Blue Zone Wealth Advisors LLC Has $3.17 Million Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Blue Zone Wealth Advisors LLC raised its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 10.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 296,928 shares of the financial services provider's stock after acquiring an additional 29,118 shares during the period. Blue Zone Wealth Advisors LLC owned about 0.15% of Park Hotels & Resorts worth $3,171,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of PK. Quarry LP bought a new stake in shares of Park Hotels & Resorts during the 4th quarter worth approximately $35,000. Versant Capital Management Inc raised its stake in shares of Park Hotels & Resorts by 11,039.1% during the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock worth $27,000 after purchasing an additional 2,539 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Park Hotels & Resorts during the 4th quarter worth approximately $53,000. Quadrant Capital Group LLC raised its stake in shares of Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock worth $68,000 after purchasing an additional 1,335 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Park Hotels & Resorts by 42.2% during the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock worth $112,000 after purchasing an additional 2,373 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PK shares. Truist Financial cut Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $16.00 to $11.00 in a research note on Friday, May 30th. Morgan Stanley decreased their target price on Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Evercore ISI lowered Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 target price on the stock. in a report on Friday, May 16th. Citigroup reissued a "buy" rating on shares of Park Hotels & Resorts in a report on Thursday, May 22nd. Finally, Jefferies Financial Group lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their target price for the stock from $19.00 to $10.00 in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $12.75.

Park Hotels & Resorts Stock Performance

NYSE PK traded up $0.25 on Friday, reaching $10.27. The stock had a trading volume of 3,067,789 shares, compared to its average volume of 3,531,140. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. The firm has a fifty day moving average of $10.09 and a two-hundred day moving average of $12.30. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.23. The company has a market cap of $2.05 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.74.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The financial services provider reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm had revenue of $630.00 million for the quarter, compared to analyst estimates of $620.17 million. During the same period in the prior year, the firm posted $0.52 EPS. The company's revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.74%. The ex-dividend date is Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 169.49%.

About Park Hotels & Resorts

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.