Park Hotels & Resorts Inc. (PK) Holdings Raised by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. raised its position in Park Hotels & Resorts Inc. (NYSE:PK) by 278.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,219,821 shares of the financial services provider’s stock after acquiring an additional 897,527 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.57% of Park Hotels & Resorts worth $32,887,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. HGI Capital Management LLC raised its holdings in shares of Park Hotels & Resorts by 15.3% in the second quarter. HGI Capital Management LLC now owns 95,137 shares of the financial services provider’s stock worth $2,565,000 after buying an additional 12,626 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Park Hotels & Resorts by 72.9% in the second quarter. Sei Investments Co. now owns 147,504 shares of the financial services provider’s stock worth $3,976,000 after buying an additional 62,168 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Park Hotels & Resorts by 41.8% in the second quarter. Daiwa Securities Group Inc. now owns 12,900 shares of the financial services provider’s stock worth $348,000 after buying an additional 3,800 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Park Hotels & Resorts by 4.2% in the second quarter. State of New Jersey Common Pension Fund D now owns 221,963 shares of the financial services provider’s stock worth $5,984,000 after buying an additional 9,000 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Park Hotels & Resorts by 7.1% in the second quarter. CIBC Asset Management Inc now owns 9,416 shares of the financial services provider’s stock worth $254,000 after buying an additional 624 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

Park Hotels & Resorts Inc. (NYSE:PK) opened at 27.21 on Wednesday. Park Hotels & Resorts Inc. has a one year low of $25.40 and a one year high of $30.74. The company’s 50 day moving average is $27.11 and its 200 day moving average is $26.34. The stock has a market cap of $5.85 billion and a PE ratio of 2.33.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.04. The company had revenue of $733.00 million during the quarter, compared to analyst estimates of $716.51 million. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts expect that Park Hotels & Resorts Inc. will post $12.02 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $0.43 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.72 annualized dividend and a yield of 6.32%.

A number of research analysts have issued reports on PK shares. Zacks Investment Research raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Thursday, May 18th. Boenning Scattergood set a $29.00 price target on shares of Park Hotels & Resorts and gave the stock a “buy” rating in a report on Friday, August 4th. Jefferies Group LLC raised their price target on shares of Park Hotels & Resorts from $58.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday, June 20th. Cowen and Company raised their price target on shares of Park Hotels & Resorts from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Tuesday, June 20th. Finally, Evercore ISI started coverage on shares of Park Hotels & Resorts in a report on Wednesday, May 31st. They issued an “outperform” rating and a $28.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Park Hotels & Resorts has a consensus rating of “Hold” and a consensus target price of $34.80.

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In other Park Hotels & Resorts news, Director Stephen I. Sadove purchased 9,600 shares of Park Hotels & Resorts stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average price of $25.97 per share, for a total transaction of $249,312.00. Following the transaction, the director now directly owns 20,151 shares in the company, valued at $523,321.47. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

Park Hotels & Resorts Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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