State of Michigan Retirement System Has $51.29 Million Position in Booking Holdings Inc. $BKNG

State of Michigan Retirement System reduced its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,859 shares of the business services provider’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Booking were worth $51,287,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Booking by 1.0% during the first quarter. Vanguard Group Inc. now owns 2,956,462 shares of the business services provider’s stock worth $13,620,154,000 after acquiring an additional 30,054 shares in the last quarter. Northern Trust Corp raised its stake in Booking by 0.5% during the first quarter. Northern Trust Corp now owns 370,327 shares of the business services provider’s stock worth $1,706,063,000 after acquiring an additional 1,699 shares in the last quarter. Deutsche Bank AG raised its stake in Booking by 6.6% during the first quarter. Deutsche Bank AG now owns 296,331 shares of the business services provider’s stock worth $1,365,170,000 after acquiring an additional 18,268 shares in the last quarter. Nordea Investment Management AB raised its stake in Booking by 9.5% during the second quarter. Nordea Investment Management AB now owns 226,608 shares of the business services provider’s stock worth $1,297,331,000 after acquiring an additional 19,578 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Booking by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 222,200 shares of the business services provider’s stock worth $1,023,655,000 after acquiring an additional 8,015 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BKNG has been the subject of several recent analyst reports. DA Davidson increased their price objective on Booking from $6,500.00 to $6,600.00 and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp increased their price objective on Booking from $6,450.00 to $6,630.00 and gave the stock an “overweight” rating in a research note on Wednesday. BTIG Research restated a “buy” rating and issued a $6,250.00 target price on shares of Booking in a research note on Wednesday. Morgan Stanley set a $6,150.00 target price on Booking in a research note on Wednesday. Finally, The Goldman Sachs Group raised their target price on Booking from $5,640.00 to $6,050.00 and gave the company a “neutral” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6,121.23.

Insider Buying and Selling

In related news, CEO Glenn D. Fogel sold 625 shares of Booking stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $5,141.53, for a total value of $3,213,456.25. Following the completion of the sale, the chief executive officer directly owned 22,982 shares in the company, valued at $118,162,642.46. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry Quinlan sold 64 shares of Booking stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $5,511.80, for a total value of $352,755.20. Following the completion of the sale, the director owned 131 shares of the company’s stock, valued at approximately $722,045.80. The trade was a 32.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,197 shares of company stock worth $17,260,963 over the last three months. 0.16% of the stock is currently owned by company insiders.

Booking Stock Down 0.0%

Shares of BKNG stock opened at $5,077.74 on Friday. The stock has a 50-day moving average price of $5,381.21 and a 200 day moving average price of $5,393.18. The firm has a market cap of $164.57 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 1.57 and a beta of 1.35. Booking Holdings Inc. has a 12 month low of $4,096.23 and a 12 month high of $5,839.41.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Tuesday, October 28th. The business services provider reported $99.50 EPS for the quarter, topping analysts’ consensus estimates of $95.56 by $3.94. The firm had revenue of $9.01 billion during the quarter, compared to analyst estimates of $8.71 billion. Booking had a negative return on equity of 134.86% and a net margin of 19.37%.The company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $83.39 earnings per share. Booking has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts predict that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be given a $9.60 dividend. This represents a $38.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, December 5th. Booking’s dividend payout ratio (DPR) is presently 24.96%.

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.