State of Wyoming Sells 9,138 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

State of Wyoming lessened its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 33.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,435 shares of the financial services provider’s stock after selling 9,138 shares during the period. State of Wyoming’s holdings in Park Hotels & Resorts were worth $259,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PK. Norges Bank bought a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at $41,087,000. Deutsche Bank AG boosted its holdings in shares of Park Hotels & Resorts by 809.3% during the 4th quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider’s stock valued at $33,988,000 after buying an additional 2,149,972 shares in the last quarter. Landmark Investment Partners L.P. bought a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at $21,342,000. Invesco Ltd. boosted its holdings in shares of Park Hotels & Resorts by 84.0% during the 4th quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider’s stock valued at $39,929,000 after buying an additional 1,295,548 shares in the last quarter. Finally, Donald Smith & CO. Inc. boosted its holdings in shares of Park Hotels & Resorts by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider’s stock valued at $129,446,000 after buying an additional 1,122,839 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

PK opened at $10.19 on Friday. Park Hotels & Resorts Inc. has a 1 year low of $8.27 and a 1 year high of $16.28. The stock has a 50-day moving average price of $10.28 and a 200-day moving average price of $12.62. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. The firm has a market cap of $2.04 billion, a PE ratio of 10.09, a P/E/G ratio of 1.51 and a beta of 1.75.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $630.00 million during the quarter, compared to analyst estimates of $620.17 million. During the same quarter in the previous year, the firm earned $0.52 EPS. Park Hotels & Resorts’s revenue was down 1.4% on a year-over-year basis. Sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.81%. The ex-dividend date of this dividend is Monday, June 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is 169.49%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PK. UBS Group dropped their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company lowered their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Truist Financial lowered their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Citigroup reaffirmed a “buy” rating on shares of Park Hotels & Resorts in a research report on Thursday. Finally, Evercore ISI lowered Park Hotels & Resorts from an “outperform” rating to an “in-line” rating and set a $13.00 price target for the company. in a research report on Friday, May 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and an average target price of $14.60.

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.