Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 40.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,217 shares of the financial services provider's stock after purchasing an additional 36,016 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Park Hotels & Resorts worth $1,748,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PK. KBC Group NV increased its stake in Park Hotels & Resorts by 34.4% in the third quarter. KBC Group NV now owns 7,360 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 1,882 shares during the period. Jones Financial Companies Lllp grew its stake in shares of 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 valued at $112,000 after purchasing an additional 2,373 shares during 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 bought a new position in Park Hotels & Resorts in the fourth quarter valued at approximately $141,000. Finally, Merit Financial Group LLC bought a new position in Park Hotels & Resorts in the fourth quarter valued at approximately $146,000. Institutional investors and hedge funds own 92.69% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on PK. StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, February 21st. Truist Financial dropped their price objective on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday. UBS Group lowered their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price target 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. Finally, Jefferies Financial Group lowered their price objective on shares of 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. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of "Hold" and an average price target of $17.95.
Check Out Our Latest Analysis on PK
Park Hotels & Resorts Stock Performance
Shares of PK traded down $0.41 during trading hours on Friday, hitting $11.19. The company's stock had a trading volume of 8,778,089 shares, compared to its average volume of 2,864,167. The business has a 50 day simple moving average of $12.78 and a two-hundred day simple moving average of $13.97. 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 Inc. has a 52-week low of $10.87 and a 52-week high of $18.05. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 1.51 and a beta of 2.02.
Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings data 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 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 expect 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 will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.94%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 99.01%.
Park Hotels & Resorts Company Profile
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Free Report)
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.
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