Vestcor Inc Reduces Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Vestcor Inc decreased its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 189,148 shares of the financial services provider’s stock after selling 14,304 shares during the quarter. Vestcor Inc owned about 0.09% of Park Hotels & Resorts worth $2,661,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC boosted its holdings 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 during the last quarter. KBC Group NV lifted its holdings in Park Hotels & Resorts by 34.4% in the third quarter. KBC Group NV now owns 7,360 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 1,882 shares during the last quarter. Jones Financial Companies Lllp grew its position in Park Hotels & Resorts by 42.2% in the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 2,373 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Park Hotels & Resorts during the third quarter worth $116,000. Finally, Plato Investment Management Ltd purchased a new stake in Park Hotels & Resorts in the fourth quarter valued at $141,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 4.1 %

Park Hotels & Resorts stock opened at $11.35 on Friday. The stock has a market cap of $2.29 billion, a PE ratio of 11.23, a P/E/G ratio of 1.51 and a beta of 2.02. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. The stock’s fifty day moving average is $12.94 and its two-hundred day moving average is $14.06. Park Hotels & Resorts Inc. has a 1-year low of $10.87 and a 1-year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its 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). The business had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. On average, sell-side analysts expect that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PK shares. UBS Group dropped their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company cut their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Jefferies Financial Group lowered their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.15.

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.