Chevy Chase Trust Holdings Inc. Lowers Stake in Wyndham Worldwide Corp. (WYN)
Chevy Chase Trust Holdings Inc. lowered its position in shares of Wyndham Worldwide Corp. (NYSE:WYN) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,845 shares of the company’s stock after selling 4,067 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Wyndham Worldwide Corp. were worth $6,184,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the stock. Palo Capital Inc. raised its position in shares of Wyndham Worldwide Corp. by 147.3% in the second quarter. Palo Capital Inc. now owns 42,058 shares of the company’s stock valued at $2,996,000 after buying an additional 25,050 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Wyndham Worldwide Corp. by 19.4% in the second quarter. Nordea Investment Management AB now owns 1,180,734 shares of the company’s stock valued at $84,104,000 after buying an additional 191,885 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services bought a new position in shares of Wyndham Worldwide Corp. during the second quarter valued at $1,301,000. Coastline Trust Co raised its position in shares of Wyndham Worldwide Corp. by 47.7% in the second quarter. Coastline Trust Co now owns 8,360 shares of the company’s stock valued at $595,000 after buying an additional 2,700 shares in the last quarter. Finally, Trust Department MB Financial Bank N A raised its position in shares of Wyndham Worldwide Corp. by 0.5% in the second quarter. Trust Department MB Financial Bank N A now owns 145,271 shares of the company’s stock valued at $10,347,000 after buying an additional 780 shares in the last quarter. 93.80% of the stock is owned by institutional investors and hedge funds.
Shares of Wyndham Worldwide Corp. (NYSE:WYN) traded down 0.93% during mid-day trading on Wednesday, reaching $72.18. 692,192 shares of the company traded hands. The stock has a market capitalization of $7.78 billion, a PE ratio of 13.84 and a beta of 1.19. The stock’s 50 day moving average is $68.59 and its 200 day moving average is $69.43. Wyndham Worldwide Corp. has a 52-week low of $60.59 and a 52-week high of $81.08.
Wyndham Worldwide Corp. (NYSE:WYN) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.02. Wyndham Worldwide Corp. had a net margin of 10.52% and a return on equity of 71.67%. The business earned $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the company earned $1.78 earnings per share. Wyndham Worldwide Corp.’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts anticipate that Wyndham Worldwide Corp. will post $5.70 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Monday, November 28th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Wednesday, November 23rd. Wyndham Worldwide Corp.’s dividend payout ratio (DPR) is currently 38.31%.
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Several research analysts have weighed in on the stock. Goldman Sachs Group Inc. assumed coverage on shares of Wyndham Worldwide Corp. in a report on Monday, September 26th. They set a “neutral” rating and a $72.00 price objective for the company. Nomura reissued a “neutral” rating and set a $69.00 price objective (down from $75.00) on shares of Wyndham Worldwide Corp. in a report on Thursday, October 27th. Finally, Zacks Investment Research lowered shares of Wyndham Worldwide Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Wyndham Worldwide Corp. currently has a consensus rating of “Hold” and an average price target of $76.00.
In related news, Director George Herrera sold 516 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $65.93, for a total transaction of $34,019.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.03% of the company’s stock.
About Wyndham Worldwide Corp.
Wyndham Worldwide Corporation is a hospitality company. The Company offers a range of hospitality services and products through its global portfolio of brands. The Company operates through three segments: Hotel Group, Destination Network and Vacation Ownership. The Hotel Group segment has approximately 7,800 hotels and over 678,000 hotel rooms around the world.
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