Park Hotels & Resorts Inc. (NYSE:PK) Shares Bought by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. increased its stake in Park Hotels & Resorts Inc. (NYSE:PK) by 13.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,200,125 shares of the financial services provider’s stock after acquiring an additional 1,122,839 shares during the period. Park Hotels & Resorts makes up approximately 3.1% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 11th biggest position. Donald Smith & CO. Inc.’s holdings in Park Hotels & Resorts were worth $129,446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PK. Jones Financial Companies Lllp grew its stake in shares of Park Hotels & Resorts by 42.2% in the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 2,373 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Park Hotels & Resorts in the third quarter worth approximately $116,000. CIBC Private Wealth Group LLC bought a new position in shares of Park Hotels & Resorts in the fourth quarter valued at $112,000. Plato Investment Management Ltd acquired a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at $141,000. Finally, KBC Group NV boosted its stake in shares of Park Hotels & Resorts by 36.2% during the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 2,663 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PK shares. Jefferies Financial Group cut their target price on 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. UBS Group cut their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. 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 report on Friday, March 21st. Wells Fargo & Company dropped their target price 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. Finally, StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.72.

Park Hotels & Resorts Trading Up 1.3 %

Park Hotels & Resorts stock opened at $10.89 on Thursday. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts Inc. has a 12 month low of $10.37 and a 12 month high of $17.87. The company’s fifty day simple moving average is $12.31 and its 200-day simple moving average is $13.77. The stock has a market cap of $2.20 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.51 and a beta of 1.73.

Park Hotels & Resorts (NYSE:PK) last posted 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 firm had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. As a group, sell-side analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.18%. 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.