Starwood Hotels & Resorts Worldwide CEO Sells $4,761,455 in Stock (HOT)
Starwood Hotels & Resorts Worldwide (NYSE:HOT) CEO Paasschen Frits Van unloaded 63,895 shares of Starwood Hotels & Resorts Worldwide stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $74.52, for a total transaction of $4,761,455.40. Following the transaction, the chief executive officer now directly owns 238,536 shares of the company’s stock, valued at approximately $17,775,703. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Starwood Hotels & Resorts Worldwide (NYSE:HOT) traded up 0.29% on Monday, hitting $74.85. The stock had a trading volume of 1,982,209 shares. Starwood Hotels & Resorts Worldwide has a 1-year low of $50.22 and a 1-year high of $75.00. The stock has a 50-day moving average of $68.9 and a 200-day moving average of $66.51. The company has a market cap of $14.335 billion and a P/E ratio of 22.41.
Starwood Hotels & Resorts Worldwide (NYSE:HOT) last posted its quarterly earnings results 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. On average, analysts predict that Starwood Hotels & Resorts Worldwide will post $2.95 earnings per share for the current fiscal year.
The company also recently declared a annual dividend, which is scheduled for Friday, December 27th. Investors 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 an increase from Starwood Hotels & Resorts Worldwide’s previous annual dividend of $1.25.
A number of research firms have recently commented on HOT. Analysts at Thomson Reuters/Verus downgraded shares of Starwood Hotels & Resorts Worldwide from a “hold” rating to a “sell” rating in a research note to investors on Monday. Separately, analysts at Argus raised their price target on shares of Starwood Hotels & Resorts Worldwide from $76.00 to $85.00 in a research note to investors on Tuesday, October 29th. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Starwood Hotels & Resorts Worldwide from $70.00 to $75.00 in a research note to investors on Monday, October 28th. They now have a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $73.76.
Starwood Hotels & Resorts Worldwide, Inc (NYSE:HOT) is a hotel and leisure company.
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