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Scotia Capital Inc. Raises Stock Position in Booking Holdings Inc. (NASDAQ:BKNG)

Booking logo with Retail/Wholesale background

Key Points

  • Scotia Capital Inc. increased its stake in Booking Holdings Inc. by 1.7% in Q1, now owning 7,990 shares valued at approximately $36.81 million.
  • Booking reported Q2 earnings of $55.40 per share, exceeding estimates by $5.08, and revenue of $6.80 billion, up 16% from the previous year.
  • The company announced a quarterly dividend of $9.60 per share, with a payout ratio of 26.71%, effective September 30th for shareholders on record by September 5th.
  • Five stocks we like better than Booking.

Scotia Capital Inc. grew its holdings in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 1.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,990 shares of the business services provider's stock after buying an additional 137 shares during the period. Scotia Capital Inc.'s holdings in Booking were worth $36,810,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BKNG. Covestor Ltd grew its position in shares of Booking by 6.9% in the 4th quarter. Covestor Ltd now owns 31 shares of the business services provider's stock worth $158,000 after buying an additional 2 shares during the last quarter. SageView Advisory Group LLC grew its position in shares of Booking by 1.6% in the 4th quarter. SageView Advisory Group LLC now owns 124 shares of the business services provider's stock worth $616,000 after buying an additional 2 shares during the last quarter. Belpointe Asset Management LLC grew its position in shares of Booking by 2.2% in the 4th quarter. Belpointe Asset Management LLC now owns 95 shares of the business services provider's stock worth $472,000 after buying an additional 2 shares during the last quarter. Elequin Capital LP grew its position in shares of Booking by 20.0% in the 4th quarter. Elequin Capital LP now owns 12 shares of the business services provider's stock worth $60,000 after buying an additional 2 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its position in shares of Booking by 1.2% in the 1st quarter. Fidelis Capital Partners LLC now owns 167 shares of the business services provider's stock worth $809,000 after buying an additional 2 shares during the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Price Performance

BKNG stock opened at $5,386.29 on Friday. The firm's fifty day simple moving average is $5,568.80 and its 200-day simple moving average is $5,076.22. The company has a market capitalization of $174.57 billion, a P/E ratio of 37.46, a price-to-earnings-growth ratio of 1.56 and a beta of 1.41. Booking Holdings Inc. has a 12 month low of $3,180.00 and a 12 month high of $5,839.41.

Booking (NASDAQ:BKNG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The business services provider reported $55.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $50.32 by $5.08. Booking had a net margin of 19.23% and a negative return on equity of 134.19%. The firm had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.54 billion. During the same period in the previous year, the business posted $41.90 EPS. The business's revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Booking Holdings Inc. will post 209.92 earnings per share for the current year.

Booking Announces Dividend

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

Insider Activity

In related news, CEO Glenn D. Fogel sold 1,013 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $5,695.00, for a total value of $5,769,035.00. Following the completion of the transaction, the chief executive officer directly owned 26,633 shares in the company, valued at $151,674,935. The trade was a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 3,039 shares of company stock valued at $16,963,769. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

BKNG has been the topic of a number of analyst reports. Susquehanna lifted their price objective on shares of Booking from $6,000.00 to $6,500.00 and gave the stock a "positive" rating in a research report on Friday. Truist Financial boosted their target price on shares of Booking from $4,720.00 to $5,630.00 and gave the stock a "hold" rating in a research report on Monday, July 14th. Barclays boosted their target price on shares of Booking from $5,700.00 to $6,000.00 and gave the stock an "overweight" rating in a research report on Wednesday. Robert W. Baird boosted their target price on shares of Booking from $5,550.00 to $5,700.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, Hsbc Global Res raised shares of Booking to a "strong-buy" rating in a research report on Thursday, July 17th. Eleven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $5,781.04.

Read Our Latest Analysis on BKNG

Booking Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding BKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Booking Holdings Inc. (NASDAQ:BKNG - Free Report).

Institutional Ownership by Quarter for Booking (NASDAQ:BKNG)

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