Booking Holdings Inc. $BKNG Position Lowered by Nuveen LLC

Key Points

• Nuveen LLC cut its Booking Holdings stake by 6.7% in the fourth quarter, selling 23,236 shares and ending with about 321,749 shares valued at roughly $1.72 billion.
• Analyst sentiment remains mostly positive, with Booking carrying a consensus rating of “Moderate Buy” and a median price target of $227.14, even as some firms trimmed their targets or downgraded the stock.
• Booking posted solid quarterly results and a dividend, beating EPS estimates and growing revenue 16.2% year over year, while also announcing a quarterly dividend of $0.42 per share payable June 30.

Nuveen LLC decreased its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 321,749 shares of the business services provider's stock after selling 23,236 shares during the period. Booking comprises about 0.5% of Nuveen LLC's investment portfolio, making the stock its 28th biggest holding. Nuveen LLC owned about 1.00% of Booking worth $1,723,072,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Strive Asset Management LLC bought a new position in shares of Booking during the third quarter worth about $27,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Booking during the third quarter worth about $26,000. Daytona Street Capital LLC acquired a new stake in Booking during the fourth quarter worth about $27,000. Legacy Bridge LLC acquired a new stake in Booking during the fourth quarter worth about $27,000. Finally, Camelot Portfolios LLC acquired a new stake in Booking during the fourth quarter worth about $27,000. Institutional investors own 92.42% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on BKNG. UBS Group increased their price objective on shares of Booking from $259.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Jefferies Financial Group dropped their price objective on shares of Booking from $224.00 to $180.00 and set a "hold" rating on the stock in a research note on Monday, February 23rd. Oppenheimer reiterated an "outperform" rating and set a $215.00 price objective (down from $240.00) on shares of Booking in a research note on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price objective on shares of Booking from $224.00 to $208.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Booking from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $227.14.

Insider Buying and Selling

In other Booking news, VP Peter J. Millones sold 62,500 shares of Booking stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the completion of the sale, the vice president owned 425,075 shares of the company's stock, valued at $69,572,025.25. This trade represents a 12.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of Booking stock in a transaction on Friday, April 17th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the sale, the director directly owned 16,050 shares of the company's stock, valued at $3,081,600. This trade represents a 6.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 97,076 shares of company stock valued at $16,417,121. Company insiders own 0.16% of the company's stock.

Booking Price Performance

NASDAQ BKNG opened at $163.59 on Friday. Booking Holdings Inc. has a 12 month low of $150.14 and a 12 month high of $233.58. The firm has a market capitalization of $126.76 billion, a PE ratio of 21.52, a P/E/G ratio of 0.96 and a beta of 1.08. The company's 50 day simple moving average is $169.49 and its 200 day simple moving average is $184.26.

Booking (NASDAQ:BKNG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.06. The business had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.52 billion. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. The business's revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter last year, the business earned $0.99 earnings per share. Sell-side analysts anticipate that Booking Holdings Inc. will post 10.44 earnings per share for the current fiscal year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.68 dividend on an annualized basis and a yield of 1.0%. Booking's dividend payout ratio (DPR) is currently 22.11%.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Analyst coverage remains constructive, with Booking Holdings carrying a consensus recommendation of “Moderate Buy”, which may help support the stock. Booking Holdings Inc. NASDAQ: BKNG Given Consensus Recommendation of "Moderate Buy" by Analysts
• Positive Sentiment: Several brokerage-related articles reiterated that analysts still generally view BKNG favorably, suggesting Wall Street sees upside despite the pullback. Brokers Suggest Investing in Booking Holdings (BKNG): Read This Before Placing a Bet
• Positive Sentiment: Dodge & Cox reportedly initiated a position in Booking Holdings, a sign that some institutional investors see value in the stock after its decline. Dodge and Cox Fund Initiated Booking Holdings (BKNG) on Overlooked Advantage
• Neutral Sentiment: New commentary is questioning whether BKNG is now a bargain or a value trap after a roughly 25% share-price slide, which could keep traders cautious until fundamentals improve. Is It Time To Reassess Booking Holdings (BKNG) After A 25% Share Price Slide?
• Neutral Sentiment: Market recap pieces noted BKNG has been falling faster than the broader market, reinforcing the recent weakness but not pointing to a new fundamental catalyst. Booking Holdings (BKNG) Sees a More Significant Dip Than Broader Market: Some Facts to Know
• Negative Sentiment: The stock’s recent decline and weak year-to-date performance are weighing on sentiment, as investors appear to be reassessing growth expectations and valuation. Booking Holdings (BKNG) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Booking Company Profile

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company's businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.

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