CIBC Asset Management Inc Has $8.40 Million Stock Holdings in Hilton Worldwide Holdings Inc. (NYSE:HLT)

CIBC Asset Management Inc increased its position in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT) by 7.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,442 shares of the company’s stock after buying an additional 2,403 shares during the quarter. CIBC Asset Management Inc’s holdings in Hilton Worldwide were worth $8,400,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in HLT. Principal Financial Group Inc. grew its position in Hilton Worldwide by 15.3% during the third quarter. Principal Financial Group Inc. now owns 10,756,416 shares of the company’s stock worth $2,479,354,000 after buying an additional 1,429,537 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Hilton Worldwide by 36.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,754,647 shares of the company’s stock worth $1,037,464,000 after buying an additional 1,282,676 shares in the last quarter. Capital World Investors grew its position in Hilton Worldwide by 66.3% during the first quarter. Capital World Investors now owns 3,127,600 shares of the company’s stock worth $667,148,000 after buying an additional 1,246,662 shares in the last quarter. International Assets Investment Management LLC grew its position in Hilton Worldwide by 23,730.1% during the third quarter. International Assets Investment Management LLC now owns 479,223 shares of the company’s stock worth $1,104,610,000 after buying an additional 477,212 shares in the last quarter. Finally, PineStone Asset Management Inc. acquired a new stake in Hilton Worldwide during the second quarter valued at approximately $98,607,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hilton Worldwide

In other news, insider Laura Fuentes sold 4,919 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $217.00, for a total value of $1,067,423.00. Following the completion of the transaction, the insider now owns 15,949 shares of the company’s stock, valued at $3,460,933. The trade was a 23.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael W. Duffy sold 14,357 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 22,833 shares of the company’s stock, valued at $5,382,423.09. This trade represents a 38.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

HLT has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Hilton Worldwide in a report on Wednesday, September 18th. They set a “buy” rating and a $245.00 price objective on the stock. Melius downgraded Hilton Worldwide from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Mizuho lifted their price objective on Hilton Worldwide from $237.00 to $243.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays decreased their price objective on Hilton Worldwide from $244.00 to $243.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Truist Financial lifted their price objective on Hilton Worldwide from $208.00 to $220.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Hilton Worldwide currently has an average rating of “Hold” and an average target price of $228.71.

Hilton Worldwide Price Performance

HLT stock opened at $248.41 on Friday. The company has a 50 day moving average price of $233.57 and a 200 day moving average price of $218.62. Hilton Worldwide Holdings Inc. has a fifty-two week low of $164.93 and a fifty-two week high of $255.86. The stock has a market capitalization of $60.56 billion, a PE ratio of 53.31, a price-to-earnings-growth ratio of 3.18 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 for the quarter, topping the consensus estimate 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 net margin of 10.70% and a negative return on equity of 60.85%. Hilton Worldwide’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.67 EPS. As a group, equities analysts expect that Hilton Worldwide Holdings Inc. will post 7 earnings per share for the current fiscal year.

Hilton Worldwide declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 14th that permits the company to repurchase $3.50 billion in shares. This repurchase authorization permits the company to buy up to 5.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Hilton Worldwide Dividend Announcement

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

Hilton Worldwide 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.