Booking Holdings Inc. $BKNG Stake Trimmed by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its Booking Holdings stake by 2.9%, selling 53,357 shares and retaining 1.78 million shares valued at approximately $290 million. Institutional investors and hedge funds collectively own 92.42% of the company.
• Booking reported quarterly EPS of $2.54, beating estimates by $0.11, while revenue reached $7.35 billion, up 8.1% year over year and ahead of forecasts.
• Despite the stock trading near its 12-month low at $148.13, analysts maintain a “Moderate Buy” consensus with an average price target of $233.07; potential risks include currency headwinds, higher marketing costs and travel disruptions.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,780,308 shares of the business services provider's stock after selling 53,357 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Booking worth $290,030,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Kapitalo Investimentos Ltda purchased a new position in shares of Booking during the 1st quarter valued at approximately $345,000. Alesco Advisors LLC An ESL Co acquired a new position in shares of Booking in the 1st quarter valued at $400,000. Ascentis Independent Advisors boosted its holdings in Booking by 163.6% during the first quarter. Ascentis Independent Advisors now owns 116 shares of the business services provider's stock worth $488,000 after buying an additional 72 shares in the last quarter. Inceptionr LLC purchased a new stake in Booking during the first quarter worth $505,000. Finally, Oslo Pensjonsforsikring AS purchased a new stake in Booking during the first quarter worth $509,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Booking Price Performance

Shares of BKNG stock opened at $148.13 on Friday. The company has a market cap of $111.30 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 0.93 and a beta of 1.13. The stock has a 50 day simple moving average of $171.26 and a 200-day simple moving average of $177.25. Booking Holdings Inc. has a 1-year low of $146.28 and a 1-year high of $220.81.

Booking (NASDAQ:BKNG - Get Free Report) last announced its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.43 by $0.11. The firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The business's revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $55.40 EPS. Analysts anticipate that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.

Booking Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Booking's dividend payout ratio (DPR) is presently 18.58%.

Insider Buying and Selling at Booking

In other news, CFO Ewout L. Steenbergen sold 20,000 shares of Booking stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total value of $4,220,600.00. Following the sale, the chief financial officer owned 59,794 shares in the company, valued at $12,618,327.82. This trade represents a 25.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter Millones, Jr. sold 50,050 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the sale, the vice president directly owned 375,025 shares of the company's stock, valued at $77,851,439.75. This represents a 11.77% 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. Over the last quarter, insiders sold 78,425 shares of company stock valued at $16,210,864. Insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Melius Research set a $225.00 price target on shares of Booking in a research report on Tuesday, October 20th. BMO Capital Markets reiterated an "outperform" rating and issued a $250.00 price objective (up from $240.00) on shares of Booking in a research report on Wednesday, August 5th. Mizuho set a $240.00 target price on shares of Booking in a research note on Wednesday, August 5th. Jefferies Financial Group increased their target price on shares of Booking from $180.00 to $190.00 and gave the stock a "hold" rating in a research note on Tuesday, July 14th. Finally, Piper Sandler restated a "neutral" rating and set a $215.00 target price (up from $195.00) on shares of Booking in a research report on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $233.07.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s global travel leadership, high margins and strong cash-flow generation remain important supports for the investment case. Its cash position could provide flexibility for share repurchases, investment and other shareholder returns. Booking vs. Coupang: Which Stock Is the Better Buy in November?
• Positive Sentiment: Investors will be watching for continued progress in loyalty adoption and the Connected Trip initiative, which aims to increase customer engagement and cross-selling across accommodations, flights, rental cars and other travel services. Strong execution could improve longer-term growth expectations. The Connected Trip Gamble
• Neutral Sentiment: BKNG has attracted unusually high investor attention and options activity ahead of earnings. This may increase short-term volatility, but the available reports do not indicate whether traders are positioning for a rise or decline. Booking Sees Unusually Large Options Volume
• Neutral Sentiment: Analysts are focused not only on revenue and earnings per share but also on operating metrics and other key indicators for the September quarter. These estimates could set the bar for the earnings reaction. Exploring Analyst Estimates for Booking Holdings Q3 Earnings
• Negative Sentiment: Currency headwinds could reduce the reported value of international bookings and earnings, while travel disruptions may weigh on demand or create additional costs. Booking Holdings Q3 Earnings Ahead
• Negative Sentiment: Higher marketing spending may pressure profitability even if bookings and revenue continue to grow. Investors are therefore likely to scrutinize margins, guidance and management’s outlook. Booking Holdings Q3 Earnings Ahead: What's in Store for the Stock?
• Negative Sentiment: The shares have declined substantially and are trading near their 12-month low, reflecting elevated expectations risk ahead of the report. Any weak guidance or disappointment in Connected Trip adoption could add further pressure.

Booking Company Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.

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