National Pension Service Increases Stock Position in Booking Holdings Inc. $BKNG

National Pension Service raised its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2,690.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,185,020 shares of the business services provider’s stock after acquiring an additional 2,106,726 shares during the period. National Pension Service’s holdings in Booking were worth $422,678,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BKNG. California State Teachers Retirement System boosted its position in shares of Booking by 419,256.0% during the 2nd quarter. California State Teachers Retirement System now owns 214,651,580 shares of the business services provider’s stock worth $38,259,498,000 after purchasing an additional 214,600,394 shares during the period. BlackRock Inc. purchased a new stake in Booking in the second quarter valued at approximately $11,646,302,000. Deutsche Bank AG acquired a new position in Booking during the second quarter worth $1,691,186,000. Bank of New York Mellon Corp acquired a new position in Booking during the second quarter worth $1,370,455,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Booking by 2,525.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,101,866 shares of the business services provider’s stock worth $1,087,597,000 after buying an additional 5,869,459 shares during the period. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert J. Mylod, Jr. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $200.00, for a total value of $1,000,000.00. Following the sale, the director directly owned 16,000 shares in the company, valued at approximately $3,200,000. This trade represents a 23.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 50,050 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the completion of the sale, the vice president owned 375,025 shares in the company, valued at $77,851,439.75. The trade was a 11.77% 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. Insiders have sold 81,550 shares of company stock valued at $16,922,744 over the last ninety days. 0.17% of the stock is currently owned by corporate insiders.

Booking Price Performance

Shares of NASDAQ BKNG opened at $173.43 on Thursday. The stock’s 50-day moving average is $194.39 and its two-hundred day moving average is $178.77. Booking Holdings Inc. has a 1-year low of $150.14 and a 1-year high of $225.00. The company has a market cap of $130.31 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 1.12 and a beta of 1.07.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The business had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter last year, the business posted $55.40 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 annualized dividend and a yield of 1.0%. Booking’s dividend payout ratio (DPR) is 18.58%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BKNG. Cantor Fitzgerald lifted their price objective on Booking from $175.00 to $220.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Oppenheimer restated an “outperform” rating and set a $240.00 target price (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. Mizuho set a $240.00 target price on Booking in a research report on Wednesday, August 5th. DA Davidson set a $240.00 price target on shares of Booking in a research note on Thursday, August 6th. Finally, B. Riley Financial reissued a “buy” rating and set a $274.00 price target (up from $264.00) on shares of Booking in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Booking currently has a consensus rating of “Moderate Buy” and an average price target of $236.70.

Key Stories Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Travel demand remains relatively resilient despite geopolitical conflicts and a slower macroeconomic environment, supporting the outlook for Booking’s accommodation and travel-reservation businesses. Booking Holdings Stock: A Travel Stock to Buy Right Now?
• Positive Sentiment: Analyst-oriented coverage continues to characterize Booking as a growth stock, reflecting its scale, profitability and potential for continued expansion in online travel. The company’s most recent reported quarter also exceeded earnings and revenue expectations, providing fundamental support. Why Booking Holdings Is a Strong Growth Stock
• Neutral Sentiment: Booking executives recently participated in Goldman Sachs and Citi technology conferences. The transcripts may provide insight into demand trends, artificial intelligence, competition and capital allocation, but the available headlines do not identify a specific new forecast or material change in guidance. Goldman Sachs Conference Transcript Citi Conference Transcript
• Negative Sentiment: The European court rejected Booking’s challenge to the EU veto of its ETraveli acquisition, effectively ending the company’s effort to purchase the flight-booking platform. The ruling removes a potential avenue for expansion and could weigh on investor sentiment regarding Booking’s regulatory exposure and acquisition strategy. Booking Loses Court Fight Against EU Veto of ETraveli Deal

About Booking

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.