Fox Run Management L.L.C. Trims Stock Position in Park Hotels & Resorts Inc. (NYSE:PK)

Fox Run Management L.L.C. trimmed its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 56.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,327 shares of the financial services provider’s stock after selling 25,336 shares during the period. Fox Run Management L.L.C.’s holdings in Park Hotels & Resorts were worth $272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PK. Allianz Asset Management GmbH grew its holdings in shares of Park Hotels & Resorts by 3.6% during the fourth quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider’s stock worth $50,426,000 after purchasing an additional 125,730 shares during the last quarter. JPMorgan Chase & Co. increased its position in Park Hotels & Resorts by 18.4% during the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after buying an additional 540,920 shares during the period. Charles Schwab Investment Management Inc. increased its position in Park Hotels & Resorts by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after buying an additional 66,093 shares during the period. Bank of New York Mellon Corp lifted its stake in Park Hotels & Resorts by 26.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,443,752 shares of the financial services provider’s stock valued at $34,384,000 after buying an additional 518,727 shares during the last quarter. Finally, Private Management Group Inc. boosted its holdings in shares of Park Hotels & Resorts by 2.0% in the fourth quarter. Private Management Group Inc. now owns 2,269,849 shares of the financial services provider’s stock valued at $31,937,000 after acquiring an additional 44,606 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $11.17 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. Park Hotels & Resorts Inc. has a one year low of $10.87 and a one year high of $17.87. The company has a market cap of $2.25 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02. The business has a fifty day moving average of $12.54 and a two-hundred day moving average of $13.85.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate 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 company had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. As a group, analysts predict 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio is currently 99.01%.

About Park Hotels & Resorts

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.