Pictet Asset Management Holding SA raised its position in shares of Hyatt Hotels Corporation (NYSE:H – Free Report) by 1,178.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 247,954 shares of the company’s stock after purchasing an additional 228,561 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Hyatt Hotels were worth $39,316,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in shares of Hyatt Hotels during the second quarter worth $56,408,000. Factory Mutual Insurance Co. raised its stake in Hyatt Hotels by 98.8% during the third quarter. Factory Mutual Insurance Co. now owns 239,598 shares of the company’s stock worth $37,991,000 after buying an additional 119,050 shares during the last quarter. Amundi lifted its holdings in Hyatt Hotels by 70.9% in the first quarter. Amundi now owns 189,272 shares of the company’s stock valued at $27,215,000 after buying an additional 78,544 shares during the period. Conversant Capital LLC acquired a new position in Hyatt Hotels in the first quarter valued at $8,627,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Hyatt Hotels by 19.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 296,133 shares of the company’s stock valued at $42,608,000 after acquiring an additional 48,002 shares during the last quarter. Institutional investors own 73.54% of the company’s stock.
Insider Transactions at Hyatt Hotels
In other news, Director Susan D. Kronick sold 1,700 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $179.88, for a total value of $305,796.00. Following the completion of the sale, the director owned 29,525 shares in the company, valued at $5,310,957. This represents a 5.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amar Lalvani sold 1,364 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $163.06, for a total transaction of $222,413.84. Following the completion of the sale, the insider owned 4,894 shares of the company’s stock, valued at approximately $798,015.64. This represents a 21.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 23.60% of the stock is currently owned by insiders.
Hyatt Hotels Price Performance
Shares of NYSE H opened at $191.20 on Wednesday. The firm has a market capitalization of $17.86 billion, a P/E ratio of 99.07, a P/E/G ratio of 1.46 and a beta of 1.37. The firm’s 50-day moving average price is $167.38 and its 200-day moving average price is $170.55. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.05. Hyatt Hotels Corporation has a 1-year low of $137.53 and a 1-year high of $206.86.
Hyatt Hotels (NYSE:H – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Hyatt Hotels had a return on equity of 11.63% and a net margin of 2.62%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.30) EPS. Equities research analysts anticipate that Hyatt Hotels Corporation will post 3.76 earnings per share for the current fiscal year.
Hyatt Hotels Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Monday, November 23rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, November 23rd. Hyatt Hotels’s dividend payout ratio (DPR) is 31.09%.
Analysts Set New Price Targets
H has been the subject of a number of recent analyst reports. Susquehanna decreased their price target on Hyatt Hotels from $185.00 to $180.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Robert W. Baird upped their target price on Hyatt Hotels from $188.00 to $194.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. Mizuho raised their target price on Hyatt Hotels from $221.00 to $222.00 and gave the stock an “outperform” rating in a research note on Thursday, October 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $215.00 target price on shares of Hyatt Hotels in a report on Friday, October 30th. Finally, Barclays boosted their price target on Hyatt Hotels from $202.00 to $207.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Hyatt Hotels presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.62.
Check Out Our Latest Stock Report on H
Hyatt Hotels Profile
Hyatt Hotels Corporation is a global hospitality company that develops, owns, leases, manages and franchises hotels, resorts and other lodging properties. Its portfolio includes luxury, lifestyle, full-service, select-service and all-inclusive brands, including Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt Place, Andaz, Thompson Hotels and the Inclusive Collection. Hyatt properties serve guests across the Americas, Europe, Asia Pacific, the Middle East and Africa. In addition to accommodations, the company’s offerings include dining, wellness, meetings and events, residential properties and vacation ownership.
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