Booking (NASDAQ:BKNG) Price Target Raised to $4,200.00

Booking (NASDAQ:BKNG) had its target price lifted by Morgan Stanley from $4,000.00 to $4,200.00 in a report released on Thursday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

Other research analysts also recently issued research reports about the company. Bank of America reduced their target price on Booking from $3,950.00 to $3,750.00 and set a neutral rating on the stock in a report on Friday, August 2nd. Evercore ISI decreased their price objective on Booking from $4,500.00 to $4,200.00 and set an outperform rating for the company in a report on Friday, August 2nd. Jefferies Financial Group lowered Booking from a buy rating to a hold rating and lowered their price objective for the company from $4,350.00 to $4,200.00 in a research report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Booking from $4,025.00 to $3,860.00 and set an overweight rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com cut shares of Booking from a buy rating to a hold rating in a research report on Monday, August 5th. Eleven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Booking currently has an average rating of Moderate Buy and an average target price of $4,064.21.

Booking Stock Down 1.1 %

Shares of BKNG stock opened at $3,731.35 on Thursday. The firm has a market capitalization of $126.60 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.19 and a beta of 1.40. The stock has a fifty day moving average of $3,773.69 and a 200 day moving average of $3,699.80. Booking has a 52 week low of $2,733.04 and a 52 week high of $4,144.32.

Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, August 1st. The business services provider reported $41.90 EPS for the quarter, topping the consensus estimate of $39.22 by $2.68. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. The firm had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period last year, the company posted $37.62 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that Booking will post 177.09 earnings per share for the current year.

Booking Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $8.75 per share. The ex-dividend date is Friday, September 6th. This represents a $35.00 annualized dividend and a dividend yield of 0.94%. Booking’s payout ratio is 26.25%.

Insider Activity at Booking

In other Booking news, CEO Glenn D. Fogel sold 750 shares of Booking stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $4,067.65, for a total value of $3,050,737.50. Following the completion of the sale, the chief executive officer now owns 24,721 shares of the company’s stock, valued at approximately $100,556,375.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Paulo Pisano sold 100 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the transaction, the insider now owns 3,787 shares in the company, valued at approximately $14,722,379.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glenn D. Fogel sold 750 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the completion of the transaction, the chief executive officer now directly owns 24,721 shares in the company, valued at approximately $100,556,375.65. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Institutional Trading of Booking

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC bought a new stake in shares of Booking during the 4th quarter valued at $25,000. Grove Bank & Trust grew its holdings in Booking by 133.3% during the second quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 4 shares during the period. POM Investment Strategies LLC bought a new stake in Booking during the second quarter valued at about $28,000. Kings Path Partners LLC purchased a new stake in Booking in the second quarter worth about $28,000. Finally, Financial Connections Group Inc. bought a new position in shares of Booking in the second quarter worth about $31,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

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.