Sterneck Capital Management LLC Makes New Investment in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Sterneck Capital Management LLC purchased a new stake in Hilton Worldwide Holdings Inc. (NYSE:HLT) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 987 shares of the company’s stock, valued at approximately $244,000.

Several other large investors have also made changes to their positions in HLT. FMR LLC increased its position in Hilton Worldwide by 2.1% in the 3rd quarter. FMR LLC now owns 11,215,391 shares of the company’s stock worth $2,585,148,000 after buying an additional 226,223 shares during the period. Principal Financial Group Inc. increased its position in Hilton Worldwide by 15.3% during the third quarter. Principal Financial Group Inc. now owns 10,756,416 shares of the company’s stock worth $2,479,354,000 after acquiring an additional 1,429,537 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Hilton Worldwide by 36.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,754,647 shares of the company’s stock valued at $1,037,464,000 after purchasing an additional 1,282,676 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Hilton Worldwide by 3.1% in the 3rd quarter. Franklin Resources Inc. now owns 4,090,950 shares of the company’s stock valued at $1,012,069,000 after purchasing an additional 121,900 shares during the period. Finally, Jennison Associates LLC grew its position in Hilton Worldwide by 33.2% in the 3rd quarter. Jennison Associates LLC now owns 3,234,809 shares of the company’s stock worth $745,624,000 after purchasing an additional 806,029 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Hilton Worldwide Stock Performance

Hilton Worldwide stock opened at $241.21 on Wednesday. Hilton Worldwide Holdings Inc. has a 52 week low of $179.64 and a 52 week high of $259.01. The firm has a market cap of $58.80 billion, a P/E ratio of 51.76, a P/E/G ratio of 3.18 and a beta of 1.30. The business’s fifty day moving average is $248.87 and its two-hundred day moving average is $230.70.

Hilton Worldwide (NYSE:HLT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.07. Hilton Worldwide had a net margin of 10.70% and a negative return on equity of 60.85%. The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the company posted $1.67 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Hilton Worldwide Holdings Inc. will post 7 earnings per share for the current year.

Hilton Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.25%. The ex-dividend date was Friday, November 15th. Hilton Worldwide’s dividend payout ratio is 12.88%.

Hilton Worldwide announced that its Board of Directors has approved a stock repurchase program on Thursday, November 14th that allows the company to buyback $3.50 billion in shares. This buyback authorization allows the company to buy up to 5.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HLT. Wells Fargo & Company lowered their price target on Hilton Worldwide from $237.00 to $232.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on Hilton Worldwide from $219.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. The Goldman Sachs Group boosted their price target on shares of Hilton Worldwide from $247.00 to $277.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Truist Financial raised their price objective on shares of Hilton Worldwide from $208.00 to $220.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Finally, TD Cowen lowered their target price on shares of Hilton Worldwide from $265.00 to $256.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $238.24.

Insider Buying and Selling at Hilton Worldwide

In related news, insider Michael W. Duffy sold 23,366 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $251.66, for a total value of $5,880,287.56. Following the transaction, the insider now owns 22,833 shares in the company, valued at $5,746,152.78. This trade represents a 50.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.

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.