TIAA Trust National Association Has $3.30 Million Position in Booking Holdings Inc. (NASDAQ:BKNG)

Key Points

• TIAA Trust National Association reduced its stake in Booking Holdings Inc. by 29.0% during the 1st quarter, holding 717 shares valued at $3,303,000 after selling 293 shares.
• Booking recently announced a quarterly dividend of $9.60 per share, to be paid on September 30th, with an annualized yield of 0.7%.
• Booking Holdings reported earnings of $55.40 per share for the last quarter, exceeding analyst expectations and reflecting a 16.0% year-over-year revenue increase.

TIAA Trust National Association lessened its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 29.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 717 shares of the business services provider's stock after selling 293 shares during the quarter. TIAA Trust National Association's holdings in Booking were worth $3,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BKNG. Brighton Jones LLC lifted its stake in shares of Booking by 34.9% during the fourth quarter. Brighton Jones LLC now owns 251 shares of the business services provider's stock worth $1,249,000 after purchasing an additional 65 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Booking during the fourth quarter worth about $209,000. KCM Investment Advisors LLC increased its position in shares of Booking by 6.8% during the fourth quarter. KCM Investment Advisors LLC now owns 394 shares of the business services provider's stock worth $1,958,000 after acquiring an additional 25 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Booking by 1.4% during the fourth quarter. Quadrant Capital Group LLC now owns 210 shares of the business services provider's stock worth $1,043,000 after acquiring an additional 3 shares during the last quarter. Finally, Waterloo Capital L.P. increased its position in shares of Booking by 4.1% during the fourth quarter. Waterloo Capital L.P. now owns 176 shares of the business services provider's stock worth $875,000 after acquiring an additional 7 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Insiders Place Their Bets

In other news, CEO Glenn D. Fogel sold 1,013 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $5,695.00, for a total transaction of $5,769,035.00. Following the completion of the sale, the chief executive officer owned 26,633 shares in the company, valued at approximately $151,674,935. This represents a 3.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 3,039 shares of company stock valued at $16,963,769 in the last three months. Corporate insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BKNG shares. Susquehanna lifted their target price on Booking from $6,000.00 to $6,500.00 and gave the stock a "positive" rating in a research report on Friday. Royal Bank Of Canada lifted their target price on Booking from $5,900.00 to $6,100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. BMO Capital Markets reaffirmed an "outperform" rating and set a $6,000.00 target price (up from $5,700.00) on shares of Booking in a research report on Wednesday, July 30th. DA Davidson lifted their target price on Booking from $5,750.00 to $6,500.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Booking in a research report on Wednesday, July 30th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $5,781.04.

Booking Stock Down 0.3%

BKNG traded down $18.23 during trading on Tuesday, reaching $5,457.86. The stock had a trading volume of 221,766 shares, compared to its average volume of 197,576. The firm has a market capitalization of $176.89 billion, a price-to-earnings ratio of 37.96, a price-to-earnings-growth ratio of 1.58 and a beta of 1.41. Booking Holdings Inc. has a 1-year low of $3,291.80 and a 1-year high of $5,839.41. The stock has a 50 day moving average of $5,571.66 and a two-hundred day moving average of $5,081.53.

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

Booking Announces Dividend

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

About Booking

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.