Southeastern Asset Management Inc. TN Decreases Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Southeastern Asset Management Inc. TN trimmed its position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,310,978 shares of the financial services provider's stock after selling 69,921 shares during the quarter. Park Hotels & Resorts accounts for approximately 1.5% of Southeastern Asset Management Inc. TN's holdings, making the stock its 24th largest position. Southeastern Asset Management Inc. TN owned approximately 1.12% of Park Hotels & Resorts worth $32,515,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quantinno Capital Management LP boosted its stake in shares of Park Hotels & Resorts by 26.8% during the 4th quarter. Quantinno Capital Management LP now owns 61,382 shares of the financial services provider's stock worth $864,000 after acquiring an additional 12,990 shares during the last quarter. Man Group plc raised its position in shares of Park Hotels & Resorts by 374.5% during the 4th quarter. Man Group plc now owns 496,647 shares of the financial services provider's stock valued at $6,988,000 after buying an additional 391,979 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Park Hotels & Resorts by 3.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 32,929 shares of the financial services provider's stock valued at $491,000 after acquiring an additional 1,139 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Park Hotels & Resorts during the fourth quarter worth approximately $385,000. Finally, Nuveen Asset Management LLC boosted its stake in shares of Park Hotels & Resorts by 17.9% during the 4th quarter. Nuveen Asset Management LLC now owns 758,848 shares of the financial services provider's stock worth $10,677,000 after purchasing an additional 114,989 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PK shares. 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 report on Tuesday, February 18th. StockNews.com downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Truist Financial decreased their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Morgan Stanley dropped their price objective on Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Evercore ISI lowered Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 target price for the company. in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $14.60.

Park Hotels & Resorts Stock Down 2.1%

Shares of PK traded down $0.23 during midday trading on Wednesday, hitting $10.37. 889,905 shares of the company's stock traded hands, compared to its average volume of 3,414,140. 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 stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.42. The firm's fifty day moving average is $10.36 and its 200-day moving average is $12.69.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $630.00 million for the quarter, compared to analyst estimates of $620.17 million. During the same quarter in the prior year, the business posted $0.52 EPS. Park Hotels & Resorts's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.25 dividend. 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 9.65%. Park Hotels & Resorts's payout ratio is currently 169.49%.

Park Hotels & Resorts 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.