Park Hotels & Resorts Inc. (NYSE:PK) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can boosted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 283.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 480,199 shares of the financial services provider's stock after acquiring an additional 354,862 shares during the quarter. Bank of Montreal Can owned about 0.23% of Park Hotels & Resorts worth $6,756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. EP Wealth Advisors LLC acquired a new stake in Park Hotels & Resorts in the 3rd quarter valued at approximately $224,000. MML Investors Services LLC boosted its position in shares of Park Hotels & Resorts by 55.1% during the third quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider's stock worth $347,000 after buying an additional 8,749 shares during the period. Y Intercept Hong Kong Ltd grew its stake in shares of Park Hotels & Resorts by 81.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 42,051 shares of the financial services provider's stock valued at $593,000 after buying an additional 18,892 shares in the last quarter. Barclays PLC raised its holdings in shares of Park Hotels & Resorts by 22.4% in the 3rd quarter. Barclays PLC now owns 319,593 shares of the financial services provider's stock valued at $4,507,000 after buying an additional 58,432 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Park Hotels & Resorts during the 3rd quarter worth about $477,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PK. Jefferies Financial Group cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their price objective for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. UBS Group cut their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Wells Fargo & Company cut their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Finally, Truist Financial reduced their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $16.39.

Park Hotels & Resorts Stock Up 3.0 %

PK traded up $0.29 on Friday, reaching $9.84. The company's stock had a trading volume of 4,987,504 shares, compared to its average volume of 3,254,845. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 9.74, a P/E/G ratio of 1.51 and a beta of 1.73. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $16.95. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average of $11.31 and a two-hundred day moving average of $13.31.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. As a group, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.17%. The ex-dividend date was Monday, March 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 99.01%.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.