Jones Financial Companies Lllp Raises Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Jones Financial Companies Lllp lifted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 42.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,992 shares of the financial services provider’s stock after buying an additional 2,373 shares during the period. Jones Financial Companies Lllp’s holdings in Park Hotels & Resorts were worth $112,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Assetmark Inc. increased its stake in Park Hotels & Resorts by 59.5% in the 3rd quarter. Assetmark Inc. now owns 22,591 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 8,429 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,841 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Park Hotels & Resorts by 345.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,035,082 shares of the financial services provider’s stock valued at $14,595,000 after purchasing an additional 802,939 shares in the last quarter. Victory Capital Management Inc. increased its stake in Park Hotels & Resorts by 21.5% in the 3rd quarter. Victory Capital Management Inc. now owns 109,002 shares of the financial services provider’s stock valued at $1,537,000 after purchasing an additional 19,273 shares in the last quarter. Finally, KBC Group NV increased its stake in Park Hotels & Resorts by 34.4% in the 3rd quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,882 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PK shares. Jefferies Financial Group lowered their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. UBS Group lowered their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price 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. Finally, StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.15.

Park Hotels & Resorts Price Performance

PK stock opened at $11.35 on Friday. Park Hotels & Resorts Inc. has a 52-week low of $10.87 and a 52-week high of $18.05. The stock’s fifty day simple moving average is $12.94 and its 200-day simple moving average is $14.06. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data 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 return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Equities research analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.81%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s payout ratio is currently 99.01%.

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.