By otakuyassine3@gmail.com 
Vanguard Group Inc. trimmed its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK – Free Report) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing 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 period. Vanguard Group Inc. owned about 14.75% of Park Hotels & Resorts worth $428,396,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in Park Hotels & Resorts by 0.9% during the fourth 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. boosted its position in shares of Park Hotels & Resorts by 3.4% in the 4th quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock worth $329,000 after buying an additional 764 shares in the last quarter. Xponance Inc. grew its stake in Park Hotels & Resorts by 3.8% in the 4th quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 892 shares during the last quarter. Cascade Investment Advisors Inc. increased its holdings in 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 valued at $1,034,000 after acquiring an additional 915 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in 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 worth $5,043,000 after acquiring an additional 1,011 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.
Park Hotels & Resorts Stock Performance
Shares of PK stock opened at $10.76 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02. Park Hotels & Resorts Inc. has a one year low of $10.46 and a one year high of $17.87. The company has a 50 day moving average price of $12.36 and a 200 day moving average price of $13.79.
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 return on equity of 5.63% and a net margin of 8.16%. The firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS 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. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.30%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s payout ratio is currently 99.01%.
Wall Street Analyst Weigh In
Several analysts have recently commented on PK shares. Jefferies Financial Group lowered their price target 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. UBS Group cut their price target 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. Truist Financial decreased their price objective on 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. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Finally, 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 for the company in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.72.
Check Out Our Latest Report on Park Hotels & Resorts
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.
See Also
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