Booking Holdings Inc. $BKNG Stock: Bank Pictet & Cie Europe AG Reduces Holdings

Bank Pictet & Cie Europe AG lowered its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 76,549 shares of the business services provider’s stock after selling 5,076 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Booking were worth $12,471,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Booking during the second quarter worth $11,646,302,000. State Street Corp lifted its position in Booking by 2,674.6% in the 2nd quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock valued at $7,026,348,000 after acquiring an additional 37,999,915 shares in the last quarter. Bank of Nova Scotia boosted its stake in Booking by 1,497.3% in the 1st quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider’s stock worth $3,665,168,000 after purchasing an additional 816,022 shares during the period. Deutsche Bank AG acquired a new position in Booking in the 2nd quarter worth $1,691,186,000. Finally, Bank of New York Mellon Corp bought a new position in Booking during the 2nd quarter worth about $1,370,455,000. Institutional investors own 92.42% of the company’s stock.

Booking Price Performance

BKNG stock traded up $0.79 during mid-day trading on Tuesday, reaching $163.39. The company had a trading volume of 3,130,926 shares, compared to its average volume of 8,128,051. The stock has a 50 day simple moving average of $181.07 and a two-hundred day simple moving average of $177.57. The company has a market capitalization of $122.77 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.01 and a beta of 1.13. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $220.81.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. The company had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $55.40 EPS. On average, equities analysts predict that Booking Holdings Inc. will post 10.48 EPS for the current year.

Booking Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were paid a $0.42 dividend. The ex-dividend date was Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a yield of 1.0%. Booking’s dividend payout ratio (DPR) is currently 18.58%.

Analysts Set New Price Targets

BKNG has been the topic of several recent research reports. Benchmark lifted their price target on Booking from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Mizuho set a $240.00 price objective on Booking in a report on Wednesday, August 5th. Weiss Ratings upgraded Booking from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Wedbush lifted their target price on Booking from $211.00 to $247.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $188.00 target price on shares of Booking in a research note on Wednesday, August 26th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Booking currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.71.

Insider Buying and Selling

In other news, Director Robert Mylod, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the transaction, the director directly owned 16,000 shares in the company, valued at $3,200,000. The trade was a 23.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $203.48, for a total transaction of $610,440.00. Following the completion of the sale, the insider directly owned 73,400 shares in the company, valued at approximately $14,935,432. The trade was a 3.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 84,550 shares of company stock worth $17,426,864. Corporate insiders own 0.17% of the company’s stock.

Booking Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.