Bank of America Corp DE Has $102.16 Million Holdings in Hyatt Hotels Corporation $H

Key Points

• Bank of America reduced its Hyatt Hotels stake by 13.2% in the first quarter, selling 107,734 shares and retaining 710,474 shares valued at approximately $102.2 million. Institutional investors collectively own 73.54% of Hyatt.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $196.93. Recent target changes ranged from $180 to $218.
• Hyatt exceeded quarterly expectations, reporting $1.12 in earnings per share versus the $0.91 consensus and $1.83 billion in revenue. The company also declared a quarterly dividend of $0.15 per share, equivalent to a 0.3% annualized yield.

Bank of America Corp DE lessened its stake in shares of Hyatt Hotels Corporation (NYSE:H - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 710,474 shares of the company's stock after selling 107,734 shares during the period. Bank of America Corp DE owned 0.75% of Hyatt Hotels worth $102,159,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Veritas Asset Management LLP lifted its position in Hyatt Hotels by 827.9% in the fourth quarter. Veritas Asset Management LLP now owns 1,900,417 shares of the company's stock worth $304,675,000 after purchasing an additional 1,695,616 shares during the period. Wellington Management Group LLP raised its stake in shares of Hyatt Hotels by 48.0% in the fourth quarter. Wellington Management Group LLP now owns 4,676,116 shares of the company's stock valued at $749,675,000 after acquiring an additional 1,516,554 shares during the last quarter. Par Capital Management Inc. boosted its holdings in shares of Hyatt Hotels by 551.8% in the 2nd quarter. Par Capital Management Inc. now owns 371,261 shares of the company's stock worth $51,847,000 after acquiring an additional 314,300 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Hyatt Hotels by 342.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 383,707 shares of the company's stock worth $61,517,000 after acquiring an additional 296,931 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in Hyatt Hotels by 411.4% during the 4th quarter. Voloridge Investment Management LLC now owns 344,845 shares of the company's stock valued at $55,286,000 after purchasing an additional 277,410 shares in the last quarter. Institutional investors own 73.54% of the company's stock.

Analysts Set New Price Targets

H has been the subject of a number of research reports. Robert W. Baird lowered their target price on Hyatt Hotels from $198.00 to $191.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Susquehanna dropped their target price on shares of Hyatt Hotels from $185.00 to $180.00 and set a "neutral" rating for the company in a research note on Monday, May 4th. Barclays reduced their target price on shares of Hyatt Hotels from $220.00 to $201.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. Morgan Stanley upped their price objective on Hyatt Hotels from $208.00 to $218.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Finally, Truist Financial lifted their target price on Hyatt Hotels from $181.00 to $187.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Hyatt Hotels currently has a consensus rating of "Moderate Buy" and a consensus price target of $196.93.

Insider Buying and Selling

In other Hyatt Hotels news, Director Susan D. Kronick sold 1,119 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $174.51, for a total transaction of $195,276.69. Following the transaction, the director owned 31,225 shares of the company's stock, valued at $5,449,074.75. The trade was a 3.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Udell sold 2,087 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $188.00, for a total transaction of $392,356.00. Following the completion of the sale, the insider directly owned 16,638 shares of the company's stock, valued at $3,127,944. This represents a 11.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 23,224 shares of company stock worth $4,173,605. 23.60% of the stock is currently owned by company insiders.

Hyatt Hotels Stock Performance

Shares of H stock opened at $177.67 on Friday. The stock has a market cap of $16.73 billion, a PE ratio of 216.67 and a beta of 1.33. The stock has a 50-day moving average of $189.98 and a 200-day moving average of $170.92. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.62 and a quick ratio of 0.62. Hyatt Hotels Corporation has a one year low of $134.00 and a one year high of $206.86.

Hyatt Hotels (NYSE:H - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.21. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.82 billion. Hyatt Hotels had a net margin of 1.10% and a return on equity of 7.27%. Hyatt Hotels's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 EPS. As a group, sell-side analysts expect that Hyatt Hotels Corporation will post 3.58 earnings per share for the current year.

Hyatt Hotels Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $0.60 annualized dividend and a yield of 0.3%. Hyatt Hotels's payout ratio is 73.17%.

Hyatt Hotels Company Profile

Hyatt Hotels Corporation NYSE: H is a global hospitality company that develops, owns, manages and franchises luxury and business hotels, resorts and vacation properties. Its portfolio spans a range of price points and styles under brands such as Park Hyatt, Grand Hyatt, Andaz, Hyatt Regency, Hyatt Centric, Hyatt Place, Hyatt House, Thompson Hotels, Alila and Destination by Hyatt. In addition to accommodations, the company provides meeting and event spaces, food and beverage outlets, spa and wellness centers, and a variety of guest services designed to cater to both leisure and business travelers.

Hyatt's business model combines property ownership, management contracts and third-party franchising.

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