Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Park Hotels & Resorts (NYSE:PK) by 27.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,416 shares of the financial services provider’s stock after acquiring an additional 3,782 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Park Hotels & Resorts were worth $471,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Park Hotels & Resorts by 2,193.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,784 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 3,619 shares in the last quarter. American International Group Inc. lifted its holdings in Park Hotels & Resorts by 170.0% during the 4th quarter. American International Group Inc. now owns 4,773 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 3,005 shares in the last quarter. Omnia Family Wealth LLC lifted its holdings in Park Hotels & Resorts by 172.1% during the 4th quarter. Omnia Family Wealth LLC now owns 5,025 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 3,178 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Park Hotels & Resorts during the 4th quarter worth about $202,000. Finally, Comerica Bank purchased a new stake in Park Hotels & Resorts during the 1st quarter worth about $203,000.
A number of brokerages recently issued reports on PK. ValuEngine cut Park Hotels & Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Saturday, May 12th. Boenning Scattergood reissued a “hold” rating on shares of Park Hotels & Resorts in a report on Monday, May 7th. Nomura dropped their price objective on Park Hotels & Resorts from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 1st. Finally, JPMorgan Chase reissued an “overweight” rating and set a $28.00 price objective (down previously from $30.00) on shares of Park Hotels & Resorts in a report on Monday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $37.45.
NYSE:PK opened at $30.94 on Friday. Park Hotels & Resorts has a twelve month low of $23.91 and a twelve month high of $30.98. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 2.17 and a beta of 0.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.35 and a current ratio of 1.35.
Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, May 3rd. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.08. Park Hotels & Resorts had a return on equity of 6.57% and a net margin of 15.31%. The firm had revenue of $668.00 million for the quarter, compared to analysts’ expectations of $646.90 million. During the same quarter last year, the firm posted $0.64 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. research analysts expect that Park Hotels & Resorts will post 2.8 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.72 annualized dividend and a dividend yield of 5.56%. Park Hotels & Resorts’s payout ratio is currently 61.87%.
In other Park Hotels & Resorts news, EVP Matthew Abram Sparks sold 12,877 shares of the firm’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $29.87, for a total value of $384,635.99. Following the sale, the executive vice president now owns 46,931 shares of the company’s stock, valued at approximately $1,401,828.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.38% of the company’s stock.
Park Hotels & Resorts Company Profile
Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 55 premium-branded hotels and resorts with over 32,000 rooms located in prime United States and international markets with high barriers to entry.
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