Sterneck Capital Management LLC Invests $244,000 in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Sterneck Capital Management LLC bought a new stake in Hilton Worldwide Holdings Inc. (NYSE:HLT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 987 shares of the company’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Hilton Worldwide by 15.3% in the 3rd quarter. Principal Financial Group Inc. now owns 10,756,416 shares of the company’s stock valued at $2,479,354,000 after acquiring an additional 1,429,537 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Hilton Worldwide by 36.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,754,647 shares of the company’s stock worth $1,037,464,000 after purchasing an additional 1,282,676 shares during the period. Jennison Associates LLC boosted its position in shares of Hilton Worldwide by 33.2% during the third quarter. Jennison Associates LLC now owns 3,234,809 shares of the company’s stock worth $745,624,000 after purchasing an additional 806,029 shares in the last quarter. Stockbridge Partners LLC grew its holdings in shares of Hilton Worldwide by 63.6% in the 3rd quarter. Stockbridge Partners LLC now owns 1,544,399 shares of the company’s stock valued at $355,984,000 after buying an additional 600,593 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Hilton Worldwide by 23,730.1% in the 3rd quarter. International Assets Investment Management LLC now owns 479,223 shares of the company’s stock valued at $1,104,610,000 after buying an additional 477,212 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

Hilton Worldwide Stock Down 1.0 %

HLT stock opened at $241.21 on Wednesday. Hilton Worldwide Holdings Inc. has a twelve month low of $179.64 and a twelve month high of $259.01. The company has a market cap of $58.80 billion, a price-to-earnings ratio of 51.76, a P/E/G ratio of 3.18 and a beta of 1.30. The business has a 50 day moving average price of $248.87 and a two-hundred day moving average price of $230.70.

Hilton Worldwide (NYSE:HLT) last issued its earnings results on Wednesday, October 23rd. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.07. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.90 billion. Hilton Worldwide had a net margin of 10.70% and a negative return on equity of 60.85%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.67 earnings per share. On average, equities research analysts anticipate that Hilton Worldwide Holdings Inc. will post 7 EPS for the current fiscal year.

Hilton Worldwide announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 14th that allows the company to buyback $3.50 billion in shares. This buyback authorization allows the company to buy up to 5.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Hilton Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.60 annualized dividend and a yield of 0.25%. Hilton Worldwide’s dividend payout ratio (DPR) is currently 12.88%.

Insider Buying and Selling

In other news, insider Michael W. Duffy sold 23,366 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $251.66, for a total value of $5,880,287.56. Following the completion of the sale, the insider now directly owns 22,833 shares of the company’s stock, valued at $5,746,152.78. This trade represents a 50.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays boosted their target price on Hilton Worldwide from $243.00 to $268.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Wells Fargo & Company lowered their target price on Hilton Worldwide from $237.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on shares of Hilton Worldwide from $219.00 to $226.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Bank of America raised their price objective on shares of Hilton Worldwide from $230.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group upped their target price on shares of Hilton Worldwide from $237.00 to $277.00 and gave the stock a “hold” rating in a research note on Thursday, January 2nd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hilton Worldwide presently has a consensus rating of “Hold” and a consensus target price of $238.24.

Hilton Worldwide Profile

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.