Hilton Worldwide (NYSE:HLT) Reaches New 12-Month High After Analyst Upgrade

Hilton Worldwide Holdings Inc. (NYSE:HLT)’s share price reached a new 52-week high on Tuesday after Wells Fargo & Company raised their price target on the stock from $232.00 to $240.00. Wells Fargo & Company currently has an equal weight rating on the stock. Hilton Worldwide traded as high as $259.21 and last traded at $258.85, with a volume of 1176587 shares changing hands. The stock had previously closed at $256.27.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Hilton Worldwide from $219.00 to $226.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Evercore ISI lifted their target price on Hilton Worldwide from $210.00 to $240.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. TD Cowen lowered their price target on Hilton Worldwide from $265.00 to $256.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Truist Financial lifted their price objective on shares of Hilton Worldwide from $208.00 to $220.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group increased their target price on shares of Hilton Worldwide from $237.00 to $277.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $238.71.

Insider Buying and Selling at Hilton Worldwide

In other Hilton Worldwide news, insider Michael W. Duffy sold 23,366 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $251.66, for a total transaction of $5,880,287.56. Following the sale, the insider now owns 22,833 shares of the company’s stock, valued at $5,746,152.78. The trade was a 50.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Hilton Worldwide

Several hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. bought a new position in Hilton Worldwide in the 3rd quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Hilton Worldwide in the fourth quarter valued at approximately $34,000. Groupama Asset Managment grew its stake in Hilton Worldwide by 37.8% during the third quarter. Groupama Asset Managment now owns 15,025 shares of the company’s stock valued at $35,000 after acquiring an additional 4,118 shares in the last quarter. Sierra Ocean LLC bought a new stake in Hilton Worldwide during the 4th quarter worth approximately $36,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Hilton Worldwide in the 3rd quarter worth approximately $38,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Hilton Worldwide Trading Up 1.0 %

The stock has a market capitalization of $63.10 billion, a P/E ratio of 55.55, a P/E/G ratio of 2.67 and a beta of 1.29. The company’s fifty day simple moving average is $249.66 and its 200 day simple moving average is $234.83.

Hilton Worldwide declared that its board has approved a stock buyback program on Thursday, November 14th that allows the company to buyback $3.50 billion in shares. This buyback authorization allows the company to purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.