Canada Pension Plan Investment Board Sells 282,000 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Canada Pension Plan Investment Board trimmed its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 86.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,000 shares of the financial services provider's stock after selling 282,000 shares during the quarter. Canada Pension Plan Investment Board's holdings in Park Hotels & Resorts were worth $619,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PK. Quadrant Capital Group LLC increased its position in Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock worth $68,000 after purchasing an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Park Hotels & Resorts by 42.2% during the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock worth $112,000 after buying an additional 2,373 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Park Hotels & Resorts during the fourth quarter worth $112,000. Plato Investment Management Ltd bought a new position in shares of Park Hotels & Resorts in the 4th quarter valued at $141,000. Finally, KBC Group NV boosted its holdings in shares of Park Hotels & Resorts by 36.2% during the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock valued at $141,000 after acquiring an additional 2,663 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PK has been the subject of a number of recent research reports. Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their target price for the stock from $19.00 to $10.00 in a report on Wednesday, April 9th. StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, April 10th. Morgan Stanley cut their target price on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, UBS Group cut their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $15.15.

Park Hotels & Resorts Trading Up 0.5 %

PK traded up $0.05 during trading on Monday, reaching $10.05. 4,014,950 shares of the stock traded hands, compared to its average volume of 3,305,125. The stock's 50-day moving average is $10.95 and its 200 day moving average is $13.11. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.78. 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 market capitalization of $2.03 billion, a PE ratio of 9.95, a P/E/G ratio of 1.51 and a beta of 1.73.

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

Park Hotels & Resorts Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.95%. Park Hotels & Resorts's dividend payout ratio 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.