Blue Zone Wealth Advisors LLC Grows Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Blue Zone Wealth Advisors LLC boosted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 2.4% in the 1st quarter, HoldingsChannel reports. The fund owned 251,854 shares of the financial services provider’s stock after buying an additional 5,825 shares during the quarter. Park Hotels & Resorts accounts for 1.5% of Blue Zone Wealth Advisors LLC’s portfolio, making the stock its 29th biggest position. Blue Zone Wealth Advisors LLC’s holdings in Park Hotels & Resorts were worth $4,405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in Park Hotels & Resorts by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 33,109,654 shares of the financial services provider’s stock valued at $407,911,000 after purchasing an additional 347,812 shares during the period. Donald Smith & CO. Inc. increased its stake in shares of Park Hotels & Resorts by 36.0% in the 4th quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock worth $99,904,000 after acquiring an additional 1,728,921 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Park Hotels & Resorts by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,741,521 shares of the financial services provider’s stock valued at $41,945,000 after acquiring an additional 13,473 shares during the period. Los Angeles Capital Management LLC boosted its stake in Park Hotels & Resorts by 601.1% during the first quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock worth $36,921,000 after acquiring an additional 1,809,886 shares in the last quarter. Finally, Norges Bank purchased a new stake in Park Hotels & Resorts in the fourth quarter worth about $31,745,000. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK traded up $0.34 during midday trading on Friday, hitting $14.98. 2,540,429 shares of the stock traded hands, compared to its average volume of 2,739,056. The firm has a market capitalization of $3.15 billion, a P/E ratio of 34.05, a PEG ratio of 0.73 and a beta of 2.01. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a 50-day moving average of $15.68 and a two-hundred day moving average of $16.13.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.17). The firm had revenue of $639.00 million during the quarter, compared to the consensus estimate of $630.46 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. On average, equities analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 28th. This represents a $1.00 annualized dividend and a yield of 6.68%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 227.27%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wedbush reiterated a “neutral” rating and set a $17.00 target price on shares of Park Hotels & Resorts in a report on Tuesday, May 28th. Barclays lifted their price objective on Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Wells Fargo & Company increased their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. UBS Group lifted their price target on Park Hotels & Resorts from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Finally, Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $20.00 in a research report on Friday, March 22nd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.83.

Park Hotels & Resorts Profile

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.