Booking Holdings Inc. $BKNG Stock Purchased by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Booking Holdings stake by 90.2% in the third quarter, adding 31,559 shares to own 66,561 shares worth approximately $10.84 million. Institutional investors and hedge funds collectively own 92.42% of the company.
• Booking reported quarterly earnings of $2.54 per share, beating estimates of $2.43, while revenue of $7.35 billion exceeded forecasts and rose 8.1% year over year.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $233.95, well above the reported market price of $163.45.

TD Waterhouse Canada Inc. increased its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 90.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,561 shares of the business services provider's stock after buying an additional 31,559 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Booking were worth $10,843,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Booking in the 2nd quarter worth $11,646,302,000. State Street Corp raised its holdings in shares of Booking by 2,674.6% during the 2nd quarter. State Street Corp now owns 39,420,711 shares of the business services provider's stock worth $7,026,348,000 after acquiring an additional 37,999,915 shares during the period. Bank of Nova Scotia boosted its position in shares of Booking by 1,497.3% during the 1st quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider's stock valued at $3,665,168,000 after acquiring an additional 816,022 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Booking during the 2nd quarter valued at about $1,691,186,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Booking during the 2nd quarter valued at about $1,370,455,000. Institutional investors and hedge funds own 92.42% of the company's stock.

Booking Price Performance

NASDAQ:BKNG opened at $163.45 on Monday. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $220.81. The company has a market capitalization of $122.81 billion, a P/E ratio of 18.09, a P/E/G ratio of 1.01 and a beta of 1.13. The stock's fifty day moving average is $182.08 and its two-hundred day moving average is $177.67.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating the consensus estimate of $2.43 by $0.11. The business 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 company's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $55.40 EPS. Sell-side analysts anticipate that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.

Booking Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, September 11th. Booking's payout ratio is 18.58%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BKNG. Wedbush upped their price objective on shares of Booking from $211.00 to $247.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Jefferies Financial Group lifted 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. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $188.00 target price on shares of Booking in a research note on Wednesday, August 26th. Evercore reiterated an "outperform" rating and issued a $270.00 target price on shares of Booking in a report on Monday, August 24th. Finally, Argus increased their price target on shares of Booking from $210.00 to $245.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $233.95.

Insider Buying and Selling

In other Booking news, Director Robert J. Mylod, Jr. sold 5,000 shares of Booking stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the director directly owned 16,000 shares in the company, valued at $3,200,000. This trade represents a 23.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of the business's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $203.48, for a total transaction of $610,440.00. Following the completion of the sale, the insider directly owned 73,400 shares in the company, valued at $14,935,432. This trade represents a 3.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 84,550 shares of company stock valued at $17,426,864 over the last three months. Company insiders own 0.17% of the company's stock.

About Booking

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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