Raymond James Financial Inc. Trims Stock Position in Hyatt Hotels Corporation $H

Key Points

• Raymond James Financial Inc. reduced its stake in Hyatt Hotels by 7.1%, selling 34,669 shares and holding 456,708 shares valued at approximately $55.9 million.
• Hyatt Hotels reports excellent quarterly earnings, with EPS of $0.68, surpassing expectations of $0.62, and revenue of $1.81 billion.
• The company has declared a quarterly dividend of $0.15 per share, reflecting an annualized yield of 0.4% for shareholders of record on August 27th.

Raymond James Financial Inc. reduced its position in Hyatt Hotels Corporation (NYSE:H - Free Report) by 7.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 456,708 shares of the company's stock after selling 34,669 shares during the quarter. Raymond James Financial Inc. owned about 0.47% of Hyatt Hotels worth $55,947,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Brandywine Global Investment Management LLC lifted its position in Hyatt Hotels by 32.9% during the first quarter. Brandywine Global Investment Management LLC now owns 44,495 shares of the company's stock valued at $5,451,000 after purchasing an additional 11,003 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Hyatt Hotels by 12.7% during the first quarter. Russell Investments Group Ltd. now owns 27,651 shares of the company's stock valued at $3,386,000 after purchasing an additional 3,117 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its position in Hyatt Hotels by 0.9% during the first quarter. Resona Asset Management Co. Ltd. now owns 12,969 shares of the company's stock valued at $1,587,000 after purchasing an additional 121 shares during the last quarter. Rathbones Group PLC lifted its position in Hyatt Hotels by 92.6% during the first quarter. Rathbones Group PLC now owns 3,717 shares of the company's stock valued at $455,000 after purchasing an additional 1,787 shares during the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in Hyatt Hotels during the first quarter valued at approximately $282,000. 73.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Hyatt Hotels news, major shareholder Hotels Corp Hyatt bought 996,587 shares of the firm's stock in a transaction on Friday, June 13th. The stock was acquired at an average price of $13.50 per share, with a total value of $13,453,924.50. Following the transaction, the insider owned 117,077,441 shares in the company, valued at $1,580,545,453.50. This represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Cary D. Mcmillan sold 1,000 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $132.70, for a total value of $132,700.00. Following the completion of the transaction, the director directly owned 498 shares of the company's stock, valued at approximately $66,084.60. This trade represents a 66.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,491 shares of company stock worth $870,211 in the last 90 days. Corporate insiders own 23.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on H shares. Truist Financial dropped their target price on shares of Hyatt Hotels from $156.00 to $140.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Hyatt Hotels from a "hold" rating to a "buy" rating in a research report on Monday, July 14th. Raymond James Financial raised shares of Hyatt Hotels from a "market perform" rating to a "strong-buy" rating and set a $165.00 price target on the stock in a research note on Tuesday, July 1st. The Goldman Sachs Group lifted their price target on shares of Hyatt Hotels from $110.00 to $123.00 and gave the stock a "sell" rating in a research note on Friday, May 2nd. Finally, Macquarie decreased their price target on shares of Hyatt Hotels from $155.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.26.

Hyatt Hotels Stock Down 1.7%

Hyatt Hotels stock traded down $2.5190 during mid-day trading on Monday, reaching $141.5410. The stock had a trading volume of 706,618 shares, compared to its average volume of 957,976. The company has a market capitalization of $13.52 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.25 and a beta of 1.46. The company has a 50-day moving average price of $142.06 and a two-hundred day moving average price of $132.71. Hyatt Hotels Corporation has a one year low of $102.43 and a one year high of $168.20. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.70 and a quick ratio of 0.70.

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

Hyatt Hotels Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.60 dividend on an annualized basis and a yield of 0.4%. Hyatt Hotels's payout ratio is 14.25%.

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.