Parnassus Investments LLC Has $64.89 Million Holdings in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Parnassus Investments LLC trimmed its position in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 281,521 shares of the company’s stock after selling 6,073 shares during the period. Parnassus Investments LLC’s holdings in Hilton Worldwide were worth $64,891,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings 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 valued at $2,479,354,000 after purchasing an additional 1,429,537 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Hilton Worldwide by 36.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,754,647 shares of the company’s stock valued at $1,037,464,000 after buying an additional 1,282,676 shares during the period. Capital World Investors raised its stake in Hilton Worldwide by 66.3% in the first quarter. Capital World Investors now owns 3,127,600 shares of the company’s stock valued at $667,148,000 after buying an additional 1,246,662 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Hilton Worldwide by 7.7% in the second quarter. Ameriprise Financial Inc. now owns 2,817,770 shares of the company’s stock valued at $614,841,000 after buying an additional 200,329 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Hilton Worldwide by 1.2% during the 2nd quarter. TD Asset Management Inc now owns 2,158,468 shares of the company’s stock worth $470,978,000 after acquiring an additional 26,075 shares during the last quarter. 95.90% of the stock is owned by institutional investors.

Hilton Worldwide Stock Performance

Shares of HLT stock opened at $249.11 on Tuesday. Hilton Worldwide Holdings Inc. has a fifty-two week low of $165.25 and a fifty-two week high of $255.86. The company has a market cap of $60.73 billion, a PE ratio of 53.46, a P/E/G ratio of 3.13 and a beta of 1.30. The stock’s fifty day moving average price is $234.25 and its two-hundred day moving average price is $219.13.

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

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

Hilton Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, November 15th. Hilton Worldwide’s payout ratio is 12.88%.

Insider Buying and Selling at Hilton Worldwide

In other news, insider Michael W. Duffy sold 14,357 shares of Hilton Worldwide stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $235.73, for a total transaction of $3,384,375.61. Following the sale, the insider now directly owns 22,833 shares of the company’s stock, valued at approximately $5,382,423.09. This trade represents a 38.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Laura Fuentes sold 4,919 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 15,949 shares of the company’s stock, valued at $3,460,933. This represents a 23.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HLT shares. TD Cowen cut their target price on shares of Hilton Worldwide from $265.00 to $256.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Barclays lowered their target price on Hilton Worldwide from $244.00 to $243.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on Hilton Worldwide from $185.00 to $181.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Melius Research reissued a “hold” rating on shares of Hilton Worldwide in a research report on Monday, October 21st. Finally, Macquarie raised their price target on shares of Hilton Worldwide from $205.00 to $208.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $228.71.

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.