Infusive Asset Management Inc. Increases Stake in Booking Holdings Inc. (NASDAQ:BKNG)

Infusive Asset Management Inc. boosted its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 75.9% in the 3rd quarter, Holdings Channel reports. The fund owned 1,196 shares of the business services provider’s stock after buying an additional 516 shares during the period. Booking makes up 2.1% of Infusive Asset Management Inc.’s investment portfolio, making the stock its 20th largest position. Infusive Asset Management Inc.’s holdings in Booking were worth $5,038,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BKNG. Cetera Investment Advisers increased its position in shares of Booking by 707.2% in the first quarter. Cetera Investment Advisers now owns 7,241 shares of the business services provider’s stock valued at $26,270,000 after buying an additional 6,344 shares in the last quarter. Cetera Advisors LLC increased its position in shares of Booking by 45.9% in the first quarter. Cetera Advisors LLC now owns 986 shares of the business services provider’s stock valued at $3,577,000 after buying an additional 310 shares in the last quarter. Cetera Advisor Networks LLC increased its position in shares of Booking by 3.8% in the first quarter. Cetera Advisor Networks LLC now owns 5,641 shares of the business services provider’s stock valued at $20,466,000 after buying an additional 204 shares in the last quarter. Soltis Investment Advisors LLC purchased a new stake in shares of Booking in the first quarter valued at approximately $488,000. Finally, Mosaic Family Wealth Partners LLC purchased a new stake in shares of Booking in the first quarter valued at approximately $308,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BKNG. B. Riley boosted their price target on Booking from $4,650.00 to $5,100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Bank of America boosted their price target on Booking from $4,448.00 to $4,850.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Susquehanna boosted their price target on Booking from $4,100.00 to $5,500.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their price target on Booking from $4,900.00 to $5,200.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada boosted their price target on Booking from $3,900.00 to $5,250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4,820.50.

Booking Price Performance

Shares of NASDAQ BKNG opened at $5,223.15 on Friday. The stock’s 50-day moving average is $4,576.71 and its two-hundred day moving average is $4,079.32. Booking Holdings Inc. has a 1-year low of $3,079.50 and a 1-year high of $5,237.00. The company has a market cap of $172.89 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 1.62 and a beta of 1.38.

Booking Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $8.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $35.00 dividend on an annualized basis and a dividend yield of 0.67%. Booking’s payout ratio is currently 23.75%.

Booking 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.