228,561 Hyatt Hotels Corporation $H Shares Purchased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Hyatt Hotels stake by 228,561 shares in the third quarter, a 1,178.6% increase, bringing its holdings to 247,954 shares valued at about $39.3 million.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $200.62; 11 analysts rated the stock Buy and six rated it Hold.
• Hyatt reported quarterly EPS of $1.27, beating the $0.76 consensus, while revenue of $1.74 billion came in slightly below estimates and declined 2.4% year over year.

Pictet Asset Management Holding SA grew its position in Hyatt Hotels Corporation (NYSE:H - Free Report) by 1,178.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 247,954 shares of the company's stock after purchasing an additional 228,561 shares during the period. Pictet Asset Management Holding SA owned approximately 0.26% of Hyatt Hotels worth $39,316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in Hyatt Hotels in the second quarter valued at approximately $56,408,000. Factory Mutual Insurance Co. boosted its stake in shares of Hyatt Hotels by 98.8% during the 3rd quarter. Factory Mutual Insurance Co. now owns 239,598 shares of the company's stock worth $37,991,000 after acquiring an additional 119,050 shares during the period. Amundi boosted its stake in shares of Hyatt Hotels by 70.9% during the 1st quarter. Amundi now owns 189,272 shares of the company's stock worth $27,215,000 after acquiring an additional 78,544 shares during the period. Conversant Capital LLC acquired a new position in shares of Hyatt Hotels during the 1st quarter worth approximately $8,627,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Hyatt Hotels by 19.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 296,133 shares of the company's stock worth $42,608,000 after acquiring an additional 48,002 shares during the last quarter. 73.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

H has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of Hyatt Hotels from $184.00 to $189.00 and gave the stock an "equal weight" rating in a research report on Monday, October 19th. JPMorgan Chase & Co. dropped their price objective on shares of Hyatt Hotels from $207.00 to $206.00 and set an "overweight" rating on the stock in a research report on Friday, October 30th. Truist Financial raised their target price on shares of Hyatt Hotels from $187.00 to $198.00 and gave the stock a "buy" rating in a research note on Thursday, September 10th. Susquehanna reduced their target price on shares of Hyatt Hotels from $185.00 to $180.00 and set a "neutral" rating for the company in a report on Tuesday, October 13th. Finally, Morgan Stanley upped their price target on shares of Hyatt Hotels from $211.00 to $224.00 and gave the company an "overweight" rating in a research note on Thursday, October 22nd. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $200.62.

Insider Buying and Selling at Hyatt Hotels

In other Hyatt Hotels news, Director Susan D. Kronick sold 1,700 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $179.88, for a total value of $305,796.00. Following the completion of the transaction, the director directly owned 29,525 shares in the company, valued at approximately $5,310,957. This trade represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amar Lalvani sold 1,364 shares of the business's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $163.06, for a total value of $222,413.84. Following the sale, the insider owned 4,894 shares in the company, valued at approximately $798,015.64. This trade represents a 21.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 23.60% of the stock is currently owned by corporate insiders.

Hyatt Hotels Price Performance

Shares of Hyatt Hotels stock opened at $191.20 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $17.86 billion, a price-to-earnings ratio of 99.07, a price-to-earnings-growth ratio of 1.46 and a beta of 1.37. Hyatt Hotels Corporation has a twelve month low of $137.53 and a twelve month high of $206.86. The company has a 50-day simple moving average of $167.38 and a two-hundred day simple moving average of $170.55.

Hyatt Hotels (NYSE:H - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.51. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Hyatt Hotels had a net margin of 2.62% and a return on equity of 11.63%. The firm's quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) earnings per share. Analysts forecast that Hyatt Hotels Corporation will post 3.76 EPS for the current year.

Hyatt Hotels Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Monday, November 23rd will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, November 23rd. Hyatt Hotels's payout ratio is presently 31.09%.

About Hyatt Hotels

Hyatt Hotels Corporation is a global hospitality company that develops, owns, leases, manages and franchises hotels, resorts and other lodging properties. Its portfolio includes luxury, lifestyle, full-service, select-service and all-inclusive brands, including Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt Place, Andaz, Thompson Hotels and the Inclusive Collection. Hyatt properties serve guests across the Americas, Europe, Asia Pacific, the Middle East and Africa. In addition to accommodations, the company's offerings include dining, wellness, meetings and events, residential properties and vacation ownership.

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