Cornerstone Advisors LLC Sells 9,702 Shares of Hilton Worldwide Holdings Inc. $HLT

Cornerstone Advisors LLC reduced its stake in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT) by 18.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,554 shares of the company’s stock after selling 9,702 shares during the quarter. Cornerstone Advisors LLC’s holdings in Hilton Worldwide were worth $13,855,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of Hilton Worldwide during the second quarter worth $10,140,000. Jefferies Financial Group Inc. bought a new position in Hilton Worldwide in the second quarter valued at about $1,909,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Hilton Worldwide by 2.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 200,598 shares of the company’s stock valued at $66,290,000 after acquiring an additional 4,700 shares during the last quarter. Nykredit A S acquired a new stake in Hilton Worldwide in the second quarter worth about $41,279,000. Finally, Two Sigma Securities LLC acquired a new stake in Hilton Worldwide in the second quarter worth about $4,775,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Hilton Worldwide Trading Up 0.1%

Hilton Worldwide stock opened at $373.09 on Friday. The firm has a market capitalization of $83.01 billion, a P/E ratio of 50.42, a PEG ratio of 2.95 and a beta of 1.08. Hilton Worldwide Holdings Inc. has a 1 year low of $263.95 and a 1 year high of $381.34. The business has a 50-day moving average of $335.02 and a 200-day moving average of $324.48.

Hilton Worldwide (NYSE:HLT) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.08. Hilton Worldwide had a negative return on equity of 33.78% and a net margin of 13.40%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same period in the prior year, the company earned $2.11 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts anticipate that Hilton Worldwide Holdings Inc. will post 9.17 EPS for the current fiscal year.

Hilton Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 1st. This represents a $0.60 annualized dividend and a yield of 0.2%. Hilton Worldwide’s dividend payout ratio is presently 8.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HLT shares. Wolfe Research began coverage on shares of Hilton Worldwide in a research report on Wednesday, September 2nd. They set a “peer perform” rating on the stock. Evercore raised shares of Hilton Worldwide from an “in-line” rating to an “outperform” rating in a research note on Tuesday, July 21st. TD Cowen upgraded shares of Hilton Worldwide to a “strong-buy” rating in a research report on Tuesday, September 8th. The Goldman Sachs Group reissued a “buy” rating and set a $390.00 price target on shares of Hilton Worldwide in a research note on Wednesday, October 28th. Finally, Truist Financial increased their price objective on shares of Hilton Worldwide from $312.00 to $316.00 and gave the company a “hold” rating in a report on Thursday, September 10th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Hilton Worldwide presently has a consensus rating of “Moderate Buy” and an average price target of $365.08.

Insider Buying and Selling at Hilton Worldwide

In related news, insider Kevin Jacobs sold 151,050 shares of the stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $356.19, for a total transaction of $53,802,499.50. Following the completion of the transaction, the insider owned 293,758 shares in the company, valued at approximately $104,633,662.02. This represents a 33.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Chris Carr sold 439 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $310.34, for a total transaction of $136,239.26. Following the completion of the transaction, the director directly owned 8,252 shares of the company’s stock, valued at approximately $2,560,925.68. This trade represents a 5.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 174,416 shares of company stock worth $61,985,662. Company insiders own 2.70% of the company’s stock.

About Hilton Worldwide

Hilton Worldwide Holdings Inc. is a global hospitality company that develops, manages, franchises and licenses hotels and resorts. Its portfolio serves a range of travelers, from luxury and leisure guests to business travelers and extended-stay customers. Hilton also operates a vacation ownership business through Hilton Grand Vacations under a long-term brand and licensing relationship. The company’s brands include Waldorf Astoria, Conrad, Hilton Hotels & Resorts, DoubleTree, Embassy Suites, Hilton Garden Inn, Hampton, Homewood Suites and Hilton Honors, its guest loyalty program.