Pershing Square Capital Management L.P. Sells 409,446 Shares of Hilton Hotels Co. (NYSE:HLT)

Pershing Square Capital Management L.P. reduced its position in Hilton Hotels Co. (NYSE:HLT) by 3.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 10,556,805 shares of the company’s stock after selling 409,446 shares during the period. Hilton Hotels comprises 15.1% of Pershing Square Capital Management L.P.’s holdings, making the stock its 3rd largest position. Pershing Square Capital Management L.P.’s holdings in Hilton Hotels were worth $982,944,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. JS Capital Management LLC increased its position in Hilton Hotels by 10.5% during the third quarter. JS Capital Management LLC now owns 210,000 shares of the company’s stock worth $19,553,000 after buying an additional 20,000 shares during the last quarter. Maverick Capital Ltd. bought a new position in shares of Hilton Hotels in the third quarter valued at about $62,988,000. Metropolitan Life Insurance Co NY lifted its stake in shares of Hilton Hotels by 0.3% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 56,578 shares of the company’s stock worth $5,268,000 after buying an additional 171 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Hilton Hotels during the 3rd quarter worth about $3,413,000. Finally, National Pension Service boosted its holdings in shares of Hilton Hotels by 4.9% during the 3rd quarter. National Pension Service now owns 405,939 shares of the company’s stock worth $37,797,000 after buying an additional 19,043 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

A number of brokerages recently commented on HLT. Macquarie lowered shares of Hilton Hotels from an “outperform” rating to a “neutral” rating and set a $98.00 price target on the stock. in a research note on Tuesday, September 3rd. Wells Fargo & Co reduced their price objective on Hilton Hotels from $97.00 to $95.00 and set a “market perform” rating for the company in a report on Friday, October 18th. JPMorgan Chase & Co. reduced their price objective on Hilton Hotels from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Sanford C. Bernstein initiated coverage on Hilton Hotels in a research note on Wednesday, September 11th. They set an “outperform” rating and a $108.00 target price on the stock. Finally, Zacks Investment Research raised Hilton Hotels from a “sell” rating to a “hold” rating and set a $103.00 price target for the company in a report on Monday, October 28th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Hilton Hotels currently has a consensus rating of “Hold” and a consensus price target of $98.60.

Shares of NYSE HLT traded down $0.72 during midday trading on Monday, reaching $104.75. The company’s stock had a trading volume of 1,404,600 shares, compared to its average volume of 2,155,240. The company has a debt-to-equity ratio of 78.08, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $29.82 billion, a P/E ratio of 37.54, a P/E/G ratio of 3.40 and a beta of 1.11. The business’s 50 day moving average price is $100.06 and its two-hundred day moving average price is $95.55. Hilton Hotels Co. has a fifty-two week low of $65.64 and a fifty-two week high of $106.42.

Hilton Hotels (NYSE:HLT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.03. Hilton Hotels had a return on equity of 972.97% and a net margin of 9.92%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the business posted $0.77 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Sell-side analysts forecast that Hilton Hotels Co. will post 3.85 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 8th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. Hilton Hotels’s payout ratio is 21.51%.

Hilton Hotels Profile

Hilton Worldwide Holdings Inc, a hospitality company, owns, leases, manages, develops, and franchises 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 to franchisees. It operates hotels under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Hilton Hotels & Resorts, Curio Collection by Hilton, DoubleTree by Hilton, Tapestry Collection by Hilton, Embassy Suites by Hilton, Motto by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton, Hilton Grand Vacations, and Signia Hilton brands.

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Institutional Ownership by Quarter for Hilton Hotels (NYSE:HLT)

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