Everett Harris & Co. CA Grows Stock Holdings in Park Hotels & Resorts Inc (NYSE:PK)

Everett Harris & Co. CA increased its stake in shares of Park Hotels & Resorts Inc (NYSE:PK) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,535 shares of the financial services provider’s stock after buying an additional 2,200 shares during the quarter. Everett Harris & Co. CA’s holdings in Park Hotels & Resorts were worth $3,125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PK. Cohen & Steers Inc. lifted its stake in Park Hotels & Resorts by 18.9% during the fourth quarter. Cohen & Steers Inc. now owns 23,422,923 shares of the financial services provider’s stock worth $608,528,000 after purchasing an additional 3,721,425 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Park Hotels & Resorts by 14.0% in the 1st quarter. BlackRock Inc. now owns 21,489,474 shares of the financial services provider’s stock valued at $667,891,000 after acquiring an additional 2,635,511 shares during the last quarter. AJO LP lifted its stake in shares of Park Hotels & Resorts by 97.7% in the 1st quarter. AJO LP now owns 4,199,461 shares of the financial services provider’s stock valued at $130,519,000 after acquiring an additional 2,075,172 shares during the last quarter. Norges Bank bought a new position in shares of Park Hotels & Resorts in the 4th quarter valued at $50,442,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in shares of Park Hotels & Resorts by 230.0% in the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,902,122 shares of the financial services provider’s stock valued at $49,417,000 after acquiring an additional 1,325,779 shares during the last quarter.

Shares of PK traded up $0.21 during trading hours on Friday, hitting $27.56. The stock had a trading volume of 2,044,311 shares, compared to its average volume of 1,875,538. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $28.68. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 9.31, a P/E/G ratio of 2.36 and a beta of 1.38. Park Hotels & Resorts Inc has a 1-year low of $25.30 and a 1-year high of $34.27.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Monday, May 6th. The financial services provider reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The company had revenue of $659.00 million during the quarter, compared to the consensus estimate of $655.79 million. Park Hotels & Resorts had a return on equity of 7.38% and a net margin of 15.32%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.65 EPS. On average, research analysts forecast that Park Hotels & Resorts Inc will post 2.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.45 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.80 annualized dividend and a dividend yield of 6.53%. Park Hotels & Resorts’s dividend payout ratio is presently 60.81%.

PK has been the subject of several analyst reports. Capital One Financial initiated coverage on Park Hotels & Resorts in a research report on Tuesday. They set an “overweight” rating and a $34.00 target price for the company. Deutsche Bank set a $33.00 target price on Park Hotels & Resorts and gave the stock a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded Park Hotels & Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Barclays reiterated a “buy” rating and set a $35.00 price target on shares of Park Hotels & Resorts in a report on Sunday, March 3rd. Finally, TheStreet downgraded Park Hotels & Resorts from a “b-” rating to a “c” rating in a report on Wednesday, June 5th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Park Hotels & Resorts has a consensus rating of “Hold” and a consensus price target of $33.00.

About Park Hotels & Resorts

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

Featured Article: What is a portfolio manager?

Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

Receive News & Ratings for Park Hotels & Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts and related companies with MarketBeat.com's FREE daily email newsletter.