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

Hilton Worldwide (NYSE:HLT) had its price target lifted by analysts at Wells Fargo & Company from $232.00 to $240.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 6.50% from the stock’s previous close.

HLT has been the subject of several other research reports. Melius Research reissued a “hold” rating on shares of Hilton Worldwide in a research report on Monday, October 21st. Evercore ISI lifted their price target on shares of Hilton Worldwide from $210.00 to $240.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their target price on shares of Hilton Worldwide from $219.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Bank of America increased their price target on shares of Hilton Worldwide from $230.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Truist Financial upped their target price on shares of Hilton Worldwide from $208.00 to $220.00 and gave the company a “hold” rating in a report 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 company’s stock. Based on data from MarketBeat, Hilton Worldwide has an average rating of “Hold” and a consensus target price of $238.71.

Hilton Worldwide Trading Up 0.2 %

NYSE:HLT opened at $256.68 on Tuesday. Hilton Worldwide has a 1-year low of $186.83 and a 1-year high of $259.01. The business’s 50-day moving average price is $249.60 and its two-hundred day moving average price is $234.56. The firm has a market capitalization of $62.57 billion, a price-to-earnings ratio of 55.08, a PEG ratio of 2.67 and a beta of 1.29.

Hilton Worldwide announced that its Board of Directors has initiated a share buyback program on Thursday, November 14th that authorizes the company to buyback $3.50 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Michael W. Duffy sold 23,366 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $251.66, for a total transaction of $5,880,287.56. Following the sale, the insider now directly owns 22,833 shares of the company’s stock, valued at approximately $5,746,152.78. This represents a 50.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Hilton Worldwide

Large investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Hilton Worldwide in the 3rd quarter valued at $765,000. Franklin Resources Inc. grew its position in Hilton Worldwide by 3.1% in the third quarter. Franklin Resources Inc. now owns 4,090,950 shares of the company’s stock valued at $1,012,069,000 after acquiring an additional 121,900 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Hilton Worldwide in the third quarter worth about $38,000. Fiduciary Alliance LLC acquired a new stake in shares of Hilton Worldwide in the 4th quarter valued at approximately $1,246,000. Finally, Chartwell Investment Partners LLC lifted its stake in Hilton Worldwide by 35.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 28,756 shares of the company’s stock valued at $6,628,000 after purchasing an additional 7,583 shares during the last quarter. 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.