Treasurer of the State of North Carolina Lowers Position in Park Hotels & Resorts Inc. (NYSE:PK)

Treasurer of the State of North Carolina decreased its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,519 shares of the financial services provider’s stock after selling 1,220 shares during the period. Treasurer of the State of North Carolina’s holdings in Park Hotels & Resorts were worth $1,260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PK. Quadrant Capital Group LLC grew its holdings in shares of Park Hotels & Resorts by 38.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Park Hotels & Resorts by 42.2% during the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 2,373 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in Park Hotels & Resorts in the 4th quarter worth approximately $112,000. KBC Group NV increased its holdings in shares of Park Hotels & Resorts by 36.2% in the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock worth $141,000 after buying an additional 2,663 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new position in shares of Park Hotels & Resorts in the 4th quarter worth $141,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Trading Up 3.0 %

NYSE:PK opened at $9.84 on Friday. The firm has a market capitalization of $1.99 billion, a P/E ratio of 9.74, a P/E/G ratio of 1.51 and a beta of 1.73. 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 company has a fifty day moving average of $11.31 and a 200 day moving average of $13.31. Park Hotels & Resorts Inc. has a 52 week low of $8.27 and a 52 week high of $16.95.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. On average, research analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share 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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.17%. Park Hotels & Resorts’s dividend payout ratio is currently 99.01%.

Analyst Ratings Changes

Several brokerages recently issued reports on PK. Truist Financial cut their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Wells Fargo & Company decreased their price objective 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. Jefferies Financial Group lowered Park Hotels & Resorts from a “buy” rating to a “hold” rating and cut their target price for the stock from $19.00 to $10.00 in a research note on Wednesday, April 9th. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, April 10th. Finally, UBS Group cut their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and a consensus price target of $16.39.

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.