20,851 Shares in Booking Holdings Inc. $BKNG Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. purchased a new stake in Booking Holdings Inc. (NASDAQ:BKNG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 20,851 shares of the business services provider’s stock, valued at approximately $3,717,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Booking in the 2nd quarter worth $11,646,302,000. Deutsche Bank AG bought a new stake in shares of Booking during the 2nd quarter valued at about $1,691,186,000. Bank of New York Mellon Corp bought a new stake in shares of Booking during the 2nd quarter valued at about $1,370,455,000. J. Stern & Co. LLP increased its position in shares of Booking by 191,965.8% during the fourth quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider’s stock valued at $15,171,489,000 after buying an additional 2,831,495 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Booking during the second quarter valued at about $472,723,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Price Performance

NASDAQ:BKNG opened at $213.36 on Tuesday. Booking Holdings Inc. has a one year low of $150.14 and a one year high of $230.98. The company’s 50-day simple moving average is $189.38 and its 200 day simple moving average is $177.09. The firm has a market capitalization of $160.31 billion, a P/E ratio of 23.61, a PEG ratio of 1.27 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 for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the prior year, the company earned $55.40 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that Booking Holdings Inc. will post 10.47 earnings per share for the current fiscal year.

Booking Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be paid a $0.42 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. Booking’s dividend payout ratio is presently 18.58%.

Analysts Set New Price Targets

BKNG has been the subject of several research analyst reports. Royal Bank Of Canada lowered their price objective on shares of Booking from $244.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Citigroup reiterated a “buy” rating and set a $236.00 target price (up from $225.00) on shares of Booking in a report on Wednesday, August 5th. Weiss Ratings raised Booking from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. HSBC lowered their target price on Booking from $309.84 to $298.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, Robert W. Baird set a $230.00 price target on Booking in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.45.

Insider Buying and Selling

In related news, VP Peter J. Millones sold 50,050 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the completion of the transaction, the vice president owned 375,025 shares of the company’s stock, valued at $77,851,439.75. This trade represents a 11.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $206.70, for a total value of $206,700.00. Following the transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately $3,100,500. This trade represents a 6.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 77,550 shares of company stock worth $16,112,304. 0.17% of the stock is currently owned by corporate insiders.

Booking Profile

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.