Park Hotels & Resorts Inc. (PK) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its holdings in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 181.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,607,804 shares of the financial services provider’s stock after purchasing an additional 1,035,870 shares during the quarter. Northern Trust Corp owned 0.75% of Park Hotels & Resorts worth $43,346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in shares of Park Hotels & Resorts during the second quarter worth about $1,690,000. Cascade Investment Advisors Inc. grew its holdings in shares of Park Hotels & Resorts by 24.8% during the second quarter. Cascade Investment Advisors Inc. now owns 28,358 shares of the financial services provider’s stock worth $765,000 after buying an additional 5,637 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Park Hotels & Resorts by 1,065.3% during the second quarter. Aperio Group LLC now owns 413,435 shares of the financial services provider’s stock worth $11,146,000 after buying an additional 377,955 shares in the last quarter. Forsta AP Fonden bought a new position in shares of Park Hotels & Resorts during the second quarter worth about $1,429,000. Finally, APG Asset Management US Inc. grew its holdings in shares of Park Hotels & Resorts by 66.3% during the second quarter. APG Asset Management US Inc. now owns 1,550,000 shares of the financial services provider’s stock worth $41,788,000 after buying an additional 618,229 shares in the last quarter. 97.19% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This article was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://ledgergazette.com/2017/10/11/park-hotels-resorts-inc-pk-shares-bought-by-northern-trust-corp.html.

A number of research analysts recently issued reports on the company. Boenning Scattergood set a $29.00 price objective on Park Hotels & Resorts and gave the stock a “buy” rating in a report on Friday, August 4th. Canaccord Genuity decreased their price objective on Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating for the company in a report on Friday, August 4th. Zacks Investment Research downgraded Park Hotels & Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. J P Morgan Chase & Co assumed coverage on Park Hotels & Resorts in a report on Thursday, June 15th. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Cowen and Company increased their price objective on Park Hotels & Resorts from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Tuesday, June 20th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $34.80.

Park Hotels & Resorts Inc. (NYSE:PK) opened at 28.00 on Wednesday. The firm has a 50-day moving average price of $27.44 and a 200-day moving average price of $27.44. The company has a market capitalization of $6.02 billion and a P/E ratio of 2.40. Park Hotels & Resorts Inc. has a 1-year low of $25.40 and a 1-year high of $30.74.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.77 by $0.04. The company had revenue of $733.00 million during the quarter, compared to analysts’ expectations of $716.51 million. Park Hotels & Resorts’s revenue was up 1.1% compared to the same quarter last year. On average, analysts forecast that Park Hotels & Resorts Inc. will post $12.02 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend is Thursday, September 28th.

In related news, Director Stephen I. Sadove acquired 9,600 shares of the stock in a transaction dated Friday, August 4th. The stock was purchased at an average cost of $25.97 per share, with a total value of $249,312.00. Following the completion of the purchase, the director now directly owns 20,151 shares in the company, valued at approximately $523,321.47. The purchase was disclosed in a filing with the SEC, which is available through ILLEGAL ACTIVITY WARNING: This article was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://ledgergazette.com/2017/10/11/park-hotels-resorts-inc-pk-shares-bought-by-northern-trust-corp.html.

A number of research analysts recently issued reports on the company. Boenning Scattergood set a $29.00 price objective on Park Hotels & Resorts and gave the stock a “buy” rating in a report on Friday, August 4th. Canaccord Genuity decreased their price objective on Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating for the company in a report on Friday, August 4th. Zacks Investment Research downgraded Park Hotels & Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. J P Morgan Chase & Co assumed coverage on Park Hotels & Resorts in a report on Thursday, June 15th. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Cowen and Company increased their price objective on Park Hotels & Resorts from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Tuesday, June 20th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $34.80.

Park Hotels & Resorts Inc. (NYSE:PK) opened at 28.00 on Wednesday. The firm has a 50-day moving average price of $27.44 and a 200-day moving average price of $27.44. The company has a market capitalization of $6.02 billion and a P/E ratio of 2.40. Park Hotels & Resorts Inc. has a 1-year low of $25.40 and a 1-year high of $30.74.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.77 by $0.04. The company had revenue of $733.00 million during the quarter, compared to analysts’ expectations of $716.51 million. Park Hotels & Resorts’s revenue was up 1.1% compared to the same quarter last year. On average, analysts forecast that Park Hotels & Resorts Inc. will post $12.02 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend is Thursday, September 28th.

In related news, Director Stephen I. Sadove acquired 9,600 shares of the stock in a transaction dated Friday, August 4th. The stock was purchased at an average cost of $25.97 per share, with a total value of $249,312.00. Following the completion of the purchase, the director now directly owns 20,151 shares in the company, valued at approximately $523,321.47. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

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.

Want to see what other hedge funds are holding PK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Park Hotels & Resorts Inc. (NYSE:PK).

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

Receive News & Ratings for Park Hotels & Resorts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply