Koss Olinger Consulting LLC Purchases New Position in Park Hotels & Resorts Inc. (NYSE:PK)

Koss Olinger Consulting LLC acquired a new stake in Park Hotels & Resorts Inc. (NYSE:PK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,881 shares of the financial services provider’s stock, valued at approximately $280,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its position in Park Hotels & Resorts by 3.6% in the 4th quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider’s stock valued at $50,426,000 after buying an additional 125,730 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Park Hotels & Resorts by 18.4% during the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock worth $49,182,000 after purchasing an additional 540,920 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Park Hotels & Resorts by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after purchasing an additional 66,093 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Park Hotels & Resorts by 26.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,443,752 shares of the financial services provider’s stock worth $34,384,000 after purchasing an additional 518,727 shares during the last quarter. Finally, Private Management Group Inc. lifted its position in shares of Park Hotels & Resorts by 2.0% during the fourth quarter. Private Management Group Inc. now owns 2,269,849 shares of the financial services provider’s stock worth $31,937,000 after purchasing an additional 44,606 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on PK shares. Jefferies Financial Group reduced their price target 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. Wells Fargo & Company reduced their price target 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. UBS Group reduced their price target 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, February 3rd. Finally, StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and an average target price of $18.15.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $11.71 on Thursday. The business has a 50 day moving average of $12.82 and a two-hundred day moving average of $13.98. The company has a market cap of $2.36 billion, a P/E ratio of 11.59, a PEG ratio of 1.51 and a beta of 2.02. 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 52 week low of $10.87 and a 52 week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released 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). The business had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. As a group, analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS 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. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.54%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 99.01%.

Park Hotels & Resorts 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.