Charles Schwab Investment Management Inc. Has $34.13 Million Holdings in Park Hotels & Resorts Inc. $PK

Key Points

• Charles Schwab Investment Management Inc. increased its position in Park Hotels & Resorts by 9.8% during the 1st quarter, owning 3,195,453 shares valued at approximately $34.13 million.
• The company reported earnings of $0.64 per share for the last quarter, exceeding analysts' expectations, but its revenue declined by 2.0% year-over-year.
• Park Hotels & Resorts recently declared a quarterly dividend of $0.25 per share, translating to an annualized yield of 9.1%.

Charles Schwab Investment Management Inc. increased its stake in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,195,453 shares of the financial services provider's stock after purchasing an additional 286,470 shares during the period. Charles Schwab Investment Management Inc. owned 1.58% of Park Hotels & Resorts worth $34,127,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. lifted its holdings in shares of Park Hotels & Resorts by 140.9% in the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider's stock worth $25,000 after purchasing an additional 1,395 shares during the last quarter. Versant Capital Management Inc lifted its stake in Park Hotels & Resorts by 11,039.1% in the first quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock valued at $27,000 after buying an additional 2,539 shares during the last quarter. Quarry LP bought a new stake in Park Hotels & Resorts in the fourth quarter valued at $35,000. GF Fund Management CO. LTD. bought a new stake in Park Hotels & Resorts in the fourth quarter valued at $53,000. Finally, GAMMA Investing LLC lifted its position in Park Hotels & Resorts by 401.2% in the 1st quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 4,229 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Park Hotels & Resorts in a research report on Monday, June 23rd. They issued an "underweight" rating and a $10.00 price objective on the stock. Citigroup reaffirmed a "buy" rating on shares of Park Hotels & Resorts in a report on Thursday, May 22nd. Truist Financial cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price target for the company from $16.00 to $11.00 in a report on Friday, May 30th. Bank of America downgraded Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price on the stock. in a research note on Wednesday, April 30th. Finally, Morgan Stanley reaffirmed an "outperform" rating on shares of Park Hotels & Resorts in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Park Hotels & Resorts currently has an average rating of "Hold" and a consensus price target of $12.11.

Park Hotels & Resorts Price Performance

Shares of PK traded up $0.6650 during midday trading on Friday, reaching $11.8350. The stock had a trading volume of 4,233,420 shares, compared to its average volume of 3,833,043. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.16 and a quick ratio of 1.16. The firm's 50 day moving average price is $10.75 and its 200-day moving average price is $10.88. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.23. The company has a market capitalization of $2.37 billion, a P/E ratio of 43.83 and a beta of 1.80.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. Park Hotels & Resorts had a net margin of 2.25% and a return on equity of 0.76%. The firm had revenue of $672.00 million for the quarter, compared to analysts' expectations of $672.37 million. During the same period in the previous year, the business earned $0.65 earnings per share. Park Hotels & Resorts's revenue for the quarter was down 2.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. On average, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date is Tuesday, September 30th. Park Hotels & Resorts's payout ratio is presently 370.37%.

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.