Wedmont Private Capital Has $171,000 Holdings in Park Hotels & Resorts Inc. (NYSE:PK)

Wedmont Private Capital reduced its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 9.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,143 shares of the financial services provider’s stock after selling 1,265 shares during the quarter. Wedmont Private Capital’s holdings in Park Hotels & Resorts were worth $171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Epoch Investment Partners Inc. lifted its position in Park Hotels & Resorts by 135.7% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,391,881 shares of the financial services provider’s stock valued at $24,344,000 after purchasing an additional 801,372 shares during the period. Acadian Asset Management LLC boosted its stake in Park Hotels & Resorts by 492.7% in the first quarter. Acadian Asset Management LLC now owns 54,345 shares of the financial services provider’s stock valued at $950,000 after acquiring an additional 45,176 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Park Hotels & Resorts by 601.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock worth $36,921,000 after acquiring an additional 1,809,886 shares during the period. Diversified Trust Co acquired a new stake in Park Hotels & Resorts during the 2nd quarter worth $599,000. Finally, ClariVest Asset Management LLC bought a new position in shares of Park Hotels & Resorts in the 1st quarter worth $1,240,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 1.6 %

Shares of Park Hotels & Resorts stock opened at $14.52 on Monday. Park Hotels & Resorts Inc. has a 52-week low of $11.05 and a 52-week high of $18.05. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58. The business’s 50 day simple moving average is $14.43 and its 200 day simple moving average is $15.26. The firm has a market cap of $3.06 billion, a PE ratio of 33.00, a P/E/G ratio of 0.69 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.30). The business had revenue of $686.00 million during the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. On average, 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date is Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio is currently 227.27%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PK. Evercore ISI cut their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Truist Financial reduced their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. UBS Group decreased their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Finally, Wells Fargo & Company dropped their price objective on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.05.

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.