Booking (NASDAQ:BKNG) Downgraded to Hold at Jefferies Financial Group

Jefferies Financial Group lowered shares of Booking (NASDAQ:BKNG) from a buy rating to a hold rating in a report published on Wednesday, Marketbeat reports. They currently have $4,200.00 price objective on the business services provider’s stock, down from their previous price objective of $4,350.00.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company upped their target price on shares of Booking from $3,497.00 to $3,976.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. Erste Group Bank raised Booking from a hold rating to a buy rating in a research note on Friday, June 14th. Royal Bank of Canada reissued an outperform rating and set a $3,900.00 target price on shares of Booking in a research note on Monday, August 5th. Bank of America dropped their price target on Booking from $3,950.00 to $3,750.00 and set a neutral rating for the company in a research note on Friday, August 2nd. Finally, HSBC lifted their price objective on shares of Booking from $4,220.00 to $4,230.00 and gave the company a buy rating in a research report on Tuesday, May 7th. Nine research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $4,073.38.

Booking Stock Down 0.4 %

NASDAQ BKNG opened at $3,799.21 on Wednesday. The stock’s 50-day moving average price is $3,782.84 and its 200-day moving average price is $3,699.13. The company has a market capitalization of $127.35 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40. Booking has a 52 week low of $2,733.04 and a 52 week high of $4,144.32.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share for the quarter, beating the consensus estimate of $39.22 by $2.68. The business had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $5.77 billion. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $37.62 earnings per share. Research analysts anticipate that Booking will post 177.09 EPS for the current year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $8.75 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $35.00 annualized dividend and a dividend yield of 0.92%. Booking’s dividend payout ratio (DPR) is presently 26.25%.

Insider Buying and Selling

In related news, insider Paulo Pisano sold 100 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the sale, the insider now directly owns 3,787 shares of the company’s stock, valued at approximately $14,722,379.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paulo Pisano sold 100 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the transaction, the insider now owns 3,787 shares of the company’s stock, valued at $14,722,379.07. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Glenn D. Fogel sold 750 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total value of $3,050,737.50. Following the completion of the sale, the chief executive officer now owns 24,721 shares in the company, valued at $100,556,375.65. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Precision Wealth Strategies LLC raised its stake in shares of Booking by 1.7% during the fourth quarter. Precision Wealth Strategies LLC now owns 303 shares of the business services provider’s stock valued at $1,075,000 after acquiring an additional 5 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Booking by 37.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 197 shares of the business services provider’s stock valued at $699,000 after purchasing an additional 54 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Booking by 22.0% in the 4th quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock worth $1,325,000 after buying an additional 66 shares during the period. Gryphon Financial Partners LLC lifted its holdings in shares of Booking by 45.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 151 shares of the business services provider’s stock worth $536,000 after buying an additional 47 shares during the period. Finally, EdgeRock Capital LLC bought a new position in shares of Booking during the 4th quarter worth $68,000. 92.42% of the stock is currently owned by institutional investors.

Booking Company Profile

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.