Price T Rowe Associates Inc. MD Boosts Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Price T Rowe Associates Inc. MD increased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 273,233 shares of the financial services provider's stock after purchasing an additional 30,325 shares during the period. Price T Rowe Associates Inc. MD owned 0.13% of Park Hotels & Resorts worth $3,845,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Donald Smith & CO. Inc. raised its stake in shares of Park Hotels & Resorts by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock worth $129,446,000 after acquiring an additional 1,122,839 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Park Hotels & Resorts by 18.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,692,233 shares of the financial services provider's stock valued at $94,160,000 after purchasing an additional 1,056,188 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Park Hotels & Resorts by 3.6% in the 4th quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider's stock worth $50,426,000 after purchasing an additional 125,730 shares in the last quarter. JPMorgan Chase & Co. increased its position in Park Hotels & Resorts by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock valued at $49,182,000 after buying an additional 540,920 shares in the last quarter. Finally, Norges Bank acquired a new stake in Park Hotels & Resorts in the fourth quarter worth about $41,087,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Evercore ISI lowered their target price on shares of Park Hotels & Resorts from $16.00 to $13.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. 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 research note on Wednesday, April 30th. UBS Group dropped their price target 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 objective on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their target price for the company from $19.00 to $10.00 in a research report on Wednesday, April 9th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $14.60.

Park Hotels & Resorts Price Performance

NYSE:PK opened at $10.28 on Monday. 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 company has a 50 day moving average price of $10.68 and a 200-day moving average price of $12.96. Park Hotels & Resorts Inc. has a 1-year low of $8.27 and a 1-year high of $16.58. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75.

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

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.73%. The ex-dividend date was Monday, March 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 99.01%.

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.

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