Peak Asset Management LLC purchased a new position in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 82,367 shares of the business services provider's stock, valued at approximately $14,681,000. Booking accounts for about 2.2% of Peak Asset Management LLC's portfolio, making the stock its 18th largest holding.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Booking during the second quarter worth about $11,646,302,000. Deutsche Bank AG acquired a new stake in shares of Booking during the 2nd quarter worth approximately $1,691,186,000. Bank of New York Mellon Corp purchased a new stake in shares of Booking during the 2nd quarter valued at approximately $1,370,455,000. J. Stern & Co. LLP raised its position in shares of Booking by 191,965.8% during the 4th quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider's stock valued at $15,171,489,000 after buying an additional 2,831,495 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Booking in the second quarter valued at approximately $472,723,000. Institutional investors and hedge funds own 92.42% of the company's stock.
Booking Stock Up 1.8%
Shares of BKNG opened at $213.36 on Tuesday. The company has a market cap of $160.31 billion, a P/E ratio of 23.61, a PEG ratio of 1.27 and a beta of 1.07. Booking Holdings Inc. has a fifty-two week low of $150.14 and a fifty-two week high of $230.98. The firm's 50 day moving average price is $189.38 and its 200 day moving average price is $177.09.
Booking (NASDAQ:BKNG - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping the consensus estimate of $2.43 by $0.11. The business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $55.40 earnings per share. Research analysts forecast that Booking Holdings Inc. will post 10.47 earnings per share for the current year.
Booking Dividend Announcement
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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking's dividend payout ratio is presently 18.58%.
Insider Buying and Selling
In other news, VP Peter J. Millones sold 50,050 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the vice president owned 375,025 shares in the company, valued at $77,851,439.75. This represents a 11.77% decrease in their ownership of the stock. The transaction 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, Director Vanessa Ames Wittman sold 1,125 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total value of $216,000.00. Following the completion of the sale, the director directly owned 16,508 shares of the company's stock, valued at $3,169,536. This represents a 6.38% 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 90 days, insiders have sold 77,550 shares of company stock worth $16,112,304. Insiders own 0.17% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on BKNG shares. B. Riley Financial reissued a "buy" rating and set a $274.00 target price (up from $264.00) on shares of Booking in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $230.00 price target on shares of Booking in a report on Wednesday, August 5th. The Goldman Sachs Group set a $215.00 price objective on Booking and gave the stock a "neutral" rating in a research report on Monday, July 20th. Citigroup reaffirmed a "buy" rating and issued a $236.00 target price (up from $225.00) on shares of Booking in a research report on Wednesday, August 5th. Finally, UBS Group boosted their price target on shares of Booking from $266.00 to $274.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $236.45.
View Our Latest Analysis on Booking
Booking Profile
(
Free Report)
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.
See Also
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