Hyatt Hotels Corporation $H Shares Sold by Veritas Asset Management LLP

by · The Cerbat Gem

Veritas Asset Management LLP cut its stake in Hyatt Hotels Corporation (NYSE:HFree Report) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,326,362 shares of the company’s stock after selling 9,885 shares during the period. Hyatt Hotels makes up 4.8% of Veritas Asset Management LLP’s investment portfolio, making the stock its 10th largest position. Veritas Asset Management LLP owned about 1.41% of Hyatt Hotels worth $257,102,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in Hyatt Hotels by 17,286.6% during the second quarter. California State Teachers Retirement System now owns 8,654,374 shares of the company’s stock worth $1,677,564,000 after acquiring an additional 8,604,598 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Hyatt Hotels by 48.0% during the 4th quarter. Wellington Management Group LLP now owns 4,676,116 shares of the company’s stock valued at $749,675,000 after acquiring an additional 1,516,554 shares in the last quarter. Bank of America Corp DE boosted its position in Hyatt Hotels by 84.5% during the 2nd quarter. Bank of America Corp DE now owns 1,228,396 shares of the company’s stock worth $171,545,000 after purchasing an additional 562,611 shares during the period. Par Capital Management Inc. increased its holdings in Hyatt Hotels by 551.8% in the 2nd quarter. Par Capital Management Inc. now owns 371,261 shares of the company’s stock valued at $51,847,000 after purchasing an additional 314,300 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Hyatt Hotels by 342.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 383,707 shares of the company’s stock worth $61,517,000 after purchasing an additional 296,931 shares in the last quarter. Institutional investors and hedge funds own 73.54% of the company’s stock.

Hyatt Hotels Stock Performance

Hyatt Hotels stock traded down $4.44 during midday trading on Tuesday, reaching $161.41. 811,502 shares of the stock traded hands, compared to its average volume of 848,922. The firm has a fifty day moving average price of $181.18 and a two-hundred day moving average price of $172.71. Hyatt Hotels Corporation has a fifty-two week low of $134.18 and a fifty-two week high of $206.86. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 196.84 and a beta of 1.34. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.01.

Hyatt Hotels (NYSE:HGet Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.21. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.82 billion. Hyatt Hotels had a return on equity of 7.27% and a net margin of 1.10%.The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. On average, equities research analysts forecast that Hyatt Hotels Corporation will post 3.54 earnings per share for the current year.

Hyatt Hotels Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be issued a $0.15 dividend. The ex-dividend date is Thursday, August 27th. This represents a $0.60 annualized dividend and a dividend yield of 0.4%. Hyatt Hotels’s dividend payout ratio (DPR) is 73.17%.

Insider Activity at Hyatt Hotels

In other Hyatt Hotels news, Director Susan Kronick sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $179.88, for a total value of $305,796.00. Following the completion of the sale, the director directly owned 29,525 shares in the company, valued at $5,310,957. This represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 23.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on H shares. Morgan Stanley lowered their price objective on shares of Hyatt Hotels from $218.00 to $209.00 and set an “overweight” rating for the company in a research report on Tuesday, August 18th. Wolfe Research initiated coverage on shares of Hyatt Hotels in a research note on Wednesday, September 2nd. They set an “outperform” rating and a $203.00 price objective on the stock. JPMorgan Chase & Co. reduced their price target on shares of Hyatt Hotels from $215.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Barclays lowered their price objective on Hyatt Hotels from $220.00 to $201.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Hyatt Hotels from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.07.

Get Our Latest Research Report on Hyatt Hotels

About Hyatt Hotels

(Free Report)

Hyatt Hotels Corporation (NYSE: H) is a global hospitality company that develops, owns, manages and franchises luxury and business hotels, resorts and vacation properties. Its portfolio spans a range of price points and styles under brands such as Park Hyatt, Grand Hyatt, Andaz, Hyatt Regency, Hyatt Centric, Hyatt Place, Hyatt House, Thompson Hotels, Alila and Destination by Hyatt. In addition to accommodations, the company provides meeting and event spaces, food and beverage outlets, spa and wellness centers, and a variety of guest services designed to cater to both leisure and business travelers.

Hyatt’s business model combines property ownership, management contracts and third-party franchising.

See Also

Want to see what other hedge funds are holding H? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hyatt Hotels Corporation (NYSE:HFree Report).