KBC Group NV Buys 2,663 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

KBC Group NV grew its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 36.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,023 shares of the financial services provider’s stock after buying an additional 2,663 shares during the period. KBC Group NV’s holdings in Park Hotels & Resorts were worth $141,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in Park Hotels & Resorts during the third quarter valued at approximately $33,000. Venturi Wealth Management LLC boosted its holdings in Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,841 shares during the period. Claro Advisors LLC purchased a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at $69,000. Covestor Ltd increased its holdings in shares of Park Hotels & Resorts by 64.8% in the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 2,711 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Park Hotels & Resorts in the third quarter worth $116,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

PK stock opened at $13.19 on Friday. The firm has a market cap of $2.72 billion, a P/E ratio of 8.40 and a beta of 2.00. The firm’s fifty day moving average is $14.40 and its 200 day moving average is $14.45. Park Hotels & Resorts Inc. has a 52 week low of $12.80 and a 52 week high of $18.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51.

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.65 per share. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a dividend yield of 19.72%. The ex-dividend date of this dividend was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is 63.69%.

Analyst Ratings Changes

PK has been the subject of several recent analyst reports. Compass Point reduced their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. UBS Group decreased their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday. Bank of America lowered their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Jefferies Financial Group lowered their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and an average target price of $18.45.

Park Hotels & Resorts Profile

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.