Swiss National Bank Has $6.51 Million Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Swiss National Bank reduced its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 10.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 425,197 shares of the financial services provider's stock after selling 48,800 shares during the period. Swiss National Bank owned approximately 0.20% of Park Hotels & Resorts worth $6,506,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Park Hotels & Resorts by 1.1% in the third quarter. Vanguard Group Inc. now owns 33,109,654 shares of the financial services provider's stock worth $407,911,000 after acquiring an additional 347,812 shares during the period. Donald Smith & CO. Inc. increased its position in shares of Park Hotels & Resorts by 36.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider's stock valued at $99,904,000 after buying an additional 1,728,921 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Park Hotels & Resorts by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,728,048 shares of the financial services provider's stock worth $33,610,000 after buying an additional 72,959 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Park Hotels & Resorts by 3,694.6% during 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 buying an additional 1,319,800 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake 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 acquiring an additional 28,349 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Trading Up 1.7 %

NYSE:PK traded up $0.28 on Thursday, hitting $16.41. The stock had a trading volume of 1,825,983 shares, compared to its average volume of 2,781,831. The company has a fifty day moving average price of $16.84 and a two-hundred day moving average price of $15.82. Park Hotels & Resorts Inc. has a 1-year low of $11.05 and a 1-year high of $18.05. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.20. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 0.78 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 3.08% and a net margin of 3.42%. The firm had revenue of $657.00 million for the quarter, compared to analysts' expectations of $665.16 million. Equities research analysts expect that Park Hotels & Resorts Inc. will post 2.08 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts's dividend payout ratio (DPR) is 227.28%.

Analyst Ratings Changes

PK has been the subject of a number of research analyst reports. Citigroup upgraded shares of Park Hotels & Resorts from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $14.00 to $20.00 in a research report on Friday, March 22nd. Evercore ISI raised Park Hotels & Resorts from an "in-line" rating to an "outperform" rating and increased their target price for the company from $19.00 to $20.00 in a report on Wednesday. Truist Financial raised their target price on Park Hotels & Resorts from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, March 14th. Wells Fargo & Company boosted their price target on 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. Finally, Barclays lifted their target price on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note on Friday, March 1st. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Park Hotels & Resorts has a consensus rating of "Hold" and a consensus target price of $17.50.

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.