Northern Trust Corp Boosts Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Northern Trust Corp raised its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 38.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,742,348 shares of the financial services provider's stock after purchasing an additional 767,818 shares during the quarter. Northern Trust Corp owned 1.33% of Park Hotels & Resorts worth $38,585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in Park Hotels & Resorts by 0.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider's stock valued at $1,128,000 after purchasing an additional 752 shares during the period. Assetmark Inc. grew its stake in shares of Park Hotels & Resorts by 3.4% in the fourth quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider's stock valued at $329,000 after buying an additional 764 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Park Hotels & Resorts by 7.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider's stock valued at $168,000 after buying an additional 813 shares during the period. Xponance Inc. lifted its position in Park Hotels & Resorts by 3.8% during the 4th quarter. Xponance Inc. now owns 24,650 shares of the financial services provider's stock worth $347,000 after acquiring an additional 892 shares in the last quarter. Finally, Cascade Investment Advisors Inc. boosted its holdings in Park Hotels & Resorts by 1.3% in the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider's stock worth $1,034,000 after acquiring an additional 915 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on PK. Bank of America cut shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price on the stock. in a research report on Wednesday, April 30th. StockNews.com downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. UBS Group cut 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 report on Monday, February 3rd. Evercore ISI decreased their price objective on shares of Park Hotels & Resorts from $16.00 to $13.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Finally, Wells Fargo & Company cut their target price 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Park Hotels & Resorts currently has an average rating of "Hold" and a consensus price target of $14.60.

Park Hotels & Resorts Trading Down 0.4 %

NYSE:PK opened at $10.37 on Friday. The firm has a market capitalization of $2.09 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.51 and a beta of 1.75. The business has a 50 day simple moving average of $10.48 and a 200 day simple moving average of $12.85. 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 12-month low of $8.27 and a 12-month high of $16.58.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company had revenue of $630.00 million during the quarter, compared to the consensus estimate of $620.17 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. Equities research analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.64%. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 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.

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