Booking (NASDAQ:BKNG) Price Target Lowered to $4,200.00 at Oppenheimer

Booking (NASDAQ:BKNG) had its target price reduced by Oppenheimer from $4,600.00 to $4,200.00 in a report released on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the business services provider’s stock.

Several other brokerages have also issued reports on BKNG. HSBC increased their price target on shares of Booking from $4,220.00 to $4,230.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. Wells Fargo & Company lifted their target price on shares of Booking from $3,494.00 to $3,497.00 and gave the company an equal weight rating in a report on Tuesday, July 9th. Benchmark dropped their price target on Booking from $4,700.00 to $4,600.00 and set a buy rating on the stock in a research report on Friday. Wedbush lifted their price objective on Booking from $3,850.00 to $4,200.00 and gave the company an outperform rating in a research note on Wednesday. Finally, Bank of America increased their target price on Booking from $3,900.00 to $3,950.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Booking currently has an average rating of Moderate Buy and a consensus target price of $4,039.73.

Booking Stock Down 9.2 %

Shares of BKNG stock opened at $3,328.13 on Friday. The stock has a fifty day moving average of $3,872.03 and a 200 day moving average of $3,689.37. The firm has a market capitalization of $112.92 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.09 and a beta of 1.38. Booking has a 52 week low of $2,733.04 and a 52 week high of $4,144.32.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data 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. Booking had a negative return on equity of 237.46% and a net margin of 22.46%. The business had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the previous year, the firm posted $37.62 EPS. The business’s revenue was up 7.3% on a year-over-year basis. Equities research analysts anticipate that Booking will post 178.9 earnings per share for the current year.

Booking Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $8.75 dividend. The ex-dividend date is Friday, September 6th. This represents a $35.00 annualized dividend and a dividend yield of 1.05%. Booking’s dividend payout ratio (DPR) is 26.25%.

Insider Activity at Booking

In other Booking news, CEO Glenn D. Fogel sold 750 shares of the company’s stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Glenn D. Fogel sold 750 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were 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 directly owns 24,721 shares of the company’s stock, valued at approximately $100,556,375.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paulo Pisano sold 227 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $3,580.75, for a total transaction of $812,830.25. Following the sale, the insider now owns 4,233 shares in the company, valued at approximately $15,157,314.75. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Booking in the fourth quarter worth about $1,742,160,000. Global Assets Advisory LLC purchased a new position in Booking in the 1st quarter worth approximately $401,371,000. International Assets Investment Management LLC bought a new position in Booking in the 4th quarter worth approximately $3,774,850,000. BlueSpruce Investments LP purchased a new stake in Booking during the 4th quarter valued at approximately $220,080,000. Finally, Bessemer Group Inc. raised its position in shares of Booking by 4,565.4% during the first quarter. Bessemer Group Inc. now owns 62,610 shares of the business services provider’s stock valued at $227,143,000 after buying an additional 61,268 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.

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.