TIAA CREF Investment Management LLC Has $6.89 Million Position in Choice Hotels International, Inc. (CHH)
TIAA CREF Investment Management LLC lowered its stake in shares of Choice Hotels International, Inc. (NYSE:CHH) by 6.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,252 shares of the company’s stock after selling 7,965 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.19% of Choice Hotels International worth $6,891,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Utah Retirement Systems boosted its position in Choice Hotels International by 1.7% during the 2nd quarter. Utah Retirement Systems now owns 6,112 shares of the company’s stock valued at $393,000 after purchasing an additional 100 shares during the period. Huntington National Bank boosted its position in Choice Hotels International by 4.7% during the 2nd quarter. Huntington National Bank now owns 2,709 shares of the company’s stock worth $174,000 after acquiring an additional 121 shares during the period. Legal & General Group Plc boosted its position in Choice Hotels International by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 12,168 shares of the company’s stock worth $782,000 after acquiring an additional 136 shares during the period. Principal Financial Group Inc. boosted its position in Choice Hotels International by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 21,196 shares of the company’s stock worth $1,327,000 after acquiring an additional 143 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Choice Hotels International by 10.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,611 shares of the company’s stock worth $104,000 after acquiring an additional 157 shares during the period. Institutional investors and hedge funds own 50.26% of the company’s stock.
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A number of brokerages have issued reports on CHH. BidaskClub upgraded Choice Hotels International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research lowered Choice Hotels International from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Deutsche Bank AG reduced their price target on Choice Hotels International from $68.00 to $66.00 and set a “hold” rating for the company in a research report on Thursday, August 3rd. Finally, Barclays PLC reiterated an “underweight” rating and set a $60.00 price target (down previously from $61.00) on shares of Choice Hotels International in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Choice Hotels International currently has an average rating of “Hold” and an average target price of $62.57.
In other news, insider David A. Pepper sold 10,217 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $61.07, for a total value of $623,952.19. Following the transaction, the insider now directly owns 79,010 shares in the company, valued at approximately $4,825,140.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bruce Bainum sold 20,770 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $62.00, for a total value of $1,287,740.00. The disclosure for this sale can be found here. Insiders sold a total of 40,320 shares of company stock worth $2,490,287 over the last 90 days. 22.01% of the stock is owned by corporate insiders.
Shares of Choice Hotels International, Inc. (NYSE CHH) opened at 67.35 on Friday. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 24.88 and a beta of 1.12. The stock’s 50 day moving average price is $62.78 and its 200-day moving average price is $63.45. Choice Hotels International, Inc. has a 12 month low of $44.10 and a 12 month high of $67.90.
Choice Hotels International (NYSE:CHH) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.02. Choice Hotels International had a negative return on equity of 51.30% and a net margin of 16.11%. The business had revenue of $276.80 million for the quarter, compared to analyst estimates of $254.68 million. During the same period last year, the company earned $0.71 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. On average, equities research analysts predict that Choice Hotels International, Inc. will post $2.85 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Monday, October 2nd will be given a $0.215 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.86 annualized dividend and a dividend yield of 1.28%. Choice Hotels International’s dividend payout ratio is currently 31.85%.
About Choice Hotels International
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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