Hilton Worldwide (NYSE:HLT) Shares Gap Down - Here's What Happened

Hilton Worldwide Holdings Inc. (NYSE:HLT - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $273.84, but opened at $264.90. Hilton Worldwide shares last traded at $270.63, with a volume of 336,332 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Bank of America upped their price objective on Hilton Worldwide from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Monday. The Goldman Sachs Group reissued a "neutral" rating and set a $235.00 target price (down previously from $296.00) on shares of Hilton Worldwide in a report on Monday, April 14th. Dbs Bank upgraded Hilton Worldwide from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 14th. Macquarie lifted their price target on Hilton Worldwide from $240.00 to $258.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. assumed coverage on Hilton Worldwide in a research report on Monday, June 23rd. They issued an "overweight" rating and a $282.00 price target for the company. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Hilton Worldwide has an average rating of "Moderate Buy" and an average target price of $258.56.

Hilton Worldwide Price Performance

The firm has a market cap of $64.14 billion, a P/E ratio of 41.45, a PEG ratio of 2.65 and a beta of 1.25. The stock has a 50 day moving average of $259.06 and a 200 day moving average of $246.61.

Hilton Worldwide (NYSE:HLT - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.16. Hilton Worldwide had a negative return on equity of 48.32% and a net margin of 13.84%. The business had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the prior year, the firm earned $1.91 earnings per share. The firm's revenue was up 6.3% on a year-over-year basis. On average, research analysts predict that Hilton Worldwide Holdings Inc. will post 7.89 EPS for the current fiscal year.

Hilton Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 0.22%. Hilton Worldwide's payout ratio is 9.46%.

Institutional Trading of Hilton Worldwide

Institutional investors have recently added to or reduced their stakes in the business. Sowell Financial Services LLC purchased a new stake in Hilton Worldwide during the first quarter valued at about $314,000. Artemis Investment Management LLP boosted its holdings in shares of Hilton Worldwide by 3.9% during the first quarter. Artemis Investment Management LLP now owns 163,281 shares of the company's stock worth $37,155,000 after purchasing an additional 6,146 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Hilton Worldwide by 8.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,836,430 shares of the company's stock worth $1,100,530,000 after purchasing an additional 364,307 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in shares of Hilton Worldwide during the first quarter worth about $217,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Hilton Worldwide by 44.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,507 shares of the company's stock worth $1,253,000 after purchasing an additional 1,691 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.