Hilton Worldwide (NYSE:HLT) Given New $240.00 Price Target at Wells Fargo & Company

Hilton Worldwide (NYSE:HLT) had its price target upped by Wells Fargo & Company from $232.00 to $240.00 in a research note published on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also recently issued reports on HLT. Melius Research reissued a “hold” rating on shares of Hilton Worldwide in a research note on Monday, October 21st. Melius downgraded Hilton Worldwide from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. upped their target price 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. Truist Financial lifted their price target on shares of Hilton Worldwide from $208.00 to $220.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Finally, Bank of America upped 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. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hilton Worldwide has an average rating of “Hold” and a consensus target price of $239.88.

Hilton Worldwide Stock Up 4.7 %

NYSE HLT opened at $269.89 on Tuesday. The business’s fifty day simple moving average is $249.92 and its 200-day simple moving average is $235.26. The firm has a market cap of $65.79 billion, a PE ratio of 57.92, a P/E/G ratio of 2.67 and a beta of 1.29. Hilton Worldwide has a 52 week low of $186.83 and a 52 week high of $273.78.

Hilton Worldwide (NYSE:HLT) last posted its earnings results on Thursday, February 6th. The company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.09. Hilton Worldwide had a net margin of 10.70% and a negative return on equity of 60.85%. Research analysts expect that Hilton Worldwide will post 7 EPS for the current year.

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

Insider Transactions at Hilton Worldwide

In related news, insider Michael W. Duffy sold 23,366 shares of Hilton Worldwide stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $251.66, for a total value of $5,880,287.56. Following the completion of the transaction, the insider now owns 22,833 shares in the company, valued at $5,746,152.78. The trade was a 50.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Hilton Worldwide

Hedge funds and other institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Hilton Worldwide in the third quarter valued at $765,000. Franklin Resources Inc. increased its holdings in shares of Hilton Worldwide by 3.1% in the 3rd quarter. Franklin Resources Inc. now owns 4,090,950 shares of the company’s stock valued at $1,012,069,000 after acquiring an additional 121,900 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Hilton Worldwide during the 3rd quarter worth about $38,000. Fiduciary Alliance LLC purchased a new stake in Hilton Worldwide during the fourth quarter worth approximately $1,246,000. Finally, Chartwell Investment Partners LLC boosted its holdings in Hilton Worldwide by 35.8% in the third quarter. Chartwell Investment Partners LLC now owns 28,756 shares of the company’s stock valued at $6,628,000 after purchasing an additional 7,583 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Hilton Worldwide Company 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.