Reynders McVeigh Capital Management LLC Has $1.17 Million Holdings in Booking Holdings Inc. $BKNG

Key Points

• Reynders McVeigh Capital Management increased its Booking Holdings stake by 2,935.6% in the second quarter, ending with 6,557 shares worth approximately $1.17 million. Institutional investors collectively own 92.42% of Booking’s stock.
• Booking insiders sold 81,550 shares worth about $16.9 million over the past three months, including sales by the vice president and CFO under pre-arranged Rule 10b5-1 plans.
• Booking’s latest quarterly results exceeded expectations, with $2.54 in EPS and $7.35 billion in revenue, up 8.1% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $236.70, compared with a recent share price of $171.32.

Reynders McVeigh Capital Management LLC increased its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,935.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,557 shares of the business services provider's stock after buying an additional 6,341 shares during the quarter. Reynders McVeigh Capital Management LLC's holdings in Booking were worth $1,169,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BKNG. Osbon Capital Management LLC acquired a new stake in shares of Booking during the 4th quarter worth about $27,000. Godfrey Financial Associates Inc. bought a new stake in Booking during the fourth quarter worth about $32,000. Bard Associates Inc. bought a new stake in Booking during the fourth quarter worth about $32,000. Basepoint Wealth LLC acquired a new stake in shares of Booking during the fourth quarter worth approximately $62,000. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Booking during the fourth quarter worth approximately $65,000. Institutional investors and hedge funds own 92.42% of the company's stock.

Insider Transactions at Booking

In other Booking news, VP Peter Millones, Jr. 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 transaction, the vice president owned 375,025 shares of the company's stock, valued at $77,851,439.75. This represents a 11.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 that occurred on Wednesday, August 12th. The shares were 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 owned 59,794 shares in the company, valued at $12,618,327.82. This trade represents a 25.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 81,550 shares of company stock worth $16,922,744. Corporate insiders own 0.17% of the company's stock.

Booking Stock Performance

BKNG traded down $4.03 during mid-day trading on Tuesday, reaching $171.32. The stock had a trading volume of 8,985,814 shares, compared to its average volume of 8,163,646. The firm's fifty day simple moving average is $193.85 and its two-hundred day simple moving average is $179.07. The stock has a market capitalization of $128.73 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.08 and a beta of 1.07. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $225.00.

Booking (NASDAQ:BKNG - Get Free Report) last issued its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same quarter last year, the firm earned $55.40 EPS. The company's revenue for the quarter was up 8.1% on a year-over-year basis. As a group, analysts expect that Booking Holdings Inc. will post 10.48 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be paid a $0.42 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.68 annualized dividend and a yield of 1.0%. Booking's payout ratio is presently 18.58%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BKNG. Benchmark boosted their target price on Booking from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Argus lifted their price objective on Booking from $210.00 to $245.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Wells Fargo & Company set a $220.00 price objective on Booking and gave the stock an "equal weight" rating in a research note on Wednesday, August 5th. Oppenheimer restated an "outperform" rating and set a $240.00 target price (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. Finally, Truist Financial set a $242.00 target price on Booking in a research note on Wednesday, August 5th. Two analysts have 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. Based on data from MarketBeat, Booking presently has a consensus rating of "Moderate Buy" and an average target price of $236.70.

Booking Profile

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.

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