State of New Jersey Common Pension Fund D Sells 6,746 Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT)

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Hilton Worldwide Holdings Inc. by 7.7%, selling 6,746 shares and holding 80,655 shares worth approximately $18.35 million.
• Several analysts have upgraded their ratings for Hilton Worldwide, with Bank of America raising its price target from $275.00 to $285.00 and assigning a "buy" rating.
• Hilton Worldwide recently declared a quarterly dividend of $0.15, indicating an annualized dividend yield of 0.2% with a payout ratio of 9.22%.

State of New Jersey Common Pension Fund D trimmed its position in Hilton Worldwide Holdings Inc. (NYSE:HLT - Free Report) by 7.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,655 shares of the company's stock after selling 6,746 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Hilton Worldwide were worth $18,353,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its stake in shares of Hilton Worldwide by 78.7% during the 1st quarter. ORG Partners LLC now owns 168 shares of the company's stock valued at $38,000 after buying an additional 74 shares in the last quarter. Beacon Capital Management LLC raised its holdings in Hilton Worldwide by 76.0% during the first quarter. Beacon Capital Management LLC now owns 176 shares of the company's stock valued at $40,000 after acquiring an additional 76 shares during the period. Valley National Advisers Inc. boosted its stake in shares of Hilton Worldwide by 244.8% in the first quarter. Valley National Advisers Inc. now owns 200 shares of the company's stock worth $45,000 after acquiring an additional 142 shares during the period. Optiver Holding B.V. grew its position in shares of Hilton Worldwide by 127.1% during the fourth quarter. Optiver Holding B.V. now owns 218 shares of the company's stock worth $54,000 after purchasing an additional 122 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in Hilton Worldwide in the 1st quarter worth approximately $54,000. Institutional investors own 95.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on HLT shares. Bank of America increased their price objective on shares of Hilton Worldwide from $275.00 to $285.00 and gave the company a "buy" rating in a report on Monday, July 21st. Evercore ISI cut their price target on Hilton Worldwide from $275.00 to $245.00 and set an "in-line" rating for the company in a report on Wednesday, April 23rd. Barclays decreased their price objective on Hilton Worldwide from $296.00 to $291.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Jefferies Financial Group raised shares of Hilton Worldwide from a "hold" rating to a "buy" rating and raised their target price for the company from $228.00 to $296.00 in a report on Monday, May 12th. Finally, Raymond James Financial upped their price target on shares of Hilton Worldwide from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $264.40.

Hilton Worldwide Stock Down 0.9%

HLT opened at $267.80 on Friday. The business has a fifty day moving average of $264.39 and a 200 day moving average of $248.90. The stock has a market cap of $62.98 billion, a P/E ratio of 41.14, a PEG ratio of 2.66 and a beta of 1.26. Hilton Worldwide Holdings Inc. has a 52-week low of $196.04 and a 52-week high of $279.46.

Hilton Worldwide (NYSE:HLT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $2.20 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.16. The firm had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $3.09 billion. Hilton Worldwide had a net margin of 13.84% and a negative return on equity of 46.13%. The business's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.91 earnings per share. Equities analysts anticipate that Hilton Worldwide Holdings Inc. will post 7.89 EPS for the current fiscal year.

Hilton Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be issued a $0.15 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.2%. Hilton Worldwide's payout ratio is presently 9.22%.

About Hilton Worldwide

Hilton Worldwide Holdings Inc, a hospitality company, engages in managing, franchising, owning, and leasing hotels and resorts. It operates through two segments, Management and Franchise, and Ownership. The company engages in the hotel management and licensing of its brands. It operates luxury hotels under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, and Conrad Hotels & Resorts brand; lifestyle hotels under the Canopy by Hilton, Curio Collection by Hilton, Tapestry Collection by Hilton, Tempo by Hilton, and Motto by Hilton brand; full service hotels under the Signia by Hilton, Hilton Hotels & Resorts, and DoubleTree by Hilton brand; service hotels under the Hilton Garden Inn, Hampton by Hilton, and Tru by Hilton brand; all-suite hotels under the Embassy Suites by Hilton, Homewood Suites by Hilton, and Home2 Suites by Hilton brand; and economy hotel under the Spark by Hilton brand, as well as Hilton Grand Vacations.

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