Jacobs & Co. CA Acquires 56,653 Shares of Booking Holdings Inc. $BKNG

Key Points

• Jacobs & Co. CA dramatically increased its Booking Holdings stake, purchasing 56,653 additional shares in the second quarter to bring its holdings to 58,876 shares valued at approximately $10.5 million. Institutional investors collectively own 92.42% of BKNG.
• Booking exceeded quarterly expectations, reporting $2.54 in earnings per share and $7.35 billion in revenue, with revenue up 8.1% year over year. Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $234.69 price target.
• Booking declared a $0.42 quarterly dividend, equivalent to a 0.8% annualized yield, while directors disclosed stock sales under pre-arranged Rule 10b5-1 plans. The company’s shares were trading near $214.42, below the 52-week high of $231.80.

Jacobs & Co. CA lifted its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,548.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,876 shares of the business services provider's stock after purchasing an additional 56,653 shares during the quarter. Jacobs & Co. CA's holdings in Booking were worth $10,494,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BKNG. Legacy Bridge LLC bought a new stake in Booking during the fourth quarter valued at approximately $27,000. Camelot Portfolios LLC bought a new position in shares of Booking in the 4th quarter worth $27,000. Osbon Capital Management LLC bought a new position in shares of Booking in the 4th quarter worth $27,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Booking during the 4th quarter valued at $27,000. Finally, Strive Asset Management LLC purchased a new stake in shares of Booking during the 3rd quarter valued at $27,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Stock Performance

Shares of Booking stock opened at $214.42 on Friday. Booking Holdings Inc. has a 52-week low of $150.14 and a 52-week high of $231.80. The company has a fifty day moving average of $179.43 and a 200-day moving average of $176.56. The stock has a market capitalization of $161.11 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 1.31 and a beta of 1.07.

Booking (NASDAQ:BKNG - Get Free Report) last issued its earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping analysts' consensus estimates of $2.43 by $0.11. The company 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 was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $55.40 EPS. On average, equities research analysts forecast that Booking Holdings Inc. will post 10.43 earnings per share for the current fiscal year.

Booking Dividend Announcement

The business also recently disclosed 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 is Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. Booking's payout ratio is currently 18.58%.

Insider Transactions at Booking

In other news, Director Vanessa Ames Wittman sold 1,125 shares of the business's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total value of $216,000.00. Following the completion of the sale, the director owned 16,508 shares of the company's stock, valued at approximately $3,169,536. The trade was a 6.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total value of $1,000,000.00. Following the sale, the director owned 16,000 shares of the company's stock, valued at $3,200,000. This represents a 23.81% 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. Over the last quarter, insiders have sold 69,625 shares of company stock worth $11,652,075. Company insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

BKNG has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed an "outperform" rating and set a $250.00 price objective (up from $240.00) on shares of Booking in a report on Wednesday. Wells Fargo & Company set a $220.00 price target on Booking and gave the company an "equal weight" rating in a research report on Wednesday. Wedbush lifted their price target on Booking from $211.00 to $247.00 and gave the stock an "outperform" rating in a research note on Wednesday. Weiss Ratings upgraded Booking from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 29th. Finally, Argus set a $210.00 price objective on Booking and gave the company a "buy" rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.69.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

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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