State of Michigan Retirement System Lowers Holdings in Hilton Worldwide Holdings Inc. (NYSE:HLT)

State of Michigan Retirement System cut its stake in Hilton Worldwide Holdings Inc. (NYSE:HLT) by 0.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 68,523 shares of the company’s stock after selling 600 shares during the period. State of Michigan Retirement System’s holdings in Hilton Worldwide were worth $14,952,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HLT. Rational Advisors LLC purchased a new stake in shares of Hilton Worldwide during the second quarter worth about $1,857,000. EFG Asset Management North America Corp. raised its position in shares of Hilton Worldwide by 10.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 15,935 shares of the company’s stock valued at $3,476,000 after purchasing an additional 1,513 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Hilton Worldwide by 3.6% during the 2nd quarter. Raymond James Trust N.A. now owns 3,702 shares of the company’s stock valued at $808,000 after buying an additional 127 shares during the last quarter. SeaTown Holdings Pte. Ltd. bought a new position in Hilton Worldwide in the 2nd quarter worth approximately $8,793,000. Finally, EdgeRock Capital LLC bought a new stake in Hilton Worldwide during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HLT shares. Robert W. Baird decreased their price target on Hilton Worldwide from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Barclays lowered their price objective on shares of Hilton Worldwide from $228.00 to $224.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Hilton Worldwide from $185.00 to $181.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Bank of America upped their target price on Hilton Worldwide from $225.00 to $230.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Truist Financial dropped their price target on Hilton Worldwide from $209.00 to $208.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $212.22.

Hilton Worldwide Price Performance

NYSE HLT opened at $215.20 on Tuesday. The firm has a market cap of $53.81 billion, a P/E ratio of 46.80, a price-to-earnings-growth ratio of 1.84 and a beta of 1.31. The stock’s 50-day moving average is $214.47 and its two-hundred day moving average is $207.63. Hilton Worldwide Holdings Inc. has a fifty-two week low of $146.00 and a fifty-two week high of $229.03.

Hilton Worldwide (NYSE:HLT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.90 billion. Hilton Worldwide had a net margin of 11.41% and a negative return on equity of 81.29%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. On average, equities analysts expect that Hilton Worldwide Holdings Inc. will post 7.07 EPS for the current year.

Hilton Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 23rd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, August 23rd. Hilton Worldwide’s dividend payout ratio (DPR) is presently 13.04%.

About Hilton Worldwide

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.