Nomura Asset Management Co. Ltd. Purchases 18,200 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Nomura Asset Management Co. Ltd. boosted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 282,500 shares of the financial services provider’s stock after buying an additional 18,200 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.14% of Park Hotels & Resorts worth $3,975,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Allianz Asset Management GmbH boosted its stake in Park Hotels & Resorts by 3.6% in the fourth quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider’s stock valued at $50,426,000 after acquiring an additional 125,730 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Park Hotels & Resorts by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after purchasing an additional 540,920 shares during the last quarter. Norges Bank acquired a new stake in shares of Park Hotels & Resorts in the 4th quarter worth $41,087,000. Charles Schwab Investment Management Inc. grew its stake in Park Hotels & Resorts by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after buying an additional 66,093 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Park Hotels & Resorts by 26.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,443,752 shares of the financial services provider’s stock valued at $34,384,000 after buying an additional 518,727 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Up 0.7 %

Shares of PK opened at $10.76 on Wednesday. Park Hotels & Resorts Inc. has a 52 week low of $10.46 and a 52 week high of $17.87. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.51 and a beta of 2.02. The stock’s 50-day moving average price is $12.36 and its 200-day moving average price is $13.79. 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 (NYSE:PK) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The firm had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. On average, sell-side analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given 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 9.30%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 99.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PK. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Wells Fargo & Company cut 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 note on Tuesday, February 18th. Jefferies Financial Group decreased their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. UBS Group dropped 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 report on Monday, February 3rd. Finally, Truist Financial reduced their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.72.

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.