Shellback Capital LP Acquires New Position in Booking Holdings Inc. $BKNG

Key Points

• Shellback Capital LP has acquired a new stake in Booking Holdings Inc. worth approximately $18.4 million, which represents 1.8% of its total holdings.
• Booking reported earnings of $55.40 per share for the last quarter, surpassing expectations, with a revenue of $6.80 billion.
• A quarterly dividend of $9.60 per share will be distributed on September 30th, reflecting a 0.7% dividend yield.

Shellback Capital LP acquired a new stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,000 shares of the business services provider's stock, valued at approximately $18,428,000. Booking accounts for approximately 1.8% of Shellback Capital LP's holdings, making the stock its 24th largest position.

A number of other institutional investors have also modified their holdings of BKNG. Vanguard Group Inc. grew its stake in Booking by 1.0% in the first quarter. Vanguard Group Inc. now owns 2,956,462 shares of the business services provider's stock worth $13,620,154,000 after purchasing an additional 30,054 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Booking by 521,609.7% in the 1st quarter. GAMMA Investing LLC now owns 2,363,345 shares of the business services provider's stock worth $10,887,718,000 after buying an additional 2,362,892 shares during the period. Northern Trust Corp lifted its holdings in shares of Booking by 0.5% in the 1st quarter. Northern Trust Corp now owns 370,327 shares of the business services provider's stock worth $1,706,063,000 after buying an additional 1,699 shares during the period. Deutsche Bank AG grew its position in shares of Booking by 6.6% during the 1st quarter. Deutsche Bank AG now owns 296,331 shares of the business services provider's stock worth $1,365,170,000 after buying an additional 18,268 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Booking by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 222,200 shares of the business services provider's stock valued at $1,023,655,000 after acquiring an additional 8,015 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Trading Down 1.4%

Shares of BKNG stock opened at $5,505.80 on Friday. Booking Holdings Inc. has a 12-month low of $3,700.97 and a 12-month high of $5,839.41. The business's fifty day simple moving average is $5,615.88 and its 200-day simple moving average is $5,198.75. The company has a market cap of $178.44 billion, a PE ratio of 38.29, a PEG ratio of 1.59 and a beta of 1.39.

Booking (NASDAQ:BKNG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $55.40 earnings per share for the quarter, topping the consensus estimate of $50.32 by $5.08. Booking had a negative return on equity of 134.19% and a net margin of 19.23%.The firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.54 billion. During the same period in the previous year, the business earned $41.90 EPS. The firm's revenue for the quarter was up 16.0% on a year-over-year basis. Booking has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that Booking Holdings Inc. will post 209.92 earnings per share for the current year.

Booking Dividend Announcement

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

Insider Activity at Booking

In related news, CEO Glenn D. Fogel sold 1,013 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $5,476.89, for a total value of $5,548,089.57. Following the completion of the transaction, the chief executive officer directly owned 24,620 shares of the company's stock, valued at $134,841,031.80. This trade represents a 3.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 4,052 shares of company stock valued at $22,511,858. Company insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. BMO Capital Markets reiterated an "outperform" rating and set a $6,000.00 target price (up from $5,700.00) on shares of Booking in a report on Wednesday, July 30th. Susquehanna increased their price objective on shares of Booking from $6,000.00 to $6,500.00 and gave the company a "positive" rating in a research note on Friday, August 1st. Barclays lifted their price objective on shares of Booking from $5,700.00 to $6,000.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Piper Sandler restated a "neutral" rating and set a $5,750.00 target price (up previously from $5,077.00) on shares of Booking in a report on Wednesday, July 30th. Finally, DA Davidson increased their target price on Booking from $5,750.00 to $6,500.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $5,808.81.

Booking Profile

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.

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