Bank of New York Mellon Corp Invests $56.41 Million in Hyatt Hotels Corporation $H

Key Points

• Bank of New York Mellon acquired 291,004 Hyatt Hotels shares worth approximately $56.4 million, representing a 0.31% stake. Institutional investors and hedge funds collectively own 73.54% of Hyatt’s stock.
• Hyatt’s latest quarterly results exceeded expectations, with EPS of $1.12 versus the $0.91 consensus and revenue of $1.83 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $196.64.
• Hyatt declared a quarterly dividend of $0.15 per share, equal to $0.60 annually and a 0.3% yield. Meanwhile, insiders sold 14,004 shares worth approximately $2.6 million during the last quarter.

Bank of New York Mellon Corp acquired a new stake in shares of Hyatt Hotels Corporation (NYSE:H - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 291,004 shares of the company's stock, valued at approximately $56,408,000. Bank of New York Mellon Corp owned 0.31% of Hyatt Hotels as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of H. Goldman Sachs Group Inc. lifted its stake in shares of Hyatt Hotels by 7.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 426,359 shares of the company's stock worth $52,229,000 after purchasing an additional 29,976 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Hyatt Hotels by 8.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,311 shares of the company's stock worth $17,556,000 after buying an additional 11,252 shares during the period. Norges Bank acquired a new stake in Hyatt Hotels in the 2nd quarter worth about $616,000. Daiwa Securities Group Inc. grew its holdings in Hyatt Hotels by 394.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 17,312 shares of the company's stock valued at $2,418,000 after buying an additional 13,812 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Hyatt Hotels by 61.0% during the 2nd quarter. Sei Investments Co. now owns 68,803 shares of the company's stock valued at $9,609,000 after acquiring an additional 26,073 shares during the last quarter. Institutional investors and hedge funds own 73.54% of the company's stock.

Hyatt Hotels Trading Up 0.2%

NYSE H opened at $177.34 on Thursday. The company has a market capitalization of $16.71 billion, a price-to-earnings ratio of 216.27 and a beta of 1.33. 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 12 month low of $134.18 and a 12 month high of $206.86. The company's fifty day moving average price is $186.14 and its two-hundred day moving average price is $172.65.

Hyatt Hotels (NYSE:H - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. The company's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 EPS. As a group, research analysts predict that Hyatt Hotels Corporation will post 3.54 earnings per share for the current fiscal year.

Hyatt Hotels Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, August 27th. Hyatt Hotels's dividend payout ratio (DPR) is currently 73.17%.

Insiders Place Their Bets

In related news, Director Susan D. Kronick sold 1,700 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $179.88, for a total transaction of $305,796.00. Following the sale, the director directly owned 29,525 shares of the company's stock, valued at approximately $5,310,957. This represents a 5.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $188.00, for a total value of $392,356.00. Following the transaction, the insider owned 16,638 shares in the company, valued at $3,127,944. This trade represents a 11.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,004 shares of company stock valued at $2,595,040 in the last quarter. Insiders own 23.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on H shares. HSBC upgraded shares of Hyatt Hotels from a "hold" rating to a "buy" rating and set a $212.00 price target on the stock in a report on Thursday, June 4th. JPMorgan Chase & Co. cut their target price on Hyatt Hotels from $215.00 to $209.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. Weiss Ratings reissued a "hold (c-)" rating on shares of Hyatt Hotels in a research report on Wednesday, June 24th. Sanford C. Bernstein upped their price target on Hyatt Hotels from $186.00 to $202.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded Hyatt Hotels from a "sell" rating to a "hold" rating in a report on Saturday, May 23rd. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $196.64.

About Hyatt Hotels

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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