Wells Fargo & Company MN boosted its holdings in Choice Hotels International Inc (NYSE:CHH) by 95.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,593 shares of the company’s stock after acquiring an additional 14,915 shares during the period. Wells Fargo & Company MN’s holdings in Choice Hotels International were worth $1,954,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of CHH. Vanguard Group Inc. lifted its holdings in Choice Hotels International by 7.6% in the second quarter. Vanguard Group Inc. now owns 2,804,252 shares of the company’s stock worth $180,173,000 after acquiring an additional 197,890 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Choice Hotels International by 31.6% in the second quarter. Renaissance Technologies LLC now owns 686,800 shares of the company’s stock worth $44,127,000 after acquiring an additional 165,000 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Choice Hotels International by 16.5% in the third quarter. Victory Capital Management Inc. now owns 1,148,444 shares of the company’s stock worth $73,386,000 after acquiring an additional 162,255 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in Choice Hotels International by 110.4% in the second quarter. Lord Abbett & CO. LLC now owns 305,038 shares of the company’s stock worth $19,599,000 after acquiring an additional 160,038 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Choice Hotels International by 553.2% in the second quarter. Ameriprise Financial Inc. now owns 183,870 shares of the company’s stock worth $11,814,000 after acquiring an additional 155,719 shares during the last quarter. 50.76% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Bruce Bainum sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $74.05, for a total transaction of $18,512,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Patrick Pacious sold 11,149 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $75.78, for a total transaction of $844,871.22. Following the transaction, the chief executive officer now owns 124,073 shares in the company, valued at approximately $9,402,251.94. The disclosure for this sale can be found here. Insiders own 22.01% of the company’s stock.
Choice Hotels International (NYSE:CHH) last released its quarterly earnings results on Monday, November 6th. The company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.03. The company had revenue of $295.09 million for the quarter, compared to analysts’ expectations of $288.50 million. Choice Hotels International had a negative return on equity of 60.41% and a net margin of 15.66%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. sell-side analysts forecast that Choice Hotels International Inc will post 2.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Tuesday, January 2nd were issued a dividend of $0.215 per share. The ex-dividend date was Friday, December 29th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.06%. Choice Hotels International’s dividend payout ratio (DPR) is presently 31.85%.
A number of brokerages have issued reports on CHH. Zacks Investment Research raised shares of Choice Hotels International from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Tuesday, January 9th. JPMorgan Chase & Co. cut shares of Choice Hotels International from a “neutral” rating to an “underweight” rating and set a $72.00 target price on the stock. in a report on Wednesday, December 13th. SunTrust Banks reissued a “hold” rating and issued a $71.00 target price on shares of Choice Hotels International in a report on Friday, November 10th. Barclays raised their target price on shares of Choice Hotels International from $60.00 to $67.00 and gave the stock an “underweight” rating in a report on Tuesday, November 7th. Finally, TheStreet raised shares of Choice Hotels International from a “c+” rating to a “b” rating in a report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $69.13.
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Choice Hotels International Profile
Choice Hotels International, Inc is a hotel franchisor. The Company’s segments include Hotel Franchising, SkyTouch Technology and Corporate & Other. It franchises lodging properties under brand names, including Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Extended Stay Hotel, Cambria hotels & suites, and Ascend Hotel Collection.
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