Pictet Asset Management Holding SA Has $941,000 Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Pictet Asset Management Holding SA lifted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,878 shares of the financial services provider’s stock after purchasing an additional 3,019 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Park Hotels & Resorts were worth $941,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of Park Hotels & Resorts by 6.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 282,500 shares of the financial services provider’s stock worth $3,975,000 after acquiring an additional 18,200 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Park Hotels & Resorts in the 4th quarter valued at about $1,650,000. Norges Bank bought a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at about $41,087,000. EntryPoint Capital LLC acquired a new position in shares of Park Hotels & Resorts during the fourth quarter worth about $261,000. Finally, LPL Financial LLC grew its holdings in shares of Park Hotels & Resorts by 898.1% during the fourth quarter. LPL Financial LLC now owns 377,605 shares of the financial services provider’s stock worth $5,313,000 after buying an additional 339,773 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group cut their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Truist Financial cut their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, Jefferies Financial Group reduced their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus target price of $17.72.

Park Hotels & Resorts Stock Down 3.3 %

Park Hotels & Resorts stock opened at $9.40 on Monday. 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 company’s 50-day moving average is $12.14 and its 200-day moving average is $13.70. The firm has a market capitalization of $1.90 billion, a PE ratio of 9.31, a P/E/G ratio of 1.51 and a beta of 1.73. Park Hotels & Resorts Inc. has a fifty-two week low of $8.73 and a fifty-two week high of $17.87.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Sell-side analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 10.64%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio is 99.01%.

Park Hotels & Resorts Company 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.