Canada Pension Plan Investment Board Buys New Stake in Hyatt Hotels Corporation $H

Canada Pension Plan Investment Board purchased a new position in shares of Hyatt Hotels Corporation (NYSE:H) during the second quarter, Holdings Channel.com reports. The fund purchased 7,700 shares of the company’s stock, valued at approximately $849,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake 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 worth $749,675,000 after acquiring an additional 1,516,554 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Hyatt Hotels in the 2nd quarter valued at about $249,931,000. Veritas Asset Management LLP raised its holdings in Hyatt Hotels by 827.9% in the 4th quarter. Veritas Asset Management LLP now owns 1,900,417 shares of the company’s stock worth $304,675,000 after purchasing an additional 1,695,616 shares during the period. Bank of Nova Scotia boosted its position in Hyatt Hotels by 2.8% during the fourth quarter. Bank of Nova Scotia now owns 1,605,243 shares of the company’s stock worth $257,352,000 after purchasing an additional 43,733 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Hyatt Hotels by 15.8% during the third quarter. Bank of America Corp DE now owns 1,421,926 shares of the company’s stock worth $201,814,000 after purchasing an additional 193,530 shares in the last quarter. Hedge funds and other institutional investors own 73.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen upgraded Hyatt Hotels from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Morgan Stanley decreased their target price on Hyatt Hotels from $218.00 to $209.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 18th. Sanford C. Bernstein lifted their price target on shares of Hyatt Hotels from $186.00 to $202.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Stifel Nicolaus set a $182.00 price objective on shares of Hyatt Hotels in a research report on Friday, May 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Hyatt Hotels in a research report on Wednesday, June 24th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $196.64.

Hyatt Hotels Trading Down 3.0%

Shares of H opened at $167.06 on Tuesday. Hyatt Hotels Corporation has a 52-week low of $134.18 and a 52-week high of $206.86. The stock has a market cap of $15.74 billion, a PE ratio of 203.73 and a beta of 1.33. The firm’s fifty day moving average is $184.39 and its two-hundred day moving average is $172.80. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.01.

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

Hyatt Hotels Announces Dividend

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

Insider Activity at Hyatt Hotels

In other news, Director Susan D. Kronick sold 1,700 shares of Hyatt Hotels stock in a transaction on Monday, August 17th. The stock was sold at an average price of $179.88, for a total transaction of $305,796.00. Following the transaction, the director owned 29,525 shares in the company, valued at $5,310,957. The trade was a 5.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 currently owned by corporate insiders.

Hyatt Hotels Company Profile

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.