Shelter Mutual Insurance Co Invests $4.90 Million in Booking Holdings Inc. $BKNG

Key Points

• Shelter Mutual Insurance Co. acquired 27,500 Booking Holdings shares worth approximately $4.9 million in the second quarter. Institutional investors collectively own 92.42% of BKNG.
• Analysts maintain a generally bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $235.72, above the reported share price of $209.62.
• Booking exceeded quarterly expectations, reporting $2.54 in adjusted earnings per share and $7.35 billion in revenue, up 8.1% year over year. The company also declared a quarterly dividend of $0.42 per share.

Shelter Mutual Insurance Co acquired a new position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,500 shares of the business services provider's stock, valued at approximately $4,902,000.

Other large investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. increased its stake in Booking by 1.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 121 shares of the business services provider's stock valued at $700,000 after buying an additional 2 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Booking by 30.0% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 13 shares of the business services provider's stock worth $70,000 after buying an additional 3 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of Booking by 0.8% during the 4th quarter. OLD National Bancorp IN now owns 377 shares of the business services provider's stock worth $2,019,000 after buying an additional 3 shares during the last quarter. LFA Lugano Financial Advisors SA grew its holdings in shares of Booking by 6.0% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 53 shares of the business services provider's stock valued at $284,000 after acquiring an additional 3 shares in the last quarter. Finally, Simon Quick Advisors LLC grew its holdings in shares of Booking by 1.0% in the 4th quarter. Simon Quick Advisors LLC now owns 289 shares of the business services provider's stock valued at $1,548,000 after acquiring an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Wall Street Analyst Weigh In

BKNG has been the topic of several analyst reports. Barclays set a $210.00 target price on Booking and gave the stock an "overweight" rating in a report on Wednesday, April 29th. DA Davidson set a $240.00 price target on Booking in a research report on Thursday, August 6th. Susquehanna reiterated a "positive" rating and set a $240.00 price objective on shares of Booking in a research note on Thursday, August 6th. Wells Fargo & Company set a $220.00 price objective on Booking and gave the company an "equal weight" rating in a report on Wednesday, August 5th. Finally, Benchmark upped their price target on shares of Booking from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $235.72.

Booking Trading Down 0.1%

BKNG stock opened at $209.62 on Friday. The firm has a market capitalization of $157.50 billion, a PE ratio of 23.20, a PEG ratio of 1.27 and a beta of 1.07. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $231.80. The business's 50 day simple moving average is $188.60 and its 200 day simple moving average is $177.19.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly 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 negative return on equity of 102.96% and a net margin of 25.53%.The business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter last year, the firm posted $55.40 EPS. The company's quarterly revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts predict that Booking Holdings Inc. will post 10.47 EPS for the current fiscal year.

Booking Announces Dividend

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 given a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. Booking's dividend payout ratio is presently 18.58%.

Insider Activity at Booking

In other Booking news, VP Peter J. Millones sold 50,050 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were 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 directly owned 375,025 shares in the company, valued at $77,851,439.75. This trade represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total value of $4,220,600.00. Following the sale, the chief financial officer owned 59,794 shares of the company's stock, valued at approximately $12,618,327.82. This represents a 25.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 140,050 shares of company stock worth $26,341,680. 0.17% of the stock is owned by corporate insiders.

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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