Westpac Banking Corp Purchases 260 Shares of Booking Holdings Inc. (NASDAQ:BKNG)

Key Points

• Westpac Banking Corp increased its stake in Booking Holdings Inc. by 10.6% in Q1, owning 2,707 shares valued at approximately $12.47 million, making it the bank's 16th largest holding.
• CEO Glenn D. Fogel recently sold 1,013 shares for over $5.76 million, reducing his ownership by 3.66%, and insiders sold a combined total of 3,039 shares worth about $16.96 million in the past ninety days.
• Booking declared a quarterly dividend of $9.60 per share, with the ex-dividend date set for September 5th, and analysts have set a price target range between $5,650.00 and $6,500.00 based on recent evaluations.

Westpac Banking Corp increased its position in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 10.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,707 shares of the business services provider's stock after purchasing an additional 260 shares during the period. Booking accounts for about 0.9% of Westpac Banking Corp's investment portfolio, making the stock its 16th biggest holding. Westpac Banking Corp's holdings in Booking were worth $12,471,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BKNG. Kapitalo Investimentos Ltda acquired a new position in Booking in the fourth quarter valued at approximately $40,000. Alpine Bank Wealth Management acquired a new stake in Booking in the first quarter worth approximately $41,000. North Capital Inc. acquired a new stake in Booking in the first quarter worth approximately $46,000. Mechanics Financial Corp acquired a new stake in Booking in the first quarter worth approximately $46,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in Booking in the fourth quarter worth approximately $50,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Glenn D. Fogel sold 1,013 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 26,633 shares of the company's stock, valued at approximately $151,674,935. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 3,039 shares of company stock worth $16,963,769 over the last 90 days. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BKNG shares. Erste Group Bank upgraded shares of Booking from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. Wall Street Zen raised shares of Booking from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. increased their price target on shares of Booking from $5,360.00 to $6,000.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Benchmark reissued a "buy" rating and set a $6,200.00 price target (up from $6,000.00) on shares of Booking in a research note on Wednesday, July 30th. Finally, Hsbc Global Res upgraded shares of Booking to a "strong-buy" rating in a report on Thursday, July 17th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $5,781.04.

Booking Stock Performance

Booking stock traded down $30.48 during mid-day trading on Friday, hitting $5,454.29. 155,871 shares of the company traded hands, compared to its average volume of 250,535. Booking Holdings Inc. has a one year low of $3,592.28 and a one year high of $5,839.41. The stock has a market cap of $176.77 billion, a price-to-earnings ratio of 37.93, a price-to-earnings-growth ratio of 1.57 and a beta of 1.41. The stock has a fifty day moving average price of $5,562.05 and a 200-day moving average price of $5,115.58.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $55.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $50.32 by $5.08. Booking had a net margin of 19.23% and a negative return on equity of 134.19%. The company had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.54 billion. During the same quarter in the prior year, the company earned $41.90 EPS. The firm's revenue was up 16.0% on a year-over-year basis. Sell-side analysts predict that Booking Holdings Inc. will post 209.92 EPS for the current year.

Booking Dividend Announcement

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