Thrivent Financial for Lutherans Boosts Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Thrivent Financial for Lutherans boosted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 43.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 94,220 shares of the financial services provider’s stock after purchasing an additional 28,379 shares during the period. Thrivent Financial for Lutherans’ holdings in Park Hotels & Resorts were worth $1,326,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PK. Wealth Enhancement Advisory Services LLC raised its holdings in Park Hotels & Resorts by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock worth $1,128,000 after acquiring an additional 752 shares during the last quarter. Assetmark Inc. raised its stake in shares of Park Hotels & Resorts by 3.4% in the fourth quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 764 shares during the last quarter. Cascade Investment Advisors Inc. lifted its holdings in shares of Park Hotels & Resorts by 1.3% during the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock valued at $1,034,000 after purchasing an additional 915 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Park Hotels & Resorts by 0.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 338,032 shares of the financial services provider’s stock valued at $5,043,000 after buying an additional 1,011 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in Park Hotels & Resorts by 5.5% in the 3rd quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock worth $275,000 after buying an additional 1,020 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on PK. Jefferies Financial Group lowered their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Truist Financial dropped their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 21st. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. UBS Group lowered their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus price target of $17.72.

Park Hotels & Resorts Stock Down 2.3 %

Park Hotels & Resorts stock opened at $10.90 on Monday. Park Hotels & Resorts Inc. has a twelve month low of $10.84 and a twelve month high of $17.87. The business has a fifty day moving average of $12.48 and a two-hundred day moving average of $13.83. The firm has a market cap of $2.20 billion, a P/E ratio of 10.79, a P/E/G ratio of 1.51 and a beta of 2.02. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The firm had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. On average, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.18%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is 99.01%.

Park Hotels & Resorts 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.