Hilton Worldwide (HLT) Lowered to “Equal Weight” at Morgan Stanley
Morgan Stanley lowered shares of Hilton Worldwide (NYSE:HLT) from an overweight rating to an equal weight rating in a research note released on Wednesday, Marketbeat Ratings reports. Morgan Stanley currently has $84.00 price objective on the stock.
Other equities analysts have also issued reports about the company. B. Riley restated a neutral rating on shares of Hilton Worldwide in a research report on Wednesday, November 1st. Robert W. Baird restated a buy rating and set a $78.00 price target on shares of Hilton Worldwide in a research report on Friday, October 27th. Telsey Advisory Group raised their price target on Hilton Worldwide from $67.00 to $71.00 and gave the stock a market perform rating in a research report on Friday, October 27th. Goldman Sachs Group lowered Hilton Worldwide from a conviction-buy rating to a buy rating and set a $80.00 price target on the stock. in a research report on Tuesday, November 14th. Finally, Royal Bank of Canada restated a buy rating and set a $70.00 price target on shares of Hilton Worldwide in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Hilton Worldwide presently has an average rating of Buy and an average target price of $74.65.
Hilton Worldwide (HLT) traded up $1.54 on Wednesday, reaching $85.49. The company had a trading volume of 2,204,215 shares, compared to its average volume of 1,906,169. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 4.53. Hilton Worldwide has a fifty-two week low of $55.79 and a fifty-two week high of $86.05. The company has a market cap of $26,885.51, a price-to-earnings ratio of 777.18, a price-to-earnings-growth ratio of 6.52 and a beta of 1.33.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, November 17th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.70%. Hilton Worldwide’s dividend payout ratio is currently 545.45%.
Hilton Worldwide announced that its Board of Directors has authorized a share buyback program on Thursday, November 16th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Hilton Worldwide by 46.3% in the 2nd quarter. Vanguard Group Inc. now owns 13,600,970 shares of the company’s stock worth $841,220,000 after buying an additional 4,302,706 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Hilton Worldwide by 19.0% during the third quarter. JPMorgan Chase & Co. now owns 12,725,143 shares of the company’s stock valued at $882,616,000 after purchasing an additional 2,035,463 shares in the last quarter. BlackRock Inc. boosted its position in shares of Hilton Worldwide by 13.7% during the second quarter. BlackRock Inc. now owns 12,048,689 shares of the company’s stock valued at $745,212,000 after purchasing an additional 1,448,078 shares in the last quarter. State Street Corp boosted its position in shares of Hilton Worldwide by 141.6% during the second quarter. State Street Corp now owns 7,865,113 shares of the company’s stock valued at $486,454,000 after purchasing an additional 4,609,697 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Hilton Worldwide by 29.0% during the third quarter. Principal Financial Group Inc. now owns 4,443,609 shares of the company’s stock valued at $308,609,000 after purchasing an additional 999,899 shares in the last quarter.
About Hilton Worldwide
Hilton Worldwide Holdings Inc is a hospitality company. The Company is engaged in owning, leasing, managing and franchising hotels and resorts. The Company’s segments include ownership, and management and franchise. Its global portfolio of owned and leased properties includes a range of hotels in gateway cities, such as New York City, London, San Francisco, Chicago, Sao Paolo and Tokyo.
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