Corebridge Financial Inc. Sells 500 Shares of Booking Holdings Inc. $BKNG

Key Points

• Corebridge Financial Inc. reduced its stake in Booking Holdings by 4.2%, selling 500 shares in the first quarter, resulting in a total of 11,296 shares valued at approximately $52 million.
• Several analysts have raised their price targets for Booking, with Evercore ISI and DA Davidson setting new targets at $6,250 and $6,500 respectively, indicating a strong optimistic outlook for the company's stock.
• Booking Holdings recently announced a quarterly dividend of $9.60 per share, which will be paid to stockholders of record on September 5th, representing a 0.7% dividend yield.

Corebridge Financial Inc. decreased its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,296 shares of the business services provider's stock after selling 500 shares during the quarter. Corebridge Financial Inc.'s holdings in Booking were worth $52,040,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Elequin Capital LP boosted its stake in Booking by 20.0% in the 4th quarter. Elequin Capital LP now owns 12 shares of the business services provider's stock valued at $60,000 after buying an additional 2 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in Booking by 1.2% in the 1st quarter. Fidelis Capital Partners LLC now owns 167 shares of the business services provider's stock valued at $809,000 after buying an additional 2 shares in the last quarter. WNY Asset Management LLC boosted its stake in Booking by 3.7% in the 1st quarter. WNY Asset Management LLC now owns 56 shares of the business services provider's stock valued at $258,000 after buying an additional 2 shares in the last quarter. Gries Financial LLC boosted its stake in Booking by 1.6% in the 1st quarter. Gries Financial LLC now owns 125 shares of the business services provider's stock valued at $576,000 after buying an additional 2 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its stake in Booking by 0.5% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 403 shares of the business services provider's stock valued at $1,854,000 after buying an additional 2 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Benchmark reaffirmed a "buy" rating and issued a $6,200.00 price target (up previously from $6,000.00) on shares of Booking in a research note on Wednesday, July 30th. Piper Sandler reiterated a "neutral" rating and issued a $5,750.00 price objective (up previously from $5,077.00) on shares of Booking in a research report on Wednesday, July 30th. Susquehanna lifted their price objective on Booking from $6,000.00 to $6,500.00 and gave the company a "positive" rating in a research report on Friday, August 1st. B. Riley reiterated a "buy" rating and issued a $6,700.00 price objective (up previously from $6,100.00) on shares of Booking in a research report on Wednesday, July 30th. Finally, Citigroup lifted their price objective on Booking from $5,560.00 to $6,500.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $5,781.04.

Booking Price Performance

Shares of BKNG stock traded down $52.94 on Friday, reaching $5,599.05. 138,771 shares of the stock were exchanged, compared to its average volume of 245,303. The stock has a market cap of $181.47 billion, a PE ratio of 38.94, a P/E/G ratio of 1.62 and a beta of 1.41. Booking Holdings Inc. has a one year low of $3,700.97 and a one year high of $5,839.41. The stock has a 50 day moving average price of $5,606.20 and a 200 day moving average price of $5,175.91.

Booking (NASDAQ:BKNG - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $55.40 earnings per share for the quarter, topping analysts' consensus estimates of $50.32 by $5.08. The company had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.54 billion. Booking had a negative return on equity of 134.19% and a net margin of 19.23%.The firm's quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $41.90 earnings per share. Booking has set its Q3 2025 guidance at EPS. On average, research analysts expect that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $9.60 dividend. This represents a $38.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, September 5th. Booking's dividend payout ratio is currently 26.71%.

Insider Buying and Selling

In related news, CEO Glenn D. Fogel sold 1,013 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $5,476.89, for a total value of $5,548,089.57. Following the completion of the sale, the chief executive officer owned 24,620 shares in the company, valued at approximately $134,841,031.80. This represents a 3.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 4,052 shares of company stock valued at $22,511,858 in the last ninety days. Corporate insiders own 0.16% of the company's stock.

Booking Profile

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.