Park Hotels & Resorts Inc. (NYSE:PK) Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. trimmed its holdings in Park Hotels & Resorts Inc. (NYSE:PKFree Report) by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 590,509 shares of the financial services provider’s stock after selling 67,878 shares during the period. Epoch Investment Partners Inc. owned about 0.28% of Park Hotels & Resorts worth $9,035,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cascade Investment Advisors Inc. grew its stake in Park Hotels & Resorts by 1.1% during the 4th quarter. Cascade Investment Advisors Inc. now owns 66,222 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 725 shares during the last quarter. Signaturefd LLC boosted its stake in Park Hotels & Resorts by 12.7% during the fourth quarter. Signaturefd LLC now owns 6,437 shares of the financial services provider’s stock valued at $98,000 after buying an additional 727 shares in the last quarter. Truist Financial Corp boosted its stake in Park Hotels & Resorts by 3.8% during the fourth quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider’s stock valued at $342,000 after buying an additional 816 shares in the last quarter. Spire Wealth Management boosted its stake in Park Hotels & Resorts by 20.1% during the third quarter. Spire Wealth Management now owns 5,145 shares of the financial services provider’s stock valued at $63,000 after buying an additional 860 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Park Hotels & Resorts by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 94,701 shares of the financial services provider’s stock valued at $1,449,000 after buying an additional 920 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Stock Performance

Shares of PK stock traded down $0.31 during mid-day trading on Friday, reaching $14.92. The stock had a trading volume of 3,158,244 shares, compared to its average volume of 2,254,832. The firm’s 50 day simple moving average is $16.33 and its 200 day simple moving average is $16.11. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.20. Park Hotels & Resorts Inc. has a one year low of $11.05 and a one year high of $18.05. The firm has a market cap of $3.14 billion, a PE ratio of 33.90, a P/E/G ratio of 0.74 and a beta of 2.01.

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

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.00 annualized dividend and a yield of 6.70%. Park Hotels & Resorts’s payout ratio is 227.28%.

Analyst Ratings Changes

PK has been the subject of several analyst reports. Citigroup raised Park Hotels & Resorts from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.00 to $20.00 in a report on Friday, March 22nd. Wedbush reissued a “neutral” rating and issued a $17.00 price objective on shares of Park Hotels & Resorts in a research note on Tuesday, May 28th. Evercore ISI raised Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $19.00 to $20.00 in a research note on Wednesday, May 15th. Truist Financial reduced their price objective on Park Hotels & Resorts from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.83.

Read Our Latest Stock Analysis on PK

About Park Hotels & Resorts

(Free Report)

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.

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

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