Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,447,449 shares of the financial services provider's stock after selling 1,857,274 shares during the quarter. Vanguard Group Inc. owned approximately 14.75% of Park Hotels & Resorts worth $428,396,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in Park Hotels & Resorts by 42.2% during the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock valued at $112,000 after buying an additional 2,373 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Park Hotels & Resorts during the third quarter valued at approximately $116,000. Plato Investment Management Ltd purchased a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $141,000. KBC Group NV grew its stake 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 worth $141,000 after purchasing an additional 2,663 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in Park Hotels & Resorts during the 4th quarter worth $146,000. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Stock Down 3.3 %

NYSE PK traded down $0.32 during trading on Friday, hitting $9.40. The company's stock had a trading volume of 8,694,072 shares, compared to its average volume of 3,087,761. Park Hotels & Resorts Inc. has a fifty-two week low of $8.73 and a fifty-two week high of $17.87. The company has a market cap of $1.90 billion, a PE ratio of 9.31, a P/E/G ratio of 1.51 and a beta of 1.73. 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 business's 50 day simple moving average is $12.14 and its 200-day simple moving average is $13.70.

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 analysts' consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The company had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. On average, equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal 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 paid a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.64%. Park Hotels & Resorts's dividend payout ratio (DPR) is 99.01%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PK. StockNews.com downgraded Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, February 21st. Jefferies Financial Group cut their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. Truist Financial reduced their price target 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. Wells Fargo & Company cut their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Finally, UBS Group lowered their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $17.72.

Park Hotels & Resorts 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.