Booking Holdings Inc. $BKNG Position Lessened by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 30.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,467 shares of the business services provider’s stock after selling 22,554 shares during the period. Pictet Asset Management Holding SA’s holdings in Booking were worth $212,473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Booking by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 2,997,949 shares of the business services provider’s stock valued at $16,055,006,000 after buying an additional 23,159 shares during the last quarter. J. Stern & Co. LLP increased its holdings in Booking by 191,965.8% in the fourth quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider’s stock worth $15,171,489,000 after buying an additional 2,831,495 shares during the last quarter. State Street Corp raised its position in Booking by 0.5% during the fourth quarter. State Street Corp now owns 1,435,116 shares of the business services provider’s stock valued at $7,685,520,000 after acquiring an additional 6,976 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Booking by 15.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 966,121 shares of the business services provider’s stock worth $5,173,899,000 after acquiring an additional 128,700 shares in the last quarter. Finally, Dodge & Cox grew its position in Booking by 8.4% in the fourth quarter. Dodge & Cox now owns 732,081 shares of the business services provider’s stock worth $3,920,535,000 after acquiring an additional 56,999 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking Stock Performance

Booking stock opened at $181.46 on Friday. The business’s 50-day simple moving average is $169.06 and its 200-day simple moving average is $182.47. The firm has a market capitalization of $140.61 billion, a PE ratio of 23.87, a PEG ratio of 1.08 and a beta of 1.08. Booking Holdings Inc. has a 52 week low of $150.14 and a 52 week high of $233.58.

Booking (NASDAQ:BKNG) last announced its earnings results on Tuesday, April 28th. The business services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. The firm had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.52 billion. Booking had a negative return on equity of 117.14% and a net margin of 22.23%.The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 EPS. Research analysts forecast that Booking Holdings Inc. will post 10.44 earnings per share for the current year.

Booking Dividend Announcement

The firm 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 $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th. Booking’s dividend payout ratio is currently 22.11%.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: BTIG reportedly initiated or reiterated a Buy rating on Booking Holdings, adding to the generally optimistic analyst backdrop. Booking Holdings (BKNG) Gets a Buy from BTIG
• Positive Sentiment: Some investors view the recent selloff as a buying opportunity, arguing that Booking remains a high-quality travel platform with strong cash flow, margins, and fair-to-attractive valuation. Booking Holdings: Selloff May Be More Of An Opportunity Than Warning
• Positive Sentiment: Another bullish note said Booking has a strong earnings track record, leadership in online travel, and potential upside from temporary concerns being overdone. Booking Holdings: Strong Track Record At A Discount
• Positive Sentiment: Booking shares rallied after crude oil prices fell below $70, a move seen as potentially lowering travel costs and boosting booking demand. Booking (BKNG) Shares Skyrocket, What You Need To Know
• Neutral Sentiment: Several articles focused on Wall Street’s generally bullish consensus on Booking, with the average brokerage recommendation at Buy, though the pieces also questioned how useful analyst ratings are as a signal. Is Booking Holdings (BKNG) a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: Bernstein was reported to have a Hold rating on BKNG, which may temper some of the more upbeat sentiment around the stock. Booking Holdings (BKNG) Receives a Hold from Bernstein
• Negative Sentiment: Booking also saw a recent one-day decline that outpaced the broader market, reflecting some ongoing volatility after the stock’s earlier run-up. Here’s Why Booking Holdings (BKNG) Fell More Than Broader Market

Insider Activity

In related news, Director Vanessa Ames Wittman sold 1,125 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the completion of the transaction, the director directly owned 16,050 shares in the company, valued at $3,081,600. This represents a 6.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total transaction 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 approximately $69,572,025.25. This trade represents a 12.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 80,351 shares of company stock valued at $13,545,706. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BKNG shares. Argus raised their price target on shares of Booking from $188.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Mizuho lowered their target price on shares of Booking from $230.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Barclays set a $210.00 price target on Booking and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. UBS Group raised their price objective on Booking from $259.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. reduced their target price on Booking from $224.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Booking currently has a consensus rating of “Moderate Buy” and an average target price of $227.14.

Booking Profile

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.