NewEdge Wealth LLC Invests $2.23 Million in Hyatt Hotels Corporation $H

Key Points

• NewEdge Wealth purchased 20,194 Hyatt Hotels shares worth approximately $2.23 million in the second quarter. Institutional investors and hedge funds collectively own 73.54% of Hyatt’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $196.64; nine analysts rate the stock Buy and six rate it Hold.
• Hyatt exceeded quarterly earnings expectations, reporting $1.12 in earnings per share versus a $0.91 consensus estimate 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.

NewEdge Wealth LLC bought a new stake in Hyatt Hotels Corporation (NYSE:H - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,194 shares of the company's stock, valued at approximately $2,227,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Hyatt Hotels by 48.0% during the 4th quarter. Wellington Management Group LLP now owns 4,676,116 shares of the company's stock worth $749,675,000 after purchasing an additional 1,516,554 shares during the period. BlackRock Inc. acquired a new position in Hyatt Hotels during the 2nd quarter worth approximately $249,931,000. Veritas Asset Management LLP increased its position in shares of Hyatt Hotels by 827.9% in the 4th quarter. Veritas Asset Management LLP now owns 1,900,417 shares of the company's stock valued at $304,675,000 after purchasing an additional 1,695,616 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of Hyatt Hotels by 2.8% in the 4th quarter. Bank of Nova Scotia now owns 1,605,243 shares of the company's stock valued at $257,352,000 after purchasing an additional 43,733 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Hyatt Hotels by 15.8% in the 3rd quarter. Bank of America Corp DE now owns 1,421,926 shares of the company's stock valued at $201,814,000 after purchasing an additional 193,530 shares in the last quarter. 73.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on H. HSBC raised Hyatt Hotels from a "hold" rating to a "buy" rating and set a $212.00 target price on the stock in a report on Thursday, June 4th. JPMorgan Chase & Co. lowered their price objective on Hyatt Hotels from $215.00 to $209.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Hyatt Hotels in a report on Wednesday, June 24th. Truist Financial boosted their target price on Hyatt Hotels from $181.00 to $187.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company upped their price target on Hyatt Hotels from $182.00 to $186.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $196.64.

Hyatt Hotels Stock Performance

Shares of H stock opened at $179.28 on Friday. The company has a market cap of $16.90 billion, a price-to-earnings ratio of 218.64 and a beta of 1.33. The stock has a 50 day simple moving average of $187.80 and a 200-day simple moving average of $172.07. Hyatt Hotels Corporation has a 12-month low of $134.18 and a 12-month high of $206.86. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.01.

Hyatt Hotels (NYSE:H - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.21. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.82 billion. Hyatt Hotels had a return on equity of 7.27% and a net margin of 1.10%.The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. On average, equities analysts forecast that Hyatt Hotels Corporation will post 3.55 EPS for the current year.

Hyatt Hotels Dividend Announcement

The business 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 $0.15 dividend. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $0.60 dividend on an annualized basis and a yield of 0.3%. Hyatt Hotels's dividend payout ratio (DPR) is 73.17%.

Insider Activity

In other news, insider Peter Sears sold 10,217 shares of the business's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $185.66, for a total transaction of $1,896,888.22. Following the sale, the insider owned 6,374 shares of the company's stock, valued at $1,183,396.84. The trade was a 61.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $305,796.00. Following the completion of the sale, the director owned 29,525 shares in the company, valued at approximately $5,310,957. This represents a 5.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 14,004 shares of company stock worth $2,595,040. Company insiders own 23.60% of the company's stock.

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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