Barclays Trims Booking (NASDAQ:BKNG) Target Price to $3,900.00

Booking (NASDAQ:BKNG) had its target price decreased by Barclays from $4,300.00 to $3,900.00 in a report released on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the business services provider’s stock.

Several other research analysts have also recently commented on the stock. BMO Capital Markets restated an outperform rating and set a $4,205.00 target price (up previously from $4,150.00) on shares of Booking in a report on Friday, May 3rd. StockNews.com raised Booking from a hold rating to a buy rating in a research report on Thursday, July 18th. DA Davidson increased their price target on Booking from $4,100.00 to $4,150.00 and gave the company a buy rating in a research report on Friday, May 3rd. Argus boosted their price target on Booking from $4,200.00 to $4,342.00 and gave the stock a buy rating in a research report on Tuesday, June 4th. Finally, Benchmark raised Booking from a hold rating to a buy rating and set a $4,700.00 price objective for the company in a report on Friday, July 12th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $4,068.32.

Booking Trading Up 1.2 %

Shares of NASDAQ:BKNG traded up $41.13 during mid-day trading on Friday, reaching $3,369.26. The stock had a trading volume of 392,415 shares, compared to its average volume of 256,823. The firm has a market cap of $114.32 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 1.09 and a beta of 1.38. The firm has a 50 day simple moving average of $3,872.03 and a two-hundred day simple moving average of $3,692.09. Booking has a twelve month low of $2,733.04 and a twelve month high of $4,144.32.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share for the quarter, beating analysts’ consensus estimates of $39.22 by $2.68. The firm had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.77 billion. Booking had a net margin of 22.46% and a negative return on equity of 237.46%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $37.62 earnings per share. On average, equities analysts anticipate that Booking will post 178.9 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a dividend of $8.75 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $35.00 annualized dividend and a yield of 1.04%. Booking’s dividend payout ratio is currently 26.25%.

Insider Transactions at Booking

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

Hedge Funds Weigh In On Booking

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Naples Money Management LLC bought a new stake in shares of Booking in the 4th quarter valued at $25,000. ICA Group Wealth Management LLC bought a new stake in Booking during the fourth quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Booking during the 4th quarter worth about $28,000. Bourgeon Capital Management LLC acquired a new position in shares of Booking in the 4th quarter valued at about $28,000. Finally, Grove Bank & Trust boosted its position in shares of Booking by 133.3% during the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 4 shares in the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

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.