Natixis Raises Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Natixis increased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 105,012.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,636 shares of the financial services provider's stock after acquiring an additional 33,604 shares during the period. Natixis' holdings in Park Hotels & Resorts were worth $473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northeast Financial Group Inc. lifted its holdings in Park Hotels & Resorts by 34.4% in the 4th 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 stake in Park Hotels & Resorts by 18.4% during the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock worth $49,182,000 after acquiring an additional 540,920 shares during the last quarter. Franklin Resources Inc. raised its position in 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. Sterling Capital Management LLC lifted its stake in shares of Park Hotels & Resorts by 15.8% in the 4th quarter. Sterling Capital Management LLC now owns 33,274 shares of the financial services provider's stock valued at $468,000 after purchasing an additional 4,533 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in shares of Park Hotels & Resorts during the 4th quarter worth about $280,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PK shares. Wells Fargo & Company dropped 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. Jefferies Financial Group cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their target price for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. Morgan Stanley decreased their price target on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Finally, Evercore ISI lowered their target price on shares of Park Hotels & Resorts from $16.00 to $13.00 and set an "outperform" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $15.15.

Park Hotels & Resorts Stock Performance

PK traded up $0.05 on Monday, hitting $10.05. 4,014,950 shares of the company traded hands, compared to its average volume of 3,305,125. The company has a 50 day moving average of $10.95 and a 200-day moving average of $13.11. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.78. The stock has a market capitalization of $2.03 billion, a PE ratio of 9.95, a PEG ratio of 1.51 and a beta of 1.73. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27.

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 for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $625.00 million during the quarter, compared to analysts' expectations of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Sell-side 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. Investors of record on Monday, March 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.95%. The ex-dividend date was Monday, March 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is 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.