued at $9,402,251.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bruce Bainum sold 250,000 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $74.05, for a total transaction of $18,512,500.00. The disclosure for this sale can be found here. 22.01% of the stock is currently owned by company insiders.
Choice Hotels International (NYSE:CHH) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.03. Choice Hotels International had a net margin of 15.66% and a negative return on equity of 60.41%. The company had revenue of $295.09 million for the quarter, compared to analyst estimates of $288.50 million. During the same period in the prior year, the firm earned $0.84 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. sell-side analysts predict that Choice Hotels International Inc will post 2.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Tuesday, January 2nd will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, December 29th. Choice Hotels International’s dividend payout ratio is 31.85%.
CHH has been the subject of several recent research reports. Barclays increased their target price on shares of Choice Hotels International from $60.00 to $67.00 and gave the stock an “underweight” rating in a report on Tuesday, November 7th. SunTrust Banks restated a “hold” rating and set a $71.00 target price on shares of Choice Hotels International in a report on Friday, November 10th. Zacks Investment Research upgraded shares of Choice Hotels International from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a report on Tuesday, October 17th. TheStreet raised shares of Choice Hotels International from a “c+” rating to a “b” rating in a research report on Wednesday, October 18th. Finally, JPMorgan Chase & Co. lowered shares of Choice Hotels International from a “neutral” rating to an “underweight” rating and set a $72.00 price target on the stock. in a research report on Wednesday, December 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $69.13.
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Choice Hotels International Company Profile
Choice Hotels International, Inc is a hotel franchisor. The Company’s segments include Hotel Franchising, SkyTouch Technology and Corporate & Other. It franchises lodging properties under brand names, including Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Extended Stay Hotel, Cambria hotels & suites, and Ascend Hotel Collection.
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