Hsbc Holdings PLC Has $5.31 Million Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Hsbc Holdings PLC grew its position in Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 376,673 shares of the financial services provider's stock after acquiring an additional 61,315 shares during the period. Hsbc Holdings PLC owned about 0.18% of Park Hotels & Resorts worth $5,311,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PK. MetLife Investment Management LLC increased its stake in Park Hotels & Resorts by 7.1% in the fourth quarter. MetLife Investment Management LLC now owns 122,362 shares of the financial services provider's stock valued at $1,722,000 after purchasing an additional 8,067 shares during the last quarter. Natixis boosted its holdings in shares of Park Hotels & Resorts by 105,012.5% in the 4th quarter. Natixis now owns 33,636 shares of the financial services provider's stock valued at $473,000 after purchasing an additional 33,604 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Park Hotels & Resorts by 76.0% during the 4th quarter. First Trust Advisors LP now owns 346,332 shares of the financial services provider's stock valued at $4,873,000 after buying an additional 149,542 shares during the period. Epoch Investment Partners Inc. raised its position in shares of Park Hotels & Resorts by 8.8% in the 4th quarter. Epoch Investment Partners Inc. now owns 476,935 shares of the financial services provider's stock worth $6,710,000 after buying an additional 38,456 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in Park Hotels & Resorts by 2.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 428,266 shares of the financial services provider's stock valued at $6,021,000 after acquiring an additional 9,973 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Park Hotels & Resorts Stock Up 2.3 %

NYSE:PK traded up $0.24 on Friday, hitting $10.28. 6,346,758 shares of the company's stock traded hands, compared to its average volume of 3,321,355. The company has a market cap of $2.07 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.58. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average price of $10.72 and a 200-day moving average price of $13.01.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The business had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.73%. The ex-dividend date was Monday, March 31st. Park Hotels & Resorts's payout ratio is 99.01%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PK shares. UBS Group reduced their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Truist Financial decreased their price objective on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Bank of America lowered Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 target price for the company. in a report on Wednesday. Finally, Morgan Stanley reduced their price target on Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of "Hold" and an average target price of $14.60.

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.