Infusive Asset Management Inc. Trims Stock Position in Booking Holdings Inc. (NASDAQ:BKNG)

Infusive Asset Management Inc. decreased its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 22.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 926 shares of the business services provider’s stock after selling 270 shares during the quarter. Booking makes up about 2.0% of Infusive Asset Management Inc.’s holdings, making the stock its 22nd largest position. Infusive Asset Management Inc.’s holdings in Booking were worth $4,601,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd raised its position in shares of Booking by 6.9% in the 4th quarter. Covestor Ltd now owns 31 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 2 shares in the last quarter. SageView Advisory Group LLC grew its holdings in Booking by 1.6% during the 4th quarter. SageView Advisory Group LLC now owns 124 shares of the business services provider’s stock worth $616,000 after acquiring an additional 2 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of Booking by 2.2% in the 4th quarter. Belpointe Asset Management LLC now owns 95 shares of the business services provider’s stock worth $472,000 after purchasing an additional 2 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its position in shares of Booking by 7.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 46 shares of the business services provider’s stock worth $229,000 after purchasing an additional 3 shares during the last quarter. Finally, Marcum Wealth LLC grew its stake in Booking by 3.5% in the fourth quarter. Marcum Wealth LLC now owns 89 shares of the business services provider’s stock worth $443,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Booking Stock Performance

BKNG opened at $4,573.31 on Friday. The company has a market cap of $150.07 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 1.71 and a beta of 1.37. The stock has a 50-day moving average of $4,695.61 and a 200-day moving average of $4,771.47. Booking Holdings Inc. has a 52-week low of $3,180.00 and a 52-week high of $5,337.24.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating the consensus estimate of $35.82 by $5.73. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.18 billion. On average, research analysts predict that Booking Holdings Inc. will post 209.92 earnings per share for the current year.

Booking Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a $9.60 dividend. This is an increase from Booking’s previous quarterly dividend of $8.75. This represents a $38.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, March 7th. Booking’s dividend payout ratio (DPR) is currently 22.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BKNG shares. DA Davidson lifted their target price on Booking from $5,005.00 to $5,800.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Royal Bank of Canada increased their price objective on shares of Booking from $5,250.00 to $5,900.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Morgan Stanley cut their price target on Booking from $5,000.00 to $4,800.00 and set an “equal weight” rating on the stock in a report on Thursday. B. Riley upped their price objective on Booking from $5,700.00 to $6,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Citigroup raised their target price on Booking from $5,500.00 to $5,800.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5,278.66.

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.