Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 65.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 240,548 shares of the financial services provider's stock after selling 447,032 shares during the quarter. Franklin Resources Inc. owned 0.12% of Park Hotels & Resorts worth $3,385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PK. Jones Financial Companies Lllp boosted its stake in 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 period. CIBC Private Wealth Group LLC acquired a new stake in Park Hotels & Resorts in the 4th quarter valued at approximately $112,000. KBC Group NV raised its position in Park Hotels & Resorts by 36.2% in the fourth quarter. KBC Group NV now owns 10,023 shares of the financial services provider's stock valued at $141,000 after purchasing an additional 2,663 shares during the period. Plato Investment Management Ltd purchased a new stake in Park Hotels & Resorts in the fourth quarter valued at approximately $141,000. Finally, Merit Financial Group LLC acquired a new position in Park Hotels & Resorts during the fourth quarter worth $146,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Up 2.2 %

Shares of Park Hotels & Resorts stock traded up $0.21 during trading on Thursday, hitting $9.76. 874,022 shares of the stock were exchanged, compared to its average volume of 3,234,692. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. The firm's 50-day moving average price is $11.37 and its 200 day moving average price is $13.34. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73. Park Hotels & Resorts Inc. has a 12-month low of $8.27 and a 12-month high of $16.95.

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

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 10.24%. The ex-dividend date was Monday, March 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is 99.01%.

Analysts Set New Price Targets

Several research firms recently issued reports on PK. Wells Fargo & Company decreased their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. UBS Group dropped their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. Truist Financial cut their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Jefferies Financial Group cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their price target for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. Finally, StockNews.com lowered Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $16.39.

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.