Hilton Worldwide (NYSE:HLT) Sets New 1-Year High on Analyst Upgrade

Hilton Worldwide Holdings Inc. (NYSE:HLT) reached a new 52-week high during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $232.00 to $240.00. Wells Fargo & Company currently has an equal weight rating on the stock. Hilton Worldwide traded as high as $259.21 and last traded at $258.85, with a volume of 1176587 shares changing hands. The stock had previously closed at $256.27.

HLT has been the subject of several other reports. Evercore ISI lifted their price objective on Hilton Worldwide from $210.00 to $240.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Jefferies Financial Group boosted their price objective on shares of Hilton Worldwide from $237.00 to $277.00 and gave the stock a “hold” rating in a research report on Thursday, January 2nd. Robert W. Baird upped their price target on shares of Hilton Worldwide from $235.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of Hilton Worldwide from $247.00 to $277.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Mizuho increased their target price on Hilton Worldwide from $237.00 to $243.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $238.71.

Insider Activity at Hilton Worldwide

In related news, insider Michael W. Duffy sold 23,366 shares of Hilton Worldwide stock in a transaction 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 transaction, the insider now owns 22,833 shares in the company, valued at approximately $5,746,152.78. The trade was a 50.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its holdings in Hilton Worldwide by 3.6% in the 2nd quarter. Cetera Investment Advisers now owns 34,888 shares of the company’s stock worth $7,613,000 after acquiring an additional 1,216 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Hilton Worldwide during the second quarter worth about $1,210,000. Czech National Bank boosted its stake in shares of Hilton Worldwide by 5.4% during the 3rd quarter. Czech National Bank now owns 50,199 shares of the company’s stock valued at $11,571,000 after buying an additional 2,550 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Hilton Worldwide by 11.5% during the third quarter. Handelsbanken Fonder AB now owns 82,901 shares of the company’s stock worth $19,109,000 after buying an additional 8,549 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Hilton Worldwide by 43.3% in the third quarter. GAMMA Investing LLC now owns 3,706 shares of the company’s stock worth $854,000 after buying an additional 1,120 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Hilton Worldwide Price Performance

The stock has a market capitalization of $63.10 billion, a price-to-earnings ratio of 55.55, a PEG ratio of 2.67 and a beta of 1.29. The firm’s fifty day moving average is $249.66 and its 200-day moving average is $234.83.

Hilton Worldwide announced that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.