Park Hotels & Resorts Inc. (NYSE:PK) Stock Position Increased by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its position in Park Hotels & Resorts Inc. (NYSE:PK) by 149.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 470,917 shares of the financial services provider’s stock after purchasing an additional 281,967 shares during the period. Russell Investments Group Ltd. owned approximately 0.22% of Park Hotels & Resorts worth $7,205,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PK. Truist Financial Corp lifted its holdings in shares of Park Hotels & Resorts by 3.8% in 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 during the period. Stevens Capital Management LP bought a new position in shares of Park Hotels & Resorts during the 4th quarter valued at about $307,000. Yousif Capital Management LLC grew its stake in shares of Park Hotels & Resorts by 3.1% in the 4th quarter. Yousif Capital Management LLC now owns 86,109 shares of the financial services provider’s stock worth $1,317,000 after purchasing an additional 2,582 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Park Hotels & Resorts by 3,694.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,355,522 shares of the financial services provider’s stock worth $20,739,000 after purchasing an additional 1,319,800 shares in the last quarter. Finally, Signaturefd LLC lifted 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 purchasing an additional 727 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Truist Financial increased their price target on Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Citigroup upgraded Park Hotels & Resorts from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $20.00 in a report on Friday, March 22nd. Wells Fargo & Company raised their target price on shares of Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Finally, Barclays boosted their target price on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and an average price target of $17.27.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $16.13 on Wednesday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 36.65, a price-to-earnings-growth ratio of 0.83 and a beta of 2.03. The company’s fifty day moving average is $16.98 and its 200-day moving average is $15.67. 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 12 month low of $11.05 and a 12 month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.49 by $0.39. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. The firm had revenue of $657.00 million for the quarter, compared to the consensus estimate of $665.16 million. Equities analysts expect that Park Hotels & Resorts Inc. will post 2.06 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders 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 dividend on an annualized basis and a yield of 6.20%. Park Hotels & Resorts’s payout ratio is currently 227.28%.

About Park Hotels & Resorts

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.