BNP PARIBAS ASSET MANAGEMENT Holding S.A. Grows Position in Park Hotels & Resorts Inc. (NYSE:PK) (2024)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) by 263.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,142 shares of the financial services provider's stock after acquiring an additional 54,473 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Park Hotels & Resorts were worth $1,126,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PK. Retirement Systems of Alabama lifted its holdings in shares of Park Hotels & Resorts by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 263,688 shares of the financial services provider's stock worth $4,612,000 after purchasing an additional 693 shares in the last quarter. Truist Financial Corp raised its stake in shares of Park Hotels & Resorts by 3.8% during the 4th quarter. Truist Financial Corp now owns 22,335 shares of the financial services provider's stock worth $342,000 after purchasing an additional 816 shares during the period. Blue Zone Wealth Advisors LLC boosted its stake in Park Hotels & Resorts by 0.4% in the second quarter. Blue Zone Wealth Advisors LLC now owns 252,737 shares of the financial services provider's stock valued at $3,786,000 after acquiring an additional 883 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Park Hotels & Resorts by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 94,701 shares of the financial services provider's stock valued at $1,449,000 after purchasing an additional 920 shares during the period. Finally, State of Michigan Retirement System grew its stake in shares of Park Hotels & Resorts by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 51,529 shares of the financial services provider's stock worth $901,000 after acquiring an additional 1,100 shares during the period. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $15.28 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market cap of $3.22 billion, a P/E ratio of 34.73, a P/E/G ratio of 0.74 and a beta of 2.03. The business's 50 day moving average price is $14.62 and its 200-day moving average price is $15.73. Park Hotels & Resorts Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $18.05.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.30). The company had revenue of $686.00 million during the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. On average, equities research analysts anticipate that Park Hotels & Resorts Inc. will post 2.1 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.54%. The ex-dividend date is Monday, September 30th. Park Hotels & Resorts's dividend payout ratio is currently 227.27%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wedbush reiterated a "neutral" rating and issued a $17.00 price objective on shares of Park Hotels & Resorts in a research note on Tuesday, May 28th. Evercore ISI reduced their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, August 13th. Barclays upped their target price on Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, May 24th. Truist Financial dropped their price objective on shares of Park Hotels & Resorts from $21.00 to $20.00 and set a "buy" rating for the company in a report on Thursday, May 30th. Finally, UBS Group reduced their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a "neutral" rating on the stock in a research report on Friday, August 16th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of "Hold" and an average target price of $17.42.

View Our Latest Analysis on PK

Park Hotels & Resorts Company Profile

(Free Report)

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.

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