CIBC Asset Management Inc trimmed its stake in Hilton Hotels Co. (NYSE:HLT) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,670 shares of the company’s stock after selling 753 shares during the period. CIBC Asset Management Inc’s holdings in Hilton Hotels were worth $2,133,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in Hilton Hotels during the first quarter valued at approximately $26,000. Flagship Harbor Advisors LLC grew its position in Hilton Hotels by 100.4% during the fourth quarter. Flagship Harbor Advisors LLC now owns 465 shares of the company’s stock valued at $33,000 after acquiring an additional 233 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Hilton Hotels by 3,751.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,470,853 shares of the company’s stock valued at $34,000 after acquiring an additional 2,406,698 shares during the last quarter. Lindbrook Capital LLC bought a new position in Hilton Hotels during the fourth quarter valued at approximately $37,000. Finally, Liberty Wealth Management LLC bought a new position in Hilton Hotels during the first quarter valued at approximately $37,000. Institutional investors own 96.59% of the company’s stock.
Shares of Hilton Hotels stock opened at $92.93 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 78.08. Hilton Hotels Co. has a 52-week low of $63.76 and a 52-week high of $94.64. The company has a market capitalization of $27.05 billion, a PE ratio of 30.37, a PEG ratio of 2.75 and a beta of 1.18.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 17th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, May 16th. Hilton Hotels’s dividend payout ratio is 21.51%.
In other news, insider Ian Russell Carter sold 21,700 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $92.48, for a total value of $2,006,816.00. Following the transaction, the insider now owns 594,459 shares in the company, valued at $54,975,568.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.
A number of research analysts have commented on the stock. Wells Fargo & Co cut shares of Hilton Hotels from an “outperform” rating to a “market perform” rating and increased their price target for the company from $88.00 to $90.00 in a research report on Wednesday, April 24th. Royal Bank of Canada increased their price target on shares of Hilton Hotels from $84.00 to $93.00 and gave the company an “outperform” rating in a research report on Tuesday, February 19th. Zacks Investment Research cut shares of Hilton Hotels from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Berenberg Bank cut shares of Hilton Hotels from a “buy” rating to a “hold” rating and increased their price target for the company from $83.00 to $94.00 in a research report on Monday, May 13th. Finally, ValuEngine upgraded shares of Hilton Hotels from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $90.84.
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About Hilton Hotels
Hilton Worldwide Holdings Inc, a hospitality company, owns, leases, manages, develops, and franchises 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 to franchisees. It operates hotels under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Hilton Hotels & Resorts, Curio Collection by Hilton, DoubleTree by Hilton, Tapestry Collection by Hilton, Embassy Suites by Hilton, Motto by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton, Hilton Grand Vacations, and Signia Hilton brands.
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