California Public Employees Retirement System Sells 50,376 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

California Public Employees Retirement System trimmed its position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 12.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 355,129 shares of the financial services provider's stock after selling 50,376 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Park Hotels & Resorts worth $4,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in Park Hotels & Resorts by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider's stock worth $1,128,000 after purchasing an additional 752 shares during the last quarter. Assetmark Inc. raised its holdings in Park Hotels & Resorts by 3.4% in the 4th quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider's stock valued at $329,000 after acquiring an additional 764 shares in the last quarter. Xponance Inc. lifted its position in shares of Park Hotels & Resorts by 3.8% in the 4th quarter. Xponance Inc. now owns 24,650 shares of the financial services provider's stock worth $347,000 after acquiring an additional 892 shares during the period. Cascade Investment Advisors Inc. grew its holdings in shares of Park Hotels & Resorts by 1.3% during the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider's stock worth $1,034,000 after purchasing an additional 915 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Park Hotels & Resorts by 0.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider's stock valued at $5,043,000 after purchasing an additional 1,011 shares during the period. Institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Trading Up 0.4 %

Park Hotels & Resorts stock traded up $0.04 during mid-day trading on Monday, hitting $9.58. 699,435 shares of the company's stock were exchanged, compared to its average volume of 4,137,343. Park Hotels & Resorts Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $17.26. 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 firm has a market capitalization of $1.93 billion, a P/E ratio of 9.48, a PEG ratio of 1.51 and a beta of 1.73. The company's 50 day simple moving average is $11.58 and its 200-day simple moving average is $13.42.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released 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). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. On average, equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.44%. Park Hotels & Resorts's payout ratio is 99.01%.

Analyst Upgrades and Downgrades

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

About Park Hotels & Resorts

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.