Covea Finance Grows Holdings in Hyatt Hotels Corporation (NYSE:H)

Covea Finance increased its position in shares of Hyatt Hotels Corporation (NYSE:H - Free Report) by 41.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,700 shares of the company's stock after buying an additional 5,200 shares during the quarter. Covea Finance's holdings in Hyatt Hotels were worth $2,168,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in H. Truist Financial Corp purchased a new position in Hyatt Hotels during the fourth quarter worth about $307,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Hyatt Hotels by 0.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,849,892 shares of the company's stock worth $447,376,000 after acquiring an additional 9,477 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Hyatt Hotels during the 4th quarter worth approximately $7,072,000. OFI Invest Asset Management purchased a new position in shares of Hyatt Hotels during the 4th quarter worth approximately $4,502,000. Finally, Bain Capital Public Equity LP increased its holdings in Hyatt Hotels by 13.5% in the 4th quarter. Bain Capital Public Equity LP now owns 37,644 shares of the company's stock valued at $5,909,000 after purchasing an additional 4,464 shares during the last quarter. 73.54% of the stock is currently owned by institutional investors and hedge funds.

Hyatt Hotels Stock Down 0.6%

NYSE H traded down $0.76 on Friday, hitting $131.77. 1,658,060 shares of the stock were exchanged, compared to its average volume of 727,868. Hyatt Hotels Corporation has a fifty-two week low of $102.43 and a fifty-two week high of $168.20. The company has a 50-day moving average price of $125.13 and a 200-day moving average price of $137.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The company has a market cap of $12.58 billion, a PE ratio of 17.11, a PEG ratio of 4.33 and a beta of 1.42.

Hyatt Hotels (NYSE:H - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.16. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.71 billion. Hyatt Hotels had a net margin of 11.94% and a return on equity of 8.98%. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Sell-side analysts anticipate that Hyatt Hotels Corporation will post 3.05 EPS for the current fiscal year.

Hyatt Hotels Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.46%. Hyatt Hotels's dividend payout ratio is currently 7.79%.

Insider Activity

In related news, major shareholder Hotels Corp Hyatt purchased 996,587 shares of Hyatt Hotels stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $13.50 per share, with a total value of $13,453,924.50. Following the completion of the transaction, the insider now directly owns 117,077,441 shares in the company, valued at approximately $1,580,545,453.50. The trade was a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Udell sold 3,891 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $134.03, for a total value of $521,510.73. Following the transaction, the insider now directly owns 16,756 shares in the company, valued at approximately $2,245,806.68. The trade was a 18.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 370,111 shares of company stock worth $49,140,816. 23.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Macquarie lowered their price target on Hyatt Hotels from $155.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Evercore ISI decreased their target price on Hyatt Hotels from $175.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Barclays raised their target price on Hyatt Hotels from $122.00 to $127.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Jefferies Financial Group cut their price target on shares of Hyatt Hotels from $161.00 to $120.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, Robert W. Baird increased their price target on shares of Hyatt Hotels from $142.00 to $146.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $149.72.

About Hyatt Hotels

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.