DAVENPORT & Co LLC Reduces Stock Position in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Posted by Defense World Staff on Oct 8th, 2023

DAVENPORT & Co LLC cut its stake in Hilton Worldwide Holdings Inc. (NYSE:HLT – Free Report) by 12.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,157 shares of the company’s stock after selling 305 shares during the period. DAVENPORT & Co LLC’s holdings in Hilton Worldwide were worth $314,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HLT. BOKF NA purchased a new position in shares of Hilton Worldwide during the 1st quarter worth approximately $34,000. Clear Street Markets LLC purchased a new position in shares of Hilton Worldwide during the 4th quarter worth approximately $34,000. VitalStone Financial LLC increased its stake in shares of Hilton Worldwide by 115.4% during the 1st quarter. VitalStone Financial LLC now owns 224 shares of the company’s stock worth $35,000 after purchasing an additional 120 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Hilton Worldwide during the 4th quarter worth approximately $45,000. Finally, Arlington Partners LLC purchased a new position in shares of Hilton Worldwide during the 1st quarter worth approximately $56,000. 94.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HLT has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of Hilton Worldwide in a research note on Thursday. They issued a “hold” rating for the company. Robert W. Baird lifted their target price on shares of Hilton Worldwide from $160.00 to $164.00 in a research note on Thursday, July 27th. SpectralCast reaffirmed a “maintains” rating on shares of Hilton Worldwide in a research note on Tuesday, June 27th. TD Cowen lifted their target price on shares of Hilton Worldwide from $148.00 to $164.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 12th. Finally, Sanford C. Bernstein lifted their target price on shares of Hilton Worldwide from $152.00 to $161.00 and gave the stock a “market perform” rating in a research note on Monday, August 14th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $156.29.

Check Out Our Latest Research Report on HLT

Hilton Worldwide Trading Up 1.0 %

NYSE:HLT opened at $151.39 on Friday. The firm has a market capitalization of $39.59 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 1.45 and a beta of 1.22. The firm’s fifty day simple moving average is $151.36 and its 200 day simple moving average is $146.10. Hilton Worldwide Holdings Inc. has a twelve month low of $116.59 and a twelve month high of $157.14.

Hilton Worldwide (NYSE:HLT – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.05. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Hilton Worldwide had a net margin of 13.23% and a negative return on equity of 128.71%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 EPS. On average, analysts predict that Hilton Worldwide Holdings Inc. will post 6.05 earnings per share for the current year.

Hilton Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, August 25th were given a $0.15 dividend. The ex-dividend date was Thursday, August 24th. This represents a $0.60 dividend on an annualized basis and a yield of 0.40%. Hilton Worldwide’s payout ratio is currently 12.53%.

Insider Buying and Selling at Hilton Worldwide

In other Hilton Worldwide news, insider Kristin Ann Campbell sold 8,286 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $154.03, for a total value of $1,276,292.58. Following the completion of the transaction, the insider now directly owns 230,097 shares of the company’s stock, valued at approximately $35,441,840.91. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.40% of the stock is currently owned by corporate insiders.

Hilton Worldwide Company Profile

(Free Report)

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 premium economy hotel under the Spark by Hilton brand, as well as Hilton Grand Vacations.