Thrivent Financial for Lutherans Sells 8,420 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Thrivent Financial for Lutherans reduced its holdings in Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,036 shares of the financial services provider’s stock after selling 8,420 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Park Hotels & Resorts were worth $1,344,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PK. MetLife Investment Management LLC increased its holdings in shares of Park Hotels & Resorts by 33.4% in the first quarter. MetLife Investment Management LLC now owns 152,902 shares of the financial services provider’s stock worth $2,986,000 after acquiring an additional 38,302 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Park Hotels & Resorts by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 86,667 shares of the financial services provider’s stock worth $1,693,000 after buying an additional 8,263 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Park Hotels & Resorts by 0.6% during the first quarter. BlackRock Inc. now owns 29,740,571 shares of the financial services provider’s stock worth $580,834,000 after buying an additional 182,269 shares in the last quarter. APG Asset Management N.V. bought a new position in shares of Park Hotels & Resorts during the first quarter worth about $857,000. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Park Hotels & Resorts by 5.2% during the first quarter. Great West Life Assurance Co. Can now owns 328,319 shares of the financial services provider’s stock worth $6,628,000 after buying an additional 16,107 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PK shares. TheStreet upgraded Park Hotels & Resorts from a “d+” rating to a “c” rating in a report on Wednesday, February 22nd. Morgan Stanley decreased their price objective on Park Hotels & Resorts from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Monday, April 17th. Citigroup increased their price objective on Park Hotels & Resorts from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft raised their price target on Park Hotels & Resorts from $20.00 to $21.00 in a research note on Tuesday, May 2nd. Finally, StockNews.com initiated coverage on Park Hotels & Resorts in a research note on Thursday. They issued a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.55.

Park Hotels & Resorts Stock Performance

PK opened at $13.55 on Monday. Park Hotels & Resorts Inc. has a 12-month low of $10.70 and a 12-month high of $19.47. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.73 and a beta of 1.96. The business has a 50 day moving average of $12.25 and a 200-day moving average of $12.65. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 1.09.

Park Hotels & Resorts (NYSE:PK – Get Rating) last released its quarterly earnings data on Monday, May 1st. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.17). Park Hotels & Resorts had a net margin of 9.44% and a return on equity of 5.90%. The business had revenue of $648.00 million during the quarter, compared to analyst estimates of $617.04 million. During the same period in the previous year, the business earned $0.08 earnings per share. The business’s quarterly revenue was up 35.3% on a year-over-year basis. On average, equities research analysts expect that Park Hotels & Resorts Inc. will post 1.93 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Friday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, March 30th. This represents a $0.60 annualized dividend and a yield of 4.43%. Park Hotels & Resorts’s payout ratio is currently 54.05%.

Park Hotels & Resorts Profile

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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.