Hilton Worldwide (NYSE:HLT) Price Target Raised to $240.00 at Wells Fargo & Company

Hilton Worldwide (NYSE:HLT) had its price target increased by Wells Fargo & Company from $232.00 to $240.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group increased their target price on Hilton Worldwide from $247.00 to $277.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Melius cut Hilton Worldwide from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Jefferies Financial Group upped their target price on shares of Hilton Worldwide from $237.00 to $277.00 and gave the stock a “hold” rating in a report on Thursday, January 2nd. Bank of America lifted their price target on shares of Hilton Worldwide from $230.00 to $265.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Barclays upped their price objective on shares of Hilton Worldwide from $243.00 to $268.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Hilton Worldwide presently has a consensus rating of “Hold” and an average target price of $238.71.

Hilton Worldwide Stock Up 1.0 %

NYSE HLT opened at $258.85 on Tuesday. The stock has a market cap of $63.10 billion, a P/E ratio of 55.55, a PEG ratio of 2.67 and a beta of 1.29. Hilton Worldwide has a twelve month low of $186.83 and a twelve month high of $259.21. The company’s 50-day simple moving average is $249.66 and its 200 day simple moving average is $234.83.

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

Insiders Place Their Bets

In related news, insider Michael W. Duffy sold 23,366 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $251.66, for a total transaction of $5,880,287.56. Following the completion of the sale, the insider now directly owns 22,833 shares of the company’s stock, valued at $5,746,152.78. The trade was a 50.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Hilton Worldwide

A number of institutional investors have recently bought and sold shares of HLT. Principal Financial Group Inc. boosted its position in shares of Hilton Worldwide by 15.3% in the 3rd quarter. Principal Financial Group Inc. now owns 10,756,416 shares of the company’s stock worth $2,479,354,000 after purchasing an additional 1,429,537 shares during the last quarter. Jennison Associates LLC boosted its holdings in Hilton Worldwide by 33.2% during the third quarter. Jennison Associates LLC now owns 3,234,809 shares of the company’s stock worth $745,624,000 after buying an additional 806,029 shares during the last quarter. Stockbridge Partners LLC grew its position in shares of Hilton Worldwide by 63.6% during the 3rd quarter. Stockbridge Partners LLC now owns 1,544,399 shares of the company’s stock worth $355,984,000 after buying an additional 600,593 shares during the period. International Assets Investment Management LLC increased its stake in shares of Hilton Worldwide by 23,730.1% in the 3rd quarter. International Assets Investment Management LLC now owns 479,223 shares of the company’s stock valued at $1,104,610,000 after acquiring an additional 477,212 shares during the last quarter. Finally, FMR LLC raised its position in shares of Hilton Worldwide by 2.1% in the 3rd quarter. FMR LLC now owns 11,215,391 shares of the company’s stock valued at $2,585,148,000 after acquiring an additional 226,223 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Hilton Worldwide Company 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.