Allspring Global Investments Holdings LLC Decreases Holdings in Hyatt Hotels Corporation $H

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Hyatt Hotels by 6.7%, holding about 199,071 shares worth approximately $28.94 million as of their latest SEC filing.
• Hyatt Hotels has received multiple analyst upgrades, with Raymond James Financial rating it as a "strong-buy" with a target price of $165.00, contributing to a consensus rating of "Moderate Buy" and a target price of $152.68.
• The company reported earnings of $0.68 per share for the most recent quarter, surpassing analyst estimates, alongside announcing a quarterly dividend of $0.15 per share.

Allspring Global Investments Holdings LLC lessened its stake in shares of Hyatt Hotels Corporation (NYSE:H - Free Report) by 6.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 199,071 shares of the company's stock after selling 14,330 shares during the period. Allspring Global Investments Holdings LLC owned about 0.21% of Hyatt Hotels worth $28,943,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in H. Long Pond Capital LP purchased a new position in shares of Hyatt Hotels in the first quarter worth about $191,922,000. Principal Financial Group Inc. increased its stake in shares of Hyatt Hotels by 16.4% in the first quarter. Principal Financial Group Inc. now owns 3,135,774 shares of the company's stock worth $384,132,000 after purchasing an additional 441,417 shares in the last quarter. Nuveen LLC purchased a new position in shares of Hyatt Hotels in the first quarter worth about $36,229,000. Senator Investment Group LP purchased a new position in shares of Hyatt Hotels in the first quarter worth about $24,500,000. Finally, Bank of Nova Scotia increased its stake in shares of Hyatt Hotels by 9.3% in the first quarter. Bank of Nova Scotia now owns 1,877,447 shares of the company's stock worth $229,987,000 after purchasing an additional 160,461 shares in the last quarter. Hedge funds and other institutional investors own 73.54% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on H shares. Raymond James Financial upgraded shares of Hyatt Hotels from a "market perform" rating to a "strong-buy" rating and set a $165.00 target price for the company in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft upgraded shares of Hyatt Hotels from a "hold" rating to a "buy" rating in a research note on Monday, July 14th. Truist Financial boosted their price objective on shares of Hyatt Hotels from $140.00 to $159.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Robert W. Baird boosted their price objective on shares of Hyatt Hotels from $148.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hyatt Hotels in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $152.68.

Hyatt Hotels Trading Down 0.6%

Shares of Hyatt Hotels stock opened at $146.86 on Thursday. Hyatt Hotels Corporation has a 1 year low of $102.43 and a 1 year high of $168.20. The firm has a market cap of $14.02 billion, a PE ratio of 34.88, a PEG ratio of 2.32 and a beta of 1.41. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.70 and a quick ratio of 0.70. The company has a 50 day simple moving average of $142.78 and a two-hundred day simple moving average of $134.65.

Hyatt Hotels (NYSE:H - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. Hyatt Hotels had a net margin of 6.39% and a return on equity of 6.54%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the business posted $1.53 earnings per share. Analysts expect that Hyatt Hotels Corporation will post 3.05 earnings per share for the current fiscal year.

Hyatt Hotels Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 27th. This represents a $0.60 annualized dividend and a yield of 0.4%. Hyatt Hotels's payout ratio is presently 14.25%.

Insider Transactions at Hyatt Hotels

In other Hyatt Hotels news, insider David Udell sold 4,051 shares of Hyatt Hotels stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $145.00, for a total transaction of $587,395.00. Following the completion of the sale, the insider directly owned 16,756 shares in the company, valued at $2,429,620. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.70% of the stock is currently owned by insiders.

Hyatt Hotels Company Profile

Hyatt Hotels Corporation operates as a hospitality company in the United States and internationally. It operates through Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, EAME Management and Franchising, and Apple Leisure Group segments. The company manages, franchises, licenses, owns, and leases portfolio of properties, consisting of full-service hotels and resorts, select service hotels, and other properties, including timeshare, fractional, residential, vacation, and condominium units.

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