Fmr LLC Trims Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

FMR LLC lessened its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 96.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,779 shares of the financial services provider's stock after selling 535,993 shares during the period. FMR LLC's holdings in Park Hotels & Resorts were worth $293,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Arizona State Retirement System grew its holdings in Park Hotels & Resorts by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider's stock worth $883,000 after acquiring an additional 1,232 shares in the last quarter. Bfsg LLC boosted its stake in shares of Park Hotels & Resorts by 8.7% during the third quarter. Bfsg LLC now owns 15,440 shares of the financial services provider's stock valued at $218,000 after purchasing an additional 1,235 shares in the last quarter. Kendall Capital Management increased its holdings in Park Hotels & Resorts by 11.0% during the second quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider's stock valued at $226,000 after buying an additional 1,500 shares during the period. United Services Automobile Association raised its stake in Park Hotels & Resorts by 10.5% in the second quarter. United Services Automobile Association now owns 15,826 shares of the financial services provider's stock worth $237,000 after buying an additional 1,509 shares in the last quarter. Finally, Quarry LP lifted its holdings in Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider's stock worth $62,000 after buying an additional 1,857 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

PK stock traded up $0.38 during trading on Friday, hitting $14.85. 7,690,578 shares of the company traded hands, compared to its average volume of 2,817,115. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. Park Hotels & Resorts Inc. has a 1 year low of $13.23 and a 1 year high of $18.05. The stock's 50-day simple moving average is $14.77 and its 200 day simple moving average is $14.66. The company has a market cap of $3.07 billion, a PE ratio of 9.46, a P/E/G ratio of 6.90 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $649.00 million during the quarter, compared to analysts' expectations of $646.15 million. During the same period in the previous year, the firm posted $0.51 EPS. The firm's quarterly revenue was down 4.4% on a year-over-year basis. On average, equities analysts expect that Park Hotels & Resorts Inc. will post 1.96 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.65 per share. The ex-dividend date 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 17.51%. Park Hotels & Resorts's dividend payout ratio is currently 63.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PK shares. Compass Point reduced their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Bank of America reduced their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a "neutral" rating for the company in a research note on Monday, October 21st. Wolfe Research downgraded shares of Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 26th. UBS Group lifted their price target on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Monday, November 18th. Finally, StockNews.com lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts presently has a consensus rating of "Hold" and a consensus price target of $18.55.

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.