Thrivent Financial for Lutherans Purchases 28,379 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Thrivent Financial for Lutherans boosted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 43.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,220 shares of the financial services provider’s stock after buying an additional 28,379 shares during the period. Thrivent Financial for Lutherans’ holdings in Park Hotels & Resorts were worth $1,326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Corient Private Wealth LLC bought a new position in shares of Park Hotels & Resorts in the 4th quarter worth $279,000. Natixis Advisors LLC grew its position in Park Hotels & Resorts by 14.0% in the fourth quarter. Natixis Advisors LLC now owns 17,447 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 2,142 shares in the last quarter. Wealthfront Advisers LLC bought a new position in Park Hotels & Resorts in the fourth quarter valued at $541,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Park Hotels & Resorts by 40.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 124,217 shares of the financial services provider’s stock valued at $1,748,000 after purchasing an additional 36,016 shares in the last quarter. Finally, Kendall Capital Management lifted its stake in Park Hotels & Resorts by 10.4% during the fourth quarter. Kendall Capital Management now owns 15,405 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 1,450 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PK. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Truist Financial reduced their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Jefferies Financial Group lowered their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company cut their price objective on shares of 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, UBS Group decreased their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.72.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $10.90 on Monday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. Park Hotels & Resorts Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $17.87. The firm has a market cap of $2.20 billion, a P/E ratio of 10.79, a P/E/G ratio of 1.51 and a beta of 2.02. The business’s 50 day moving average price is $12.48 and its 200-day moving average price is $13.83.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share 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 company had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. On average, equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 9.18%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 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.