Key Points
- Booking VP Peter Millones sold 62,500 shares on May 26 at an average price of $163.67, for proceeds of about $10.23 million. The sale reduced his direct holdings by 12.82% and was made under a pre-arranged Rule 10b5-1 trading plan.
- Booking’s latest quarterly results topped expectations, with EPS of $1.14 versus the $1.08 consensus and revenue of $5.53 billion, up 16.2% year over year. Analysts now expect the company to earn 10.44 EPS for the full year.
- The company also announced a dividend of $0.42 per share, payable June 30, implying a 1.0% annualized yield. Meanwhile, Wall Street remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $227.14.
Booking Holdings Inc. (NASDAQ:BKNG - Get Free Report) VP Peter Millones sold 62,500 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total value of $10,229,375.00. Following the completion of the sale, the vice president directly owned 425,075 shares of the company's stock, valued at $69,572,025.25. This represents a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Booking Stock Performance
Shares of BKNG opened at $168.37 on Thursday. The company has a 50-day simple moving average of $170.69 and a 200-day simple moving average of $186.78. The firm has a market capitalization of $130.47 billion, a P/E ratio of 22.15, a P/E/G ratio of 0.98 and a beta of 1.10. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $233.58.
Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.06. The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.52 billion. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. The firm's revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, equities analysts forecast that Booking Holdings Inc. will post 10.44 earnings per share for the current year.
Booking Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.0%. Booking's dividend payout ratio is currently 22.11%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on BKNG shares. Piper Sandler set a $195.00 price objective on Booking in a research report on Wednesday, April 29th. Sanford C. Bernstein lowered their price objective on Booking from $216.28 to $187.92 and set a "market perform" rating on the stock in a research report on Wednesday, March 11th. Gordon Haskett boosted their price objective on Booking from $217.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Cantor Fitzgerald restated a "neutral" rating and set a $175.00 price objective (down from $180.00) on shares of Booking in a research report on Wednesday, April 29th. Finally, B. Riley Financial lowered their price objective on Booking from $272.00 to $264.00 and set a "buy" rating on the stock in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $227.14.
Check Out Our Latest Research Report on BKNG
Hedge Funds Weigh In On Booking
Hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC increased its position in shares of Booking by 34.9% during the 4th 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 stake in shares of Booking during the 4th quarter worth about $209,000. Sivia Capital Partners LLC increased its position in shares of Booking by 25.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 165 shares of the business services provider's stock worth $955,000 after purchasing an additional 33 shares in the last quarter. Schnieders Capital Management LLC. increased its position in shares of Booking by 50.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 87 shares of the business services provider's stock worth $504,000 after purchasing an additional 29 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Booking during the 2nd quarter worth about $179,000. Institutional investors own 92.42% of the company's stock.
Booking Company Profile
(
Get Free Report)
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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