Booking Holdings Inc. $BKNG Holdings Cut by State Street Corp

State Street Corp decreased its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 75.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,428,925 shares of the business services provider’s stock after selling 4,385,566 shares during the period. State Street Corp owned 4.41% of Booking worth $8,272,390,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BKNG. Atwood & Palmer Inc. bought a new position in shares of Booking during the second quarter worth about $29,000. Westside Investment Management Inc. boosted its stake in Booking by 400.0% during the 2nd quarter. Westside Investment Management Inc. now owns 5 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 4 shares during the period. Wealth Preservation Advisors LLC acquired a new position in Booking during the 1st quarter valued at about $28,000. O Brien Wealth Partners LLC bought a new position in Booking in the 2nd quarter worth about $35,000. Finally, First PREMIER Bank increased its stake in shares of Booking by 100.0% in the second quarter. First PREMIER Bank now owns 6 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 3 shares during the period. 92.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BKNG. BNP Paribas set a $6,100.00 price objective on Booking in a research report on Monday, November 24th. Deutsche Bank Aktiengesellschaft increased their price target on Booking from $6,723.00 to $6,790.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Wells Fargo & Company lifted their price objective on shares of Booking from $5,443.00 to $5,523.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group increased their target price on shares of Booking from $5,640.00 to $6,050.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Gordon Haskett dropped their price target on shares of Booking from $5,680.00 to $5,620.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $6,146.23.

Booking Price Performance

BKNG stock opened at $5,177.39 on Tuesday. The firm has a market cap of $166.87 billion, a PE ratio of 33.65, a P/E/G ratio of 1.31 and a beta of 1.25. Booking Holdings Inc. has a 12 month low of $4,096.23 and a 12 month high of $5,839.41. The firm has a 50 day simple moving average of $5,071.78 and a 200 day simple moving average of $5,382.00.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Tuesday, October 28th. The business services provider reported $99.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $95.56 by $3.94. The company had revenue of $9.01 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Booking had a negative return on equity of 134.86% and a net margin of 19.37%.The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $83.39 earnings per share. As a group, sell-side analysts expect that Booking Holdings Inc. will post 209.92 earnings per share for the current year.

Booking Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a $9.60 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $38.40 dividend on an annualized basis and a yield of 0.7%. Booking’s dividend payout ratio (DPR) is currently 24.96%.

Insider Buying and Selling

In other Booking news, Director Robert J. Mylod, Jr. sold 40 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $5,000.00, for a total value of $200,000.00. Following the completion of the transaction, the director directly owned 960 shares in the company, valued at $4,800,000. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paulo Pisano sold 200 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $5,000.00, for a total transaction of $1,000,000.00. Following the sale, the insider owned 1,514 shares in the company, valued at $7,570,000. This represents a 11.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,388 shares of company stock worth $17,629,822 in the last quarter. 0.16% of the stock is currently owned by corporate insiders.

Booking Company 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.