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

Parnassus Investments LLC reduced its stake in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 281,521 shares of the company’s stock after selling 6,073 shares during the quarter. Parnassus Investments LLC owned 0.12% of Hilton Worldwide worth $64,891,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC increased its stake in shares of Hilton Worldwide by 2.1% in the third quarter. Signature Estate & Investment Advisors LLC now owns 2,029 shares of the company’s stock valued at $468,000 after buying an additional 42 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Hilton Worldwide by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,443 shares of the company’s stock worth $1,946,000 after acquiring an additional 44 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Hilton Worldwide by 4.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,169 shares of the company’s stock valued at $269,000 after acquiring an additional 46 shares in the last quarter. Graypoint LLC raised its stake in shares of Hilton Worldwide by 2.6% in the third quarter. Graypoint LLC now owns 1,869 shares of the company’s stock worth $431,000 after acquiring an additional 47 shares during the last quarter. Finally, Meadow Creek Wealth Advisors LLC lifted its position in shares of Hilton Worldwide by 4.2% during the third quarter. Meadow Creek Wealth Advisors LLC now owns 1,184 shares of the company’s stock worth $273,000 after purchasing an additional 48 shares in the last quarter. 95.90% of the stock is owned by institutional investors.

Hilton Worldwide Price Performance

NYSE HLT opened at $249.11 on Tuesday. Hilton Worldwide Holdings Inc. has a one year low of $165.25 and a one year high of $255.86. The firm has a market cap of $60.73 billion, a P/E ratio of 53.46, a P/E/G ratio of 3.13 and a beta of 1.30. The stock’s 50-day moving average is $234.25 and its 200-day moving average is $219.13.

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

Hilton Worldwide Announces Dividend

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

Hilton Worldwide declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 14th that authorizes the company to repurchase $3.50 billion in shares. This repurchase authorization authorizes the company to buy up to 5.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Macquarie upped their price objective on Hilton Worldwide from $205.00 to $208.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Evercore ISI upped their price target on Hilton Worldwide from $210.00 to $240.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Mizuho raised their price target on Hilton Worldwide from $237.00 to $243.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group initiated coverage on Hilton Worldwide in a report on Wednesday, September 18th. They set a “buy” rating and a $245.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on shares of 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. Eleven 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.com, Hilton Worldwide has an average rating of “Hold” and a consensus target price of $228.71.

Insider Transactions at Hilton Worldwide

In other news, insider Laura Fuentes sold 4,919 shares of the business’s stock in a transaction 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 sale, the insider now owns 15,949 shares of the company’s stock, valued at $3,460,933. The trade was a 23.57 % 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 Michael W. Duffy sold 14,357 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $235.73, for a total transaction of $3,384,375.61. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

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.