Thrivent Financial for Lutherans Raises Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Thrivent Financial for Lutherans boosted its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 43.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 94,220 shares of the financial services provider's stock after acquiring an additional 28,379 shares during the period. Thrivent Financial for Lutherans' holdings in Park Hotels & Resorts were worth $1,326,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its position in shares of Park Hotels & Resorts by 3.6% in the fourth quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider's stock valued at $50,426,000 after purchasing an additional 125,730 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Park Hotels & Resorts by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock valued at $49,182,000 after buying an additional 540,920 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Park Hotels & Resorts by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider's stock worth $40,928,000 after buying an additional 66,093 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Park Hotels & Resorts by 26.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,443,752 shares of the financial services provider's stock worth $34,384,000 after buying an additional 518,727 shares in the last quarter. Finally, Private Management Group Inc. boosted its position in shares of Park Hotels & Resorts by 2.0% in the fourth quarter. Private Management Group Inc. now owns 2,269,849 shares of the financial services provider's stock valued at $31,937,000 after acquiring an additional 44,606 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Price Performance

NYSE PK traded down $1.16 on Thursday, reaching $9.72. 7,996,046 shares of the company's stock traded hands, compared to its average volume of 3,056,109. The stock has a market cap of $1.96 billion, a PE ratio of 9.62, a P/E/G ratio of 1.51 and a beta of 1.73. Park Hotels & Resorts Inc. has a 12 month low of $9.60 and a 12 month high of $17.87. The stock has a 50-day simple moving average of $12.23 and a 200 day simple moving average of $13.74. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51.

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). The business had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. As a group, research analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.29%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 99.01%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PK. StockNews.com downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, February 21st. Truist Financial dropped their price objective on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Jefferies Financial Group decreased their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. UBS Group dropped their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price on shares of 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $17.72.

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.