CI Investments Inc. reduced its stake in Booking Holdings Inc. (NASDAQ:BKNG – Free Report) by 55.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,521 shares of the business services provider’s stock after selling 21,564 shares during the period. CI Investments Inc.’s holdings in Booking were worth $73,769,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Booking by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 2,997,949 shares of the business services provider’s stock valued at $16,055,006,000 after purchasing an additional 23,159 shares during the period. J. Stern & Co. LLP increased its holdings in Booking by 191,965.8% during the 4th quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider’s stock worth $15,171,489,000 after purchasing an additional 2,831,495 shares during the period. State Street Corp increased its holdings in Booking by 0.5% during the 4th quarter. State Street Corp now owns 1,435,116 shares of the business services provider’s stock worth $7,685,520,000 after purchasing an additional 6,976 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Booking by 15.4% during the 4th 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 purchasing an additional 128,700 shares during the period. Finally, Dodge & Cox raised its position in Booking by 8.4% during the 4th quarter. Dodge & Cox now owns 732,081 shares of the business services provider’s stock valued at $3,920,535,000 after purchasing an additional 56,999 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.
Booking Trading Down 0.0%
Shares of NASDAQ:BKNG opened at $179.40 on Wednesday. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $231.80. The business’s fifty day simple moving average is $170.69 and its 200-day simple moving average is $178.71. The company has a market capitalization of $139.01 billion, a PE ratio of 23.60, a P/E/G ratio of 1.07 and a beta of 1.07.
Booking Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, June 5th. Booking’s payout ratio is 22.11%.
Insider Buying and Selling
In other Booking news, VP Peter J. Millones sold 62,500 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total value of $10,229,375.00. Following the completion of the transaction, the vice president directly owned 425,075 shares in the company, valued at approximately $69,572,025.25. The trade was a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.17% of the company’s stock.
Analyst Ratings Changes
BKNG has been the subject of several research reports. Jefferies Financial Group upped their target price on Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Wall Street Zen lowered shares of Booking from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Evercore set a $245.00 price objective on shares of Booking in a research note on Wednesday, April 29th. Robert W. Baird dropped their target price on shares of Booking from $234.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Finally, Tigress Financial reissued a “strong-buy” rating and set a $260.00 target price (up from $244.00) on shares of Booking in a research report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Booking has an average rating of “Moderate Buy” and an average target price of $227.05.
Booking Company 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.
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