Fred Alger Management LLC Sells 884 Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT)

Fred Alger Management LLC reduced its stake in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,599 shares of the company’s stock after selling 884 shares during the quarter. Fred Alger Management LLC’s holdings in Hilton Worldwide were worth $9,077,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky raised its holdings in Hilton Worldwide by 66.7% in the 1st quarter. Independence Bank of Kentucky now owns 125 shares of the company’s stock valued at $27,000 after acquiring an additional 50 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Hilton Worldwide by 48.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 171 shares of the company’s stock worth $31,000 after acquiring an additional 56 shares during the period. EdgeRock Capital LLC bought a new stake in Hilton Worldwide in the second quarter valued at about $33,000. Pinnacle Bancorp Inc. bought a new position in Hilton Worldwide during the first quarter worth about $34,000. Finally, Manchester Capital Management LLC boosted its holdings in Hilton Worldwide by 247.8% during the first quarter. Manchester Capital Management LLC now owns 160 shares of the company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. 95.90% of the stock is owned by institutional investors.

Insider Activity

In other Hilton Worldwide news, insider Laura Fuentes sold 4,919 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $217.00, for a total value of $1,067,423.00. Following the sale, the insider now owns 15,949 shares of the company’s stock, valued at approximately $3,460,933. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays dropped their target price on Hilton Worldwide from $228.00 to $224.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Susquehanna began coverage on shares of Hilton Worldwide in a research report on Friday, June 21st. They set a “neutral” rating and a $215.00 price target on the stock. Macquarie raised their price objective on shares of Hilton Worldwide from $205.00 to $208.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Robert W. Baird decreased their price target on shares of Hilton Worldwide from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Hilton Worldwide from $200.00 to $216.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $213.95.

Hilton Worldwide Price Performance

NYSE HLT opened at $227.41 on Thursday. Hilton Worldwide Holdings Inc. has a 1 year low of $146.35 and a 1 year high of $229.03. The company has a fifty day moving average price of $214.97 and a 200-day moving average price of $210.32. The firm has a market cap of $56.04 billion, a price-to-earnings ratio of 49.44, a PEG ratio of 2.46 and a beta of 1.31.

Hilton Worldwide (NYSE:HLT) last issued its earnings results on Wednesday, August 7th. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Hilton Worldwide had a net margin of 11.20% and a negative return on equity of 69.65%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.63 EPS. On average, research analysts anticipate that Hilton Worldwide Holdings Inc. will post 7.05 EPS for the current fiscal year.

Hilton Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 23rd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.26%. Hilton Worldwide’s payout ratio is 13.04%.

Hilton Worldwide Profile

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.