Starwood Hotels & Resorts Worldwide CFO Unloads $7,620,235 in Stock (HOT)
Starwood Hotels & Resorts Worldwide (NYSE:HOT) CFO Vasant Prabhu sold 104,573 shares of Starwood Hotels & Resorts Worldwide stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $72.87, for a total transaction of $7,620,234.51. Following the transaction, the chief financial officer now directly owns 156,033 shares in the company, valued at approximately $11,370,125. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Starwood Hotels & Resorts Worldwide (NYSE:HOT) traded down 0.43% during mid-day trading on Monday, hitting $74.24. The stock had a trading volume of 1,973,369 shares. Starwood Hotels & Resorts Worldwide has a 1-year low of $50.22 and a 1-year high of $70.16. The stock’s 50-day moving average is $66.03 and its 200-day moving average is $64.73. The company has a market cap of $14.295 billion and a price-to-earnings ratio of 22.39.
Starwood Hotels & Resorts Worldwide (NYSE:HOT) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.63 by $0.08. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts expect that Starwood Hotels & Resorts Worldwide will post $2.92 EPS for the current fiscal year.
The company also recently declared a annual dividend, which is scheduled for Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $1.35 per share. This represents a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, December 11th. This is a boost from Starwood Hotels & Resorts Worldwide’s previous annual dividend of $1.25.
HOT has been the subject of a number of recent research reports. Analysts at BMO Capital Markets raised their price target on shares of Starwood Hotels & Resorts Worldwide to $75.00 in a research note to investors on Monday. They now have a “market perform” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of Starwood Hotels & Resorts Worldwide from $75.00 to $86.00 in a research note to investors on Friday. They now have a “positive” rating on the stock. Finally, analysts at Raymond James raised their price target on shares of Starwood Hotels & Resorts Worldwide from $72.00 to $82.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $73.40.
Starwood Hotels & Resorts Worldwide, Inc (NYSE:HOT) is a hotel and leisure company.
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