Charles Schwab Investment Management Inc. Boosts Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Charles Schwab Investment Management Inc. lifted its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,902,728 shares of the financial services provider's stock after purchasing an additional 66,093 shares during the period. Charles Schwab Investment Management Inc. owned 1.41% of Park Hotels & Resorts worth $40,928,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Park Hotels & Resorts by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,390 shares of the financial services provider's stock valued at $1,756,000 after buying an additional 6,067 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Park Hotels & Resorts by 17.9% during the first quarter. Tidal Investments LLC now owns 14,060 shares of the financial services provider's stock valued at $246,000 after purchasing an additional 2,131 shares during the last quarter. CWM LLC boosted its position in shares of Park Hotels & Resorts by 1,875.4% in the 2nd quarter. CWM LLC now owns 56,258 shares of the financial services provider's stock worth $843,000 after purchasing an additional 53,410 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Park Hotels & Resorts by 9.6% in the 2nd quarter. Sound Income Strategies LLC now owns 789,754 shares of the financial services provider's stock worth $11,831,000 after purchasing an additional 69,498 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC increased its position in Park Hotels & Resorts by 0.4% during the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider's stock valued at $3,786,000 after buying an additional 883 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Price Performance

Shares of PK traded up $0.43 during mid-day trading on Tuesday, reaching $15.81. The stock had a trading volume of 6,278,755 shares, compared to its average volume of 2,770,401. The business has a fifty day moving average of $14.49 and a 200 day moving average of $14.71. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 6.91 and a beta of 2.03. Park Hotels & Resorts Inc. has a 12 month low of $13.23 and a 12 month high of $18.05.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.21). The firm had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company's quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS. Equities analysts predict that Park Hotels & Resorts Inc. will post 1.97 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Park Hotels & Resorts's previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a yield of 16.45%. Park Hotels & Resorts's payout ratio is currently 63.69%.

Analyst Ratings Changes

PK has been the topic of a number of recent research reports. UBS Group increased their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, November 18th. Compass Point cut their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $14.50 to $16.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 26th. StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Finally, Evercore ISI decreased their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Park Hotels & Resorts has an average rating of "Hold" and an average target price of $18.23.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.