Morgan Stanley Boosts Booking (NASDAQ:BKNG) Price Target to $4,000.00

Booking (NASDAQ:BKNG) had its price objective lifted by Morgan Stanley from $3,700.00 to $4,000.00 in a research note released on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

A number of other research analysts have also recently weighed in on BKNG. Wedbush restated an outperform rating and issued a $3,850.00 price objective on shares of Booking in a report on Tuesday, April 30th. HSBC lifted 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. Barclays raised their price objective on shares of Booking from $3,800.00 to $4,300.00 and gave the company an overweight rating in a report on Thursday, July 11th. BMO Capital Markets reiterated an outperform rating and set a $4,205.00 target price (up previously from $4,150.00) on shares of Booking in a research note on Friday, May 3rd. Finally, Wells Fargo & Company raised their price target on Booking from $3,494.00 to $3,497.00 and gave the company an equal weight rating in a research note on Tuesday, July 9th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Booking currently has an average rating of Moderate Buy and a consensus target price of $4,056.31.

Booking Stock Performance

NASDAQ:BKNG opened at $3,659.88 on Tuesday. Booking has a fifty-two week low of $2,733.04 and a fifty-two week high of $4,144.32. The company has a 50 day moving average price of $3,887.79 and a 200 day moving average price of $3,683.44. The stock has a market capitalization of $124.18 billion, a P/E ratio of 27.45, a PEG ratio of 1.17 and a beta of 1.38.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Thursday, May 2nd. The business services provider reported $20.39 EPS for the quarter, topping analysts’ consensus estimates of $14.03 by $6.36. The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Booking had a negative return on equity of 288.35% and a net margin of 21.81%. The firm’s revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $11.60 earnings per share. Research analysts forecast that Booking will post 178.55 earnings per share for the current fiscal year.

Booking Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $8.75 per share. This represents a $35.00 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, June 7th. Booking’s dividend payout ratio (DPR) is 26.25%.

Insider Buying and Selling at Booking

In other news, CEO Glenn D. Fogel sold 750 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. In other Booking news, insider Paulo Pisano sold 227 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $3,580.75, for a total value of $812,830.25. Following the sale, the insider now owns 4,233 shares of the company’s stock, valued at $15,157,314.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn D. Fogel sold 750 shares of Booking 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 transaction, the chief executive officer now owns 24,721 shares of the company’s stock, valued at $100,556,375.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 999 shares of company stock valued at $3,939,187. 0.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Booking

Large investors have recently bought and sold shares of the stock. Activest Wealth Management purchased a new stake in Booking during the 4th quarter worth about $25,000. Naples Money Management LLC purchased a new position in shares of Booking during the 4th quarter worth about $25,000. ICA Group Wealth Management LLC acquired a new position in Booking during the fourth quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Booking during the fourth quarter worth approximately $28,000. Finally, Bourgeon Capital Management LLC purchased a new position in Booking during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

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.