Epoch Investment Partners Inc. Has $6.71 Million Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Epoch Investment Partners Inc. lifted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 476,935 shares of the financial services provider's stock after purchasing an additional 38,456 shares during the period. Epoch Investment Partners Inc. owned approximately 0.23% of Park Hotels & Resorts worth $6,710,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PK. Northeast Financial Group Inc. grew its position in Park Hotels & Resorts by 34.4% during the fourth quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider's stock valued at $1,754,000 after purchasing an additional 31,928 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Park Hotels & Resorts by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock valued at $49,182,000 after acquiring an additional 540,920 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Park Hotels & Resorts by 43.6% in the third quarter. Franklin Resources Inc. now owns 687,580 shares of the financial services provider's stock valued at $9,936,000 after purchasing an additional 208,877 shares during the period. Oak Thistle LLC bought a new stake in Park Hotels & Resorts during the fourth quarter valued at about $280,000. Finally, MML Investors Services LLC boosted its stake in Park Hotels & Resorts by 55.1% during the 3rd quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider's stock valued at $347,000 after purchasing an additional 8,749 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Analysts Set New Price Targets

PK has been the subject of several research reports. StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their target price for the stock from $19.00 to $10.00 in a research note on Wednesday, April 9th. Truist Financial lowered their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a report on Friday, March 21st. Morgan Stanley lowered their price target on Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday. Finally, UBS Group dropped their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Park Hotels & Resorts currently has an average rating of "Hold" and an average target price of $15.75.

Park Hotels & Resorts Stock Up 1.1 %

Shares of NYSE:PK traded up $0.11 during midday trading on Thursday, reaching $10.00. The company had a trading volume of 2,850,993 shares, compared to its average volume of 4,268,227. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year 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 business's 50 day moving average price is $11.07 and its 200 day moving average price is $13.19. The stock has a market cap of $2.02 billion, a PE ratio of 9.90, a P/E/G ratio of 1.51 and a beta of 1.73.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced 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). The company had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. Research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 10.01%. The ex-dividend date was Monday, March 31st. 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.