Park Hotels & Resorts Inc. (NYSE:PK) Stock Holdings Lessened by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 150,871 shares of the financial services provider’s stock after selling 19,389 shares during the period. New York State Common Retirement Fund’s holdings in Park Hotels & Resorts were worth $2,308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PK. Vanguard Group Inc. lifted its position in Park Hotels & Resorts by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 33,109,654 shares of the financial services provider’s stock valued at $407,911,000 after purchasing an additional 347,812 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Park Hotels & Resorts by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,728,048 shares of the financial services provider’s stock valued at $33,610,000 after purchasing an additional 72,959 shares during the last quarter. Private Management Group Inc. lifted its position in Park Hotels & Resorts by 16.6% in the 3rd quarter. Private Management Group Inc. now owns 2,212,651 shares of the financial services provider’s stock valued at $27,260,000 after purchasing an additional 314,386 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Park Hotels & Resorts by 3,694.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,355,522 shares of the financial services provider’s stock valued at $20,739,000 after purchasing an additional 1,319,800 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Park Hotels & Resorts by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,278,636 shares of the financial services provider’s stock valued at $15,753,000 after purchasing an additional 28,349 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on PK shares. Truist Financial boosted their price target on shares of Park Hotels & Resorts from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Wells Fargo & Company boosted their price target on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Citigroup upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $20.00 in a research report on Friday, March 22nd. Finally, UBS Group boosted their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.27.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $16.13 on Wednesday. The firm’s 50 day moving average is $16.98 and its 200-day moving average is $15.67. The stock has a market capitalization of $3.40 billion, a P/E ratio of 36.65, a P/E/G ratio of 0.83 and a beta of 2.03. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.48 and a quick ratio of 1.48. Park Hotels & Resorts Inc. has a 12-month low of $11.05 and a 12-month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.39. The company had revenue of $657.00 million for the quarter, compared to analysts’ expectations of $665.16 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. Equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.06 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.20%. The ex-dividend date is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 227.28%.

Park Hotels & Resorts Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.