Bank of Nova Scotia Lowers Stock Position in Hyatt Hotels Corporation $H

Bank of Nova Scotia decreased its position in Hyatt Hotels Corporation (NYSE:H) by 7.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,746,310 shares of the company’s stock after selling 131,137 shares during the period. Bank of Nova Scotia’s holdings in Hyatt Hotels were worth $243,872,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Hyatt Hotels by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 3,920,488 shares of the company’s stock valued at $480,260,000 after acquiring an additional 21,190 shares during the period. Wellington Management Group LLP grew its holdings in Hyatt Hotels by 6.9% in the first quarter. Wellington Management Group LLP now owns 1,800,639 shares of the company’s stock valued at $220,578,000 after purchasing an additional 116,813 shares during the period. Long Pond Capital LP acquired a new stake in Hyatt Hotels in the first quarter valued at approximately $191,922,000. Alliancebernstein L.P. increased its position in shares of Hyatt Hotels by 10.6% in the first quarter. Alliancebernstein L.P. now owns 562,776 shares of the company’s stock valued at $68,940,000 after buying an additional 53,875 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Hyatt Hotels by 7.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 426,359 shares of the company’s stock worth $52,229,000 after buying an additional 29,976 shares during the period. Institutional investors and hedge funds own 73.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price target on shares of Hyatt Hotels from $154.00 to $156.00 and gave the stock a “neutral” rating in a report on Thursday, November 20th. Citigroup upgraded shares of Hyatt Hotels from a “neutral” rating to a “buy” rating and upped their price target for the stock from $138.00 to $167.00 in a research report on Tuesday, September 9th. Wells Fargo & Company started coverage on Hyatt Hotels in a report on Tuesday, November 18th. They issued an “equal weight” rating and a $154.00 price objective on the stock. Barclays boosted their price objective on Hyatt Hotels from $156.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Finally, Wall Street Zen downgraded Hyatt Hotels from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hyatt Hotels presently has an average rating of “Moderate Buy” and a consensus price target of $158.93.

Hyatt Hotels Stock Down 0.4%

Shares of NYSE H opened at $155.97 on Monday. The stock has a market cap of $14.81 billion, a PE ratio of -167.70, a P/E/G ratio of 3.91 and a beta of 1.28. The company has a current ratio of 0.69, a quick ratio of 0.68 and a debt-to-equity ratio of 1.47. Hyatt Hotels Corporation has a 12-month low of $102.43 and a 12-month high of $168.20. The company has a 50-day moving average of $150.10 and a 200 day moving average of $143.75.

Hyatt Hotels (NYSE:H) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.79). Hyatt Hotels had a negative net margin of 1.27% and a positive return on equity of 3.22%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the company earned $0.94 earnings per share. Hyatt Hotels’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts predict that Hyatt Hotels Corporation will post 3.05 EPS for the current fiscal year.

Hyatt Hotels Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 24th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, November 24th. Hyatt Hotels’s payout ratio is currently -64.52%.

Insider Activity

In other Hyatt Hotels news, insider Peter Sears sold 12,394 shares of Hyatt Hotels stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $155.51, for a total transaction of $1,927,390.94. Following the transaction, the insider directly owned 5,594 shares of the company’s stock, valued at $869,922.94. The trade was a 68.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Udell sold 4,300 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $166.00, for a total transaction of $713,800.00. Following the completion of the sale, the insider directly owned 13,746 shares of the company’s stock, valued at approximately $2,281,836. This trade represents a 23.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 23,835 shares of company stock worth $3,737,955. Corporate insiders own 23.70% of the company’s stock.

Hyatt Hotels Profile

Hyatt Hotels Corporation operates as a hospitality company in the United States and internationally. It operates through Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, EAME Management and Franchising, and Apple Leisure Group segments. The company manages, franchises, licenses, owns, and leases portfolio of properties, consisting of full-service hotels and resorts, select service hotels, and other properties, including timeshare, fractional, residential, vacation, and condominium units.