State of Alaska Department of Revenue recently disclosed a 0.4% reduction in its holdings of Choice Hotels International, Inc. (NYSE:CHH), according to filings with the Securities and Exchange Commission (SEC). The department now holds 61,874 shares of CHH, reflecting a decrease of 260 shares during the last quarter.
A range of institutional investors have made adjustments to their positions in CHH. Notably, JPMorgan Chase & Co. increased its holdings by 3.3%, now possessing 75,694 shares worth $10.73 million. Meanwhile, Raymond James & Associates augmented its CHH shares by 146.6%, owning 3,650 shares valued at $517,000.
Choice Hotels International experienced a minor decline in trading, marking a 1.2% decrease in its stock value. Trading on the NYSE under the ticker symbol CHH, the company opened at $126.35. With a market capitalization of $6.26 billion, CHH's performance metrics include a PE ratio of 24.97 and a beta of 1.20.
Analyzing the company's recent financials, Choice Hotels International reported quarterly earnings of $1.44 per share, surpassing analyst expectations by $0.09. Despite a 1.0% decrease in revenue compared to the previous year, CHH demonstrated a net margin of 16.74% and a return on equity of 594.23%.
In addition to its financial performance, Choice Hotels International announced a quarterly dividend to be paid on April 17th. Stockholders of record on April 2nd will receive a dividend of $0.2875 per share, equating to an annualized dividend yield of 0.91%.
Analysts have recently updated their price targets for CHH. Jefferies Financial Group upgraded CHH from an "underperform" to a "buy" rating, setting a target price of $156.00. Conversely, Barclays maintained an "underweight" rating, raising its price target to $119.00. Overall, analysts have an average rating of "Hold" for CHH with a consensus price target of $131.40.
The adjustment in Choice Hotels International shares by the State of Alaska Department of Revenue highlights dynamic shifts in institutional investment strategies. Despite fluctuations in investor sentiment, CHH's solid financial performance and dividend declaration underscore its resilience in the market. Analysts' varied perspectives on CHH's future trajectory reflect ongoing market uncertainty, influencing investor decisions in the hospitality sector.
Source: defenseworld.net