KBC Group NV Increases Stock Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

KBC Group NV increased its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 36.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,023 shares of the financial services provider’s stock after buying an additional 2,663 shares during the quarter. KBC Group NV’s holdings in Park Hotels & Resorts were worth $141,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. XTX Topco Ltd grew its stake in shares of Park Hotels & Resorts by 420.7% in the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock worth $1,257,000 after acquiring an additional 72,044 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Park Hotels & Resorts by 488.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider’s stock worth $1,177,000 after purchasing an additional 69,296 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Park Hotels & Resorts by 321.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock worth $19,875,000 after purchasing an additional 1,075,255 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after buying an additional 1,484,295 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Park Hotels & Resorts by 18.4% in 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 during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America reduced their target price on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. UBS Group reduced their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday. Compass Point lowered their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company increased their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Finally, StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and an average target price of $18.45.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $13.19 on Friday. The company has a 50-day moving average price of $14.40 and a two-hundred day moving average price of $14.45. Park Hotels & Resorts Inc. has a twelve month low of $12.80 and a twelve month high of $18.05. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $2.72 billion, a PE ratio of 8.40 and a beta of 2.00.

Park Hotels & Resorts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 19.72%. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, December 31st. Park Hotels & Resorts’s payout ratio is currently 63.69%.

About Park Hotels & Resorts

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.