Greenleaf Trust Has $12.62 Million Stock Holdings in Booking Holdings Inc. $BKNG

Key Points

• Greenleaf Trust increased its Booking Holdings stake by 2,334.5% in the second quarter, adding 67,911 shares to reach 70,820 shares valued at $12.62 million. Institutional investors and hedge funds collectively own 92.42% of BKNG.
• Booking reported quarterly earnings of $2.54 per share and revenue of $7.35 billion, exceeding analyst expectations; revenue rose 8.1% year over year.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $235.72. Booking also declared a quarterly dividend of $0.42 per share, while insiders sold $15.87 million of stock over the past three months.

Greenleaf Trust boosted its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,334.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,820 shares of the business services provider's stock after acquiring an additional 67,911 shares during the quarter. Greenleaf Trust's holdings in Booking were worth $12,623,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BKNG. Life Cycle Investment Partners Ltd bought a new position in Booking during the fourth quarter worth $361,463,000. Rit Capital Partners PLC bought a new stake in Booking in the fourth quarter valued at $51,396,000. Merit Financial Group LLC raised its holdings in shares of Booking by 1,663.9% during the second quarter. Merit Financial Group LLC now owns 28,698 shares of the business services provider's stock valued at $5,115,000 after purchasing an additional 27,071 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of Booking during the fourth quarter valued at about $210,352,000. Finally, Cardano Risk Management B.V. boosted its position in shares of Booking by 862.0% during the 4th quarter. Cardano Risk Management B.V. now owns 218,080 shares of the business services provider's stock worth $1,167,890,000 after purchasing an additional 195,411 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Booking Trading Up 0.5%

Shares of NASDAQ:BKNG opened at $213.34 on Friday. The stock has a market cap of $160.30 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07. The stock's fifty day simple moving average is $183.08 and its two-hundred day simple moving average is $177.00. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $231.80.

Booking (NASDAQ:BKNG - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.11. The business had revenue of $7.35 billion for the quarter, compared to analysts' expectations of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $55.40 earnings per share. On average, sell-side analysts forecast that Booking Holdings Inc. will post 10.47 earnings per share for the current fiscal year.

Booking Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. Booking's dividend payout ratio is currently 18.58%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. TD Cowen reiterated a "buy" rating and issued a $230.00 price target (down from $240.00) on shares of Booking in a report on Wednesday, April 29th. Royal Bank Of Canada lowered their target price on Booking from $244.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 29th. Gordon Haskett increased their target price on Booking from $217.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Wedbush lifted their price target on shares of Booking from $211.00 to $247.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Finally, Cantor Fitzgerald boosted their price target on shares of Booking from $175.00 to $220.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $235.72.

Insiders Place Their Bets

In related news, Director Robert J. Mylod, Jr. sold 5,000 shares of the firm's 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 owned 16,000 shares in the company, valued at approximately $3,200,000. This trade represents a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of Booking stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the completion of the sale, the chief financial officer directly owned 59,794 shares in the company, valued at approximately $12,618,327.82. This represents a 25.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 89,625 shares of company stock valued at $15,872,675. Insiders own 0.17% of the company's stock.

About Booking

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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